Synchrony Financial (SYF) 10-Q 25 Oct 22 2022 Q3 Quarterly report Financial data

Cover Document

Cover Document - shares	9 Months Ended
	Sep. 30, 2022	Oct. 21, 2022
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2022
Document Transition Report	false
Entity File Number	001-36560
Entity Registrant Name	SYNCHRONY FINANCIAL
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	51-0483352
Entity Address, Address Line One	777 Long Ridge Road
Entity Address, City or Town	Stamford,
Entity Address, State or Province	CT
Entity Address, Postal Zip Code	06902
City Area Code	203
Local Phone Number	585-2400
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Smaller Reporting Company	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		450,541,428
Entity Central Index Key	0001601712
Amendment Flag	false
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Common Stock
Entity Information [Line Items]
Title of 12(b) Security	Common stock, par value $0.001 per share
Trading Symbol	SYF
Security Exchange Name	NYSE
Series A Preferred Stock
Entity Information [Line Items]
Title of 12(b) Security	Depositary Shares Each Representing a 1/40th Interest in a Share of 5.625% Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series A
Trading Symbol	SYFPrA
Security Exchange Name	NYSE

Condensed Consolidated Statemen

Condensed Consolidated Statements of Earnings (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Interest income:
Interest and fees on loans (Note 4)	$ 4,258	$ 3,887	$ 12,305	$ 11,186
Interest on cash and debt securities	84	11	133	32
Total interest income	4,342	3,898	12,438	11,218
Interest expense:
Interest on deposits	280	131	567	447
Interest on senior unsecured notes	80	68	225	226
Total interest expense	414	240	919	809
Net interest income	3,928	3,658	11,519	10,409
Retailer share arrangements	(1,057)	(1,266)	(3,288)	(3,261)
Provision for credit losses (Note 4)	929	25	2,174	165
Net interest income, after retailer share arrangements and provision for credit losses	1,942	2,367	6,057	6,983
Other income:
Interchange revenue	238	232	731	626
Debt cancellation fees	103	70	285	205
Loyalty programs	(326)	(256)	(906)	(682)
Other	29	48	240	165
Total other income	44	94	350	314
Other expense:
Employee costs	416	369	1,222	1,092
Professional fees	204	196	599	575
Marketing and business development	115	110	366	319
Information processing	150	139	458	407
Other	179	147	541	448
Total other expense	1,064	961	3,186	2,841
Earnings before provision for income taxes	922	1,500	3,221	4,456
Provision for income taxes (Note 12)	219	359	782	1,048
Net earnings	703	1,141	2,439	3,408
Net earnings available to common stockholders	$ 692	$ 1,130	$ 2,407	$ 3,376
Earnings per share
Basic (in usd per share)	$ 1.48	$ 2.02	$ 4.89	$ 5.89
Diluted (in usd per share)	$ 1.47	$ 2	$ 4.86	$ 5.84
Variable Interest Entity, Primary Beneficiary
Interest income:
Interest and fees on loans (Note 4)	$ 896	$ 1,000	$ 2,700	$ 3,100
Interest expense:
Interest on borrowings of consolidated securitization entities	54	41	127	136
Provision for credit losses (Note 4)	$ 23	$ (133)	$ 151	$ (213)

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Statement of Comprehensive Income [Abstract]
Net earnings	$ 703	$ 1,141	$ 2,439	$ 3,408
Other comprehensive income (loss)
Debt securities	(33)	(5)	(110)	(13)
Currency translation adjustments	(5)	(5)	(9)	(1)
Employee benefit plans	0	2	1	1
Other comprehensive income (loss)	(38)	(8)	(118)	(13)
Comprehensive income	$ 665	$ 1,133	$ 2,321	$ 3,395

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Financial Position - USD ($) $ in Millions		Sep. 30, 2022	Dec. 31, 2021
Assets
Cash and equivalents		$ 11,962	$ 8,337
Debt securities (Note 3)		5,082	5,283
Less: Allowance for credit losses		(9,102)	(8,688)
Loan receivables, net		76,910	72,052
Loan receivables held for sale (Note 4)		0	4,361
Goodwill		1,105	1,105
Intangible assets, net (Note 6)		1,033	1,168
Other assets		4,674	3,442
Total assets		100,766	95,748
Deposits: (Note 7)
Interest-bearing deposit accounts		68,032	61,911
Non-interest-bearing deposit accounts		372	359
Total deposits		68,404	62,270
Borrowings: (Notes 5 and 8)
Senior unsecured notes		7,961	7,219
Total borrowings	[1]	14,321	14,507
Accrued expenses and other liabilities		5,029	5,316
Total liabilities		87,754	82,093
Equity:
Preferred stock, par share value $0.001 per share; 750,000 shares authorized; 750,000 shares issued and outstanding at both September 30, 2022 and December 31, 2021 and aggregate liquidation preference of $750 at both September 30, 2022 and December 31, 2021		734	734
Common Stock, par share value $0.001 per share; 4,000,000,000 shares authorized; 833,984,684 shares issued at both September 30, 2022 and December 31, 2021; 458,904,206 and 526,830,205 shares outstanding at September 30, 2022 and December 31, 2021, respectively		1	1
Additional paid-in capital		9,685	9,669
Retained earnings		16,252	14,245
Accumulated other comprehensive income (loss):
Debt securities		(106)	4
Currency translation adjustments		(35)	(26)
Employee benefit plans		(46)	(47)
Treasury stock, at cost; 375,080,478 and 307,154,479 shares at September 30, 2022 and December 31, 2021, respectively		13,473	10,925
Total equity		13,012	13,655
Total liabilities and equity		100,766	95,748
Total loan receivables		86,012	80,740
Restricted loans of consolidated securitization entities
Assets
Less: Allowance for credit losses		(1,700)	(1,900)
Loan receivables, net	[2]	16,629	18,594
Loan receivables held for sale (Note 4)		0	1,398
Other assets	[3]	1,031	292
Total assets		17,660	20,284
Borrowings: (Notes 5 and 8)
Total liabilities		6,378	7,302
Total loan receivables		18,361	20,529
Borrowings of consolidated securitization entities	[1]	6,360	7,288
Unsecuritized Loans Held for Investment [Member]
Total loan receivables		$ 67,651	$ 60,211
[1]The amounts presented above for outstanding borrowings include unamortized debt premiums, discounts and issuance costs.[2]Includes $1.7 billion and $1.9 billion of related allowance for credit losses resulting in gross restricted loans of $18.4 billion and $20.5 billion at September 30, 2022 and December 31, 2021, respectively.[3]Includes $1.0 billion and $288 million of segregated funds held by the VIEs at September 30, 2022 and December 31, 2021, respectively, which are classified as restricted cash and equivalents and included as a component of other assets

Consolidated Statements of Fina

Consolidated Statements of Financial Position Statement (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Statement of Financial Position [Abstract]
Preferred Stock, Par or Stated Value Per Share	$ 0.001	$ 0.001
Preferred Stock, Shares Authorized	750,000	750,000
Preferred Stock, Shares Outstanding	750,000	750,000
Preferred Stock, Shares Issued	750,000	750,000
Preferred Stock, Liquidation Preference, Value	$ 750	$ 750
Common stock par value (in usd per share)	$ 0.001	$ 0.001
Common Stock, Shares Authorized	4,000,000,000	4,000,000,000
Common Stock, Shares, Issued	833,984,684	833,984,684
Common Stock, Shares, Outstanding	458,904,206	526,830,205
Treasury Stock, Shares	375,080,478	307,154,479

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Equity (Unaudited) - USD ($) $ in Millions	Total	Preferred Stock	Common Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)	Treasury Stock
Preferred stock, beginning balance (in shares) at Dec. 31, 2020		750,000
Beginning balance at Dec. 31, 2020	$ 12,701	$ 734	$ 1	$ 9,570	$ 10,621	$ (51)	$ (8,174)
Beginning balance (in shares) at Dec. 31, 2020			833,985,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	1,025				1,025
Other comprehensive income	(5)					(5)
Purchases of treasury stock	(200)						(200)
Stock-based compensation (in shares)			0
Stock-based compensation	$ 57			22	(37)		72
Preferred Stock, Dividends Per Share, Declared	$ 14.06
Common Stock, Dividends, Per Share, Declared	$ 0.22
Dividends - preferred stock	$ (11)				(11)
Dividends - common stock	(128)				(128)
Preferred stock, ending balance (in shares) at Mar. 31, 2021		750,000
Ending balance at Mar. 31, 2021	13,439	$ 734	$ 1	9,592	11,470	(56)	(8,302)
Ending balance (in shares) at Mar. 31, 2021			833,985,000
Preferred stock, beginning balance (in shares) at Dec. 31, 2020		750,000
Beginning balance at Dec. 31, 2020	12,701	$ 734	$ 1	9,570	10,621	(51)	(8,174)
Beginning balance (in shares) at Dec. 31, 2020			833,985,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	3,408
Other comprehensive income	(13)
Preferred stock, ending balance (in shares) at Sep. 30, 2021		750,000
Ending balance at Sep. 30, 2021	13,936	$ 734	$ 1	9,649	13,562	(64)	(9,946)
Ending balance (in shares) at Sep. 30, 2021			833,985,000
Preferred stock, beginning balance (in shares) at Mar. 31, 2021		750,000
Beginning balance at Mar. 31, 2021	13,439	$ 734	$ 1	9,592	11,470	(56)	(8,302)
Beginning balance (in shares) at Mar. 31, 2021			833,985,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	1,242				1,242
Other comprehensive income	0					0
Purchases of treasury stock	(393)						(393)
Stock-based compensation (in shares)			0
Stock-based compensation	$ 47			28	(14)		33
Preferred Stock, Dividends Per Share, Declared	$ 14.06
Common Stock, Dividends, Per Share, Declared	$ 0.22
Dividends - preferred stock	$ (10)				(10)
Dividends - common stock	(128)				(128)
Preferred stock, ending balance (in shares) at Jun. 30, 2021		750,000
Ending balance at Jun. 30, 2021	14,197	$ 734	$ 1	9,620	12,560	(56)	(8,662)
Ending balance (in shares) at Jun. 30, 2021			833,985,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	1,141				1,141
Other comprehensive income	(8)					(8)
Purchases of treasury stock	(1,301)						(1,301)
Treasury Stock Reissued at Lower than Repurchase Price					(4)
Stock-based compensation, treasury stock issued							17
Stock-based compensation (in shares)			0
Stock-based compensation	$ 42			29
Preferred Stock, Dividends Per Share, Declared	$ 14.06
Common Stock, Dividends, Per Share, Declared	$ 0.22
Dividends - preferred stock	$ (11)				(11)
Dividends - common stock	(124)				(124)
Preferred stock, ending balance (in shares) at Sep. 30, 2021		750,000
Ending balance at Sep. 30, 2021	$ 13,936	$ 734	$ 1	9,649	13,562	(64)	(9,946)
Ending balance (in shares) at Sep. 30, 2021			833,985,000
Preferred stock, beginning balance (in shares) at Dec. 31, 2021	750,000	750,000
Beginning balance at Dec. 31, 2021	$ 13,655	$ 734	$ 1	9,669	14,245	(69)	(10,925)
Beginning balance (in shares) at Dec. 31, 2021	833,984,684		833,985,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	$ 932				932
Other comprehensive income	(52)					(52)
Purchases of treasury stock	(968)						(968)
Stock-based compensation (in shares)			0
Stock-based compensation	$ (25)			(26)	(50)		51
Preferred Stock, Dividends Per Share, Declared	$ 14.06
Common Stock, Dividends, Per Share, Declared	$ 0.22
Dividends - preferred stock	$ (10)				(10)
Dividends - common stock	(114)				(114)
Preferred stock, ending balance (in shares) at Mar. 31, 2022		750,000
Ending balance at Mar. 31, 2022	$ 13,418	$ 734	$ 1	9,643	15,003	(121)	(11,842)
Ending balance (in shares) at Mar. 31, 2022			833,985,000
Preferred stock, beginning balance (in shares) at Dec. 31, 2021	750,000	750,000
Beginning balance at Dec. 31, 2021	$ 13,655	$ 734	$ 1	9,669	14,245	(69)	(10,925)
Beginning balance (in shares) at Dec. 31, 2021	833,984,684		833,985,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	$ 2,439
Other comprehensive income	$ (118)
Preferred stock, ending balance (in shares) at Sep. 30, 2022	750,000	750,000
Ending balance at Sep. 30, 2022	$ 13,012	$ 734	$ 1	9,685	16,252	(187)	(13,473)
Ending balance (in shares) at Sep. 30, 2022	833,984,684		833,985,000
Preferred stock, beginning balance (in shares) at Mar. 31, 2022		750,000
Beginning balance at Mar. 31, 2022	$ 13,418	$ 734	$ 1	9,643	15,003	(121)	(11,842)
Beginning balance (in shares) at Mar. 31, 2022			833,985,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	804				804
Other comprehensive income	(28)					(28)
Purchases of treasury stock	(701)						(701)
Stock-based compensation (in shares)			0
Stock-based compensation	$ 19			20	(9)		8
Preferred Stock, Dividends Per Share, Declared	$ 14.06
Common Stock, Dividends, Per Share, Declared	$ 0.22
Dividends - preferred stock	$ (11)				(11)
Dividends - common stock	(108)				(108)
Preferred stock, ending balance (in shares) at Jun. 30, 2022		750,000
Ending balance at Jun. 30, 2022	13,393	$ 734	$ 1	9,663	15,679	(149)	(12,535)
Ending balance (in shares) at Jun. 30, 2022			833,985,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	703				703
Other comprehensive income	(38)					(38)
Purchases of treasury stock	(951)						(951)
Treasury Stock Reissued at Lower than Repurchase Price					(10)
Stock-based compensation, treasury stock issued							13
Stock-based compensation (in shares)			0
Stock-based compensation	$ 25			22
Preferred Stock, Dividends Per Share, Declared	$ 14.06
Common Stock, Dividends, Per Share, Declared	$ 0.23
Dividends - preferred stock	$ (11)				(11)
Dividends - common stock	$ (109)				(109)
Preferred stock, ending balance (in shares) at Sep. 30, 2022	750,000	750,000
Ending balance at Sep. 30, 2022	$ 13,012	$ 734	$ 1	$ 9,685	$ 16,252	$ (187)	$ (13,473)
Ending balance (in shares) at Sep. 30, 2022	833,984,684		833,985,000

Condensed Consolidated Statem_5

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021
Cash flows - operating activities
Net earnings	$ 2,439	$ 3,408
Adjustments to reconcile net earnings to cash provided from operating activities
Provision for credit losses	2,174	165
Deferred income taxes	(185)	230
Depreciation and amortization	318	285
(Increase) decrease in interest and fees receivable	74	579
(Increase) decrease in other assets	(26)	(79)
Increase (decrease) in accrued expenses and other liabilities	(322)	88
All other operating activities	375	419
Cash provided from (used for) operating activities	4,847	5,095
Cash flows - investing activities
Maturity and sales of debt securities	3,659	4,249
Purchases of debt securities	(3,624)	(2,290)
Proceeds from sale of loan receivables	3,930	23
Net (increase) decrease in loan receivables, including held for sale	(6,999)	(610)
All other investing activities	(342)	(422)
Cash provided from (used for) investing activities	(3,376)	950
Borrowings of consolidated securitization entities
Proceeds from issuance of securitized debt	1,670	1,350
Maturities and repayment of securitized debt	(2,600)	(2,875)
Senior unsecured notes
Proceeds from issuance of senior unsecured notes	2,235	0
Maturities and repayment of senior unsecured notes	(1,500)	(1,500)
Dividends paid on preferred stock	(32)	(32)
Net increase (decrease) in deposits	6,125	(2,447)
Purchases of treasury stock	(2,619)	(1,894)
Dividends paid on common stock	(331)	(380)
All other financing activities	(44)	28
Cash provided from (used for) financing activities	2,904	(7,750)
Increase (decrease) in cash and equivalents, including restricted amounts	4,375	(1,705)
Cash and equivalents, including restricted amounts, at beginning of period	8,686	11,605
Cash and equivalents	11,962	9,806
Restricted cash and equivalents included in other assets	1,099	94
Total cash and equivalents, including restricted amounts, at end of period	$ 13,061	$ 9,900

Business Description

Business Description	9 Months Ended
	Sep. 30, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business Description	BUSINESS DESCRIPTION Synchrony Financial (the “Company”) provides a range of credit products through financing programs it has established with a diverse group of national and regional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers. We primarily offer private label, Dual Card, co-brand and general purpose credit cards, as well as short- and long-term installment loans, and savings products insured by the Federal Deposit Insurance Corporation (“FDIC”) through Synchrony Bank (the “Bank”). References to the “Company”, “we”, “us” and “our” are to Synchrony Financial and its consolidated subsidiaries unless the context otherwise requires.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	BASIS OF PRESENTATION AND SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Basis of Presentation The accompanying condensed consolidated financial statements were prepared in conformity with U.S. generally accepted accounting principles (“GAAP”). Preparing financial statements in conformity with U.S. GAAP requires us to make estimates based on assumptions about current, and for some estimates, future, economic and market conditions (for example, unemployment, housing, interest rates and market liquidity) which affect reported amounts and related disclosures in our condensed consolidated financial statements. Although our current estimates contemplate current conditions and how we expect them to change in the future, as appropriate, it is reasonably possible that actual conditions could be different than anticipated in those estimates, which could materially affect our results of operations and financial position. Among other effects, such changes could result in incremental losses on loan receivables, future impairments of debt securities, goodwill and intangible assets, increases in reserves for contingencies, establishment of valuation allowances on deferred tax assets and increases in our tax liabilities. We primarily conduct our business within the United States and Canada and substantially all of our revenues are from U.S. customers. The operating activities conducted by our non-U.S. affiliates use the local currency as their functional currency. The effects of translating the financial statements of these non-U.S. affiliates to U.S. dollars are included in equity. Asset and liability accounts are translated at period-end exchange rates, while revenues and expenses are translated at average rates for the respective periods. Consolidated Basis of Presentation The Company’s financial statements have been prepared on a consolidated basis. Under this basis of presentation, our financial statements consolidate all of our subsidiaries – i.e., entities in which we have a controlling financial interest, most often because we hold a majority voting interest. To determine if we hold a controlling financial interest in an entity, we first evaluate if we are required to apply the variable interest entity (“VIE”) model to the entity, otherwise the entity is evaluated under the voting interest model. Where we hold current or potential rights that give us the power to direct the activities of a VIE that most significantly impact the VIE’s economic performance (“power”) combined with a variable interest that gives us the right to receive potentially significant benefits or the obligation to absorb potentially significant losses (“significant economics”), we have a controlling financial interest in that VIE. Rights held by others to remove the party with power over the VIE are not considered unless one party can exercise those rights unilaterally. We consolidate certain securitization entities under the VIE model because we have both power and significant economics. See Note 5. Variable Interest Entities . Interim Period Presentation The condensed consolidated financial statements and notes thereto are unaudited. These statements include all adjustments (consisting of normal recurring accruals) that we considered necessary to present a fair statement of our results of operations, financial position and cash flows. The results reported in these condensed consolidated financial statements should not be considered as necessarily indicative of results that may be expected for the entire year. These condensed consolidated financial statements should be read in conjunction with our 2021 annual consolidated financial statements and the related notes in our Annual Report on Form 10-K for the year ended December 31, 2021 (our "2021 Form 10-K"). New Accounting Standards Recently Issued But Not Yet Adopted Accounting Standards In March 2022, the FASB issued ASU No. 2022-02, Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures. This ASU eliminates the separate recognition and measurement guidance for Troubled Debt Restructurings ("TDRs") by creditors. The elimination of the TDR guidance may be adopted prospectively for loan modifications after adoption or on a modified retrospective basis, which would also apply to loans previously modified, resulting in a cumulative effect adjustment to retained earnings in the period of adoption for changes in the allowance for credit losses. This guidance is effective for the Company on January 1, 2023, with early adoption permitted. The Company is currently assessing the impacts of the guidance and plans to adopt the guidance on January 1, 2023 on a modified retrospective basis. See Note 2. Basis of Presentation and Summary of Significant Accounting Policies to our 2021 annual consolidated financial statements in our 2021 Form 10-K, for additional information on our other significant accounting policies.

Debt Securities

Debt Securities	9 Months Ended
	Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Investment Securities	DEBT SECURITIES All of our debt securities are classified as available-for-sale and are held to meet our liquidity objectives or to comply with the Community Reinvestment Act (“CRA”). Our debt securities consist of the following: September 30, 2022 December 31, 2021 Gross Gross Gross Gross Amortized unrealized unrealized Estimated Amortized unrealized unrealized Estimated ($ in millions) cost gains losses fair value cost gains losses fair value U.S. government and federal agency $ 3,763 $ — $ (61) $ 3,702 $ 2,222 $ — $ (2) $ 2,220 State and municipal 10 — — 10 13 — — 13 Residential mortgage-backed (a) 490 — (54) 436 597 12 (3) 606 Asset-backed (b) 951 — (24) 927 2,432 2 (4) 2,430 Other 8 — (1) 7 13 1 — 14 Total $ 5,222 $ — $ (140) $ 5,082 $ 5,277 $ 15 $ (9) $ 5,283 _______________________ (a) All of our residential mortgage-backed securities have been issued by government-sponsored entities and are collateralized by U.S. mortgages. At September 30, 2022 and December 31, 2021, $102 million and $145 million of residential mortgage-backed securities, respectively, are pledged by the Bank as collateral to the Federal Reserve to secure Federal Reserve Discount Window advances. (b) Our asset-backed securities are collateralized by credit card and auto loans. The following table presents the estimated fair values and gross unrealized losses of our available-for-sale debt securities: In loss position for Less than 12 months 12 months or more Gross Gross Estimated unrealized Estimated unrealized ($ in millions) fair value losses fair value losses At September 30, 2022 U.S. government and federal agency $ 3,405 $ (55) $ 297 $ (6) State and municipal 7 — 3 — Residential mortgage-backed 337 (35) 98 (19) Asset-backed 432 (10) 382 (14) Other 7 (1) — — Total $ 4,188 $ (101) $ 780 $ (39) At December 31, 2021 U.S. government and federal agency $ 563 $ (2) $ — $ — State and municipal 4 — — — Residential mortgage-backed 105 (2) 27 (1) Asset-backed 1,653 (4) — — Total $ 2,325 $ (8) $ 27 $ (1) We regularly review debt securities for impairment resulting from credit loss using both qualitative and quantitative criteria, as necessary based on the composition of the portfolio at period end. Based on our assessment, no material impairments for credit losses were recognized during the period. We presently do not intend to sell our debt securities that are in an unrealized loss position and believe that it is not more likely than not that we will be required to sell these securities before recovery of our amortized cost. Contractual Maturities of Investments in Available-for-Sale Debt Securities Amortized Estimated Weighted At September 30, 2022 ($ in millions) cost fair value Average yield (a) Due Within one year $ 3,466 $ 3,442 2.2 % After one year through five years $ 1,640 $ 1,542 1.1 % After five years through ten years $ 90 $ 76 1.9 % After ten years $ 26 $ 22 2.8 % _____________________ (a) Weighted average yield is calculated based on the amortized cost of each security. In calculating yield, no adjustment has been made with respect to any tax-exempt obligations. We expect actual maturities to differ from contractual maturities because borrowers have the right to prepay certain obligations. There were no material realized gains or losses recognized for the nine months ended September 30, 2022 and 2021.

Loan Receivables and Allowance

Loan Receivables and Allowance for Credit Losses	6 Months Ended
	Jun. 30, 2022
Receivables [Abstract]
Loan Receivables and Allowance for Credit Losses	LOAN RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES ($ in millions) September 30, 2022 December 31, 2021 Credit cards $ 81,254 $ 76,628 Consumer installment loans 2,945 2,675 Commercial credit products 1,723 1,372 Other 90 65 Total loan receivables, before allowance for credit losses (a)(b) $ 86,012 $ 80,740 _______________________ (a) Total loan receivables include $18.4 billion and $20.5 billion of restricted loans of consolidated securitization entities at September 30, 2022 and December 31, 2021, respectively. See Note 5. Variable Interest Entities for further information on these restricted loans. (b) At September 30, 2022 and December 31, 2021, loan receivables included deferred costs, net of deferred income, of $213 million and $211 million, respectively. Disposition of Loan Receivables During the second quarter of 2022, we completed the sales of a total of $3.8 billion of loan receivables associated with our program agreements with Gap Inc. and BP. The total proceeds received from the dispositions were $3.9 billion and we recognized a gain on sale of $120 million included within other income in our condensed consolidated statement of earnings. Allowance for Credit Losses ($ in millions) Balance at July 1, 2022 Provision charged to operations Gross charge-offs Recoveries Other Balance at Credit cards $ 8,605 $ 864 $ (785) $ 189 $ — $ 8,873 Consumer installment loans 129 38 (25) 4 — 146 Commercial credit products 71 26 (19) 2 — 80 Other 3 1 (1) — — 3 Total $ 8,808 $ 929 $ (830) $ 195 $ — $ 9,102 ($ in millions) Balance at July 1, 2021 Provision charged to operations Gross charge-offs Recoveries Other Balance at Credit cards $ 8,904 $ (22) $ (625) $ 208 $ — $ 8,465 Consumer installment loans 67 37 (11) 4 — 97 Commercial credit products 50 10 (8) 1 — 53 Other 2 — (1) — — 1 Total $ 9,023 $ 25 $ (645) $ 213 $ — $ 8,616 ($ in millions) Balance at January 1, 2022 Provision charged to operations Gross charge-offs Recoveries Other Balance at Credit cards $ 8,512 $ 2,028 $ (2,273) $ 606 $ — $ 8,873 Consumer installment loans 115 80 (63) 14 — 146 Commercial credit products 59 64 (48) 5 — 80 Other 2 2 (1) — — 3 Total $ 8,688 $ 2,174 $ (2,385) $ 625 $ — $ 9,102 ($ in millions) Balance at January 1, 2021 Provision charged to operations Gross charge-offs Recoveries Other Balance at Credit cards $ 10,076 $ 156 $ (2,407) $ 640 $ — $ 8,465 Consumer installment loans 127 (7) (38) 14 1 97 Commercial credit products 61 15 (27) 4 — 53 Other 1 1 (1) — — 1 Total $ 10,265 $ 165 $ (2,473) $ 658 $ 1 $ 8,616 Our allowance for credit losses at September 30, 2022 and December 31, 2021 reflects our estimate of expected credit losses for the life of the loan receivables on our consolidated statement of financial position. The reasonable and supportable forecast period used in our estimate of credit losses at September 30, 2022 was 12 months, consistent with the forecast period utilized since the adoption of CECL. Beyond the reasonable and supportable forecast period, we revert to historical loss information at the loan receivables segment level over a 6-month period, gradually increasing the weight of historical losses by an equal amount each month during the reversion period, and utilize historical loss information thereafter for the remaining life of the portfolio. The reversion period and methodology remain unchanged since the adoption of CECL. Losses on loan receivables are estimated and recognized upon origination of the loan, based on expected credit losses for the life of the loan balance at September 30, 2022. Expected credit loss estimates are developed using both quantitative models and qualitative adjustments, and incorporates a macroeconomic forecast, as described within the 2021 Form 10-K. The current and forecasted economic conditions at the balance sheet date influenced our current estimate of expected credit losses. These conditions are relatively consistent as compared to December 31, 2021, reflecting continued elevated trends in customer payment behavior, and an uncertain macroeconomic environment. Our allowance for credit losses increased to $9.1 billion during the nine months ended September 30, 2022 primarily due to growth in loan receivables. See Note 2. Basis of Presentation and Summary of Significant Accounting Policies to our 2021 annual consolidated financial statements in our 2021 Form 10-K, for additional information on our significant accounting policies related to our allowance for credit losses. Delinquent and Non-accrual Loans At September 30, 2022 ($ in millions) 30-89 days delinquent 90 or more days delinquent Total past due 90 or more days delinquent and accruing Total non-accruing Credit cards $ 1,500 $ 1,200 $ 2,700 $ 1,200 $ — Consumer installment loans 47 10 57 — 10 Commercial credit products 39 22 61 22 — Total delinquent loans $ 1,586 $ 1,232 $ 2,818 $ 1,222 $ 10 Percentage of total loan receivables 1.8 % 1.4 % 3.3 % 1.4 % — % At December 31, 2021 ($ in millions) 30-89 days delinquent 90 or more days delinquent Total past due 90 or more days delinquent and accruing Total non-accruing Credit cards $ 1,111 $ 923 $ 2,034 $ 923 $ — Consumer installment loans 35 6 41 — 6 Commercial credit products 26 13 39 13 — Total delinquent loans $ 1,172 $ 942 $ 2,114 $ 936 $ 6 Percentage of total loan receivables 1.5 % 1.2 % 2.6 % 1.2 % — % Delinquency trends are the primary credit quality indicator for our consumer installment loans, which we use to monitor credit quality and risk within the portfolio. Total consumer installment past due of $57 million and $41 million at September 30, 2022 and December 31, 2021, respectively, were not material. Troubled Debt Restructurings We use certain loan modification programs for borrowers experiencing financial difficulties. These loan modification programs include interest rate reductions and payment deferrals in excess of three months, which were not part of the terms of the original contract. Our TDR loans do not include loans that are classified as loan receivables held for sale. We have both internal and external loan modification programs. We use long-term modification programs for borrowers experiencing financial difficulty as a loss mitigation strategy to improve long-term collectability of the loans that are classified as TDRs. The long-term program involves changing the structure of the loan to a fixed payment loan with a maturity no longer than 60 months and reducing the interest rate on the loan. The long-term program does not normally provide for the forgiveness of unpaid principal but may allow for the reversal of certain unpaid interest or fee assessments. We also make loan modifications for customers who request financial assistance through external sources, such as consumer credit counseling agency programs. These loans typically receive a reduced interest rate but continue to be subject to the original minimum payment terms and do not normally include waiver of unpaid principal, interest or fees. The following table provides information on our TDR loan modifications during the periods presented: Three months ended September 30, Nine months ended September 30, ($ in millions) 2022 2021 2022 2021 Credit cards $ 265 $ 149 $ 681 $ 564 Consumer installment loans — — — — Commercial credit products 1 1 2 2 Total $ 266 $ 150 $ 683 $ 566 Our allowance for credit losses on TDRs is generally measured based on the difference between the recorded loan receivable and the present value of the expected future cash flows, discounted at the original effective interest rate of the loan. Interest income from loans accounted for as TDRs is accounted for in the same manner as other accruing loans. The following table provides information about loans classified as TDRs and specific reserves. We do not evaluate credit card loans on an individual basis but instead estimate an allowance for credit losses on a collective basis. At September 30, 2022 ($ in millions) Total recorded Related allowance Net recorded investment Unpaid principal balance Credit cards $ 1,255 $ (512) $ 743 $ 1,122 Consumer installment loans — — — — Commercial credit products 3 (1) 2 3 Total $ 1,258 $ (513) $ 745 $ 1,125 At December 31, 2021 ($ in millions) Total recorded Related allowance Net recorded investment Unpaid principal balance Credit cards $ 1,171 $ (481) $ 690 $ 1,053 Consumer installment loans — — — — Commercial credit products 3 (1) 2 3 Total $ 1,174 $ (482) $ 692 $ 1,056 Financial Effects of TDRs As part of our loan modifications for borrowers experiencing financial difficulty, we may provide multiple concessions to minimize our economic loss and improve long-term loan performance and collectability. The following table presents the types and financial effects of loans modified and accounted for as TDRs during the periods presented: Three months ended September 30, 2022 2021 ($ in millions) Interest income recognized during period when loans were modified Interest income that would have been recorded with original terms Average recorded investment Interest income recognized during period when loans were modified Interest income that would have been recorded with original terms Average recorded investment Credit cards $ 9 $ 80 $ 1,218 $ 11 $ 79 $ 1,196 Consumer installment loans — — — — — — Commercial credit products — 1 4 — 1 4 Total $ 9 $ 81 $ 1,222 $ 11 $ 80 $ 1,200 Nine months ended September 30, 2022 2021 ($ in millions) Interest income recognized during period when loans were modified Interest income that would have been recorded with original terms Average recorded investment Interest income recognized during period when loans were modified Interest income that would have been recorded with original terms Average recorded investment Credit cards $ 26 $ 234 $ 1,201 $ 30 $ 235 $ 1,235 Consumer installment loans — — — — — — Commercial credit products — 1 3 — 1 4 Total $ 26 $ 235 $ 1,204 $ 30 $ 236 $ 1,239 Payment Defaults The following table presents the type, number and amount of loans accounted for as TDRs that enrolled in a modification plan within the previous 12 months from the applicable balance sheet date and experienced a payment default and charged-off during the periods presented. Three months ended September 30, 2022 2021 ($ in millions) Accounts defaulted Loans defaulted Accounts defaulted Loans defaulted Credit cards 25,288 $ 56 18,082 $ 48 Consumer installment loans — — — — Commercial credit products 51 — 42 — Total 25,339 $ 56 18,124 $ 48 Nine months ended September 30, 2022 2021 ($ in millions) Accounts defaulted Loans defaulted Accounts defaulted Loans defaulted Credit cards 51,944 $ 116 43,897 $ 114 Consumer installment loans — — — — Commercial credit products 104 1 100 1 Total 52,048 $ 117 43,997 $ 115 Credit Quality Indicators Our loan receivables portfolio includes both secured and unsecured loans. Secured loan receivables are largely comprised of consumer installment loans secured by equipment. Unsecured loan receivables are largely comprised of our open-ended consumer and commercial revolving credit card loans. As part of our credit risk management activities, on an ongoing basis, we assess overall credit quality by reviewing information related to the performance of a customer’s account with us, including delinquency information, as well as information from credit bureaus relating to the customer’s broader credit performance. We utilize VantageScore credit scores to assist in our assessment of credit quality. VantageScore credit scores are obtained at origination of the account and are refreshed, at a minimum quarterly, but could be as often as weekly, to assist in predicting customer behavior. We categorize these credit scores into the following three credit score categories: (i) 651 or higher, which are considered the strongest credits; (ii) 591 to 650, considered moderate credit risk; and (iii) 590 or less, which are considered weaker credits. There are certain customer accounts for which a VantageScore score is not available where we use alternative sources to assess their credit and predict behavior. The following table provides the most recent VantageScore scores available for our customers at September 30, 2022, December 31, 2021 and September 30, 2021, respectively, as a percentage of each class of loan receivable. The table below excludes 0.4%, 0.4% and 0.4% of our total loan receivables balance at each of September 30, 2022, December 31, 2021 and September 30, 2021, respectively, which represents those customer accounts for which a VantageScore score is not available. September 30, 2022 December 31, 2021 September 30, 2021 651 or 591 to 590 or 651 or 591 to 590 or 651 or 591 to 590 or higher 650 less higher 650 less higher 650 less Credit cards 75 % 18 % 7 % 78 % 17 % 5 % 79 % 17 % 4 % Consumer installment loans 77 % 17 % 6 % 79 % 17 % 4 % 80 % 16 % 4 % Commercial credit products 90 % 6 % 4 % 92 % 5 % 3 % 93 % 4 % 3 % Unfunded Lending Commitments We manage the potential risk in credit commitments by limiting the total amount of credit, both by individual customer and in total, by monitoring the size and maturity of our portfolios and by applying the same credit standards for all of our credit products. Unused credit card lines available to our customers totaled approximately $413 billion and $431 billion at September 30, 2022 and December 31, 2021, respectively. The decrease as compared to December 31, 2021 reflects the impact from the portfolio sales completed in the second quarter of 2022. While these amounts represented the total available unused credit card lines, we have not experienced and do not anticipate that all of our customers will access their entire available line at any given point in time. Interest Income by Product The following table provides additional information about our interest and fees on loans, including merchant discounts, from our loan receivables, including held for sale: Three months ended September 30, Nine months ended September 30, ($ in millions) 2022 2021 2022 2021 Credit cards (a) $ 4,153 $ 3,793 $ 12,009 $ 10,934 Consumer installment loans 74 64 209 176 Commercial credit products 30 29 83 73 Other 1 1 4 3 Total $ 4,258 $ 3,887 $ 12,305 $ 11,186 _______________________ (a) Interest income on credit cards that was reversed related to accrued interest receivables written off was $265 million and $199 million for the three months ended September 30, 2022 and 2021, respectively, and $770 million and $800 million for the nine months ended September 30, 2022 and 2021, respectively.

Variable Interest Entities

Variable Interest Entities	9 Months Ended
	Sep. 30, 2022
Variable Interest Entities [Abstract]
Variable Interest Entities	VARIABLE INTEREST ENTITIES We use VIEs to securitize loan receivables and arrange asset-backed financing in the ordinary course of business. Investors in these entities only have recourse to the assets owned by the entity and not to our general credit. We do not have implicit support arrangements with any VIE and we did not provide non-contractual support for previously transferred loan receivables to any of these VIEs in the three and nine months ended September 30, 2022 and 2021. Our VIEs are able to accept new loan receivables and arrange new asset-backed financings, consistent with the requirements and limitations on such activities placed on the VIE by existing investors. Once an account has been designated to a VIE, the contractual arrangements we have require all existing and future loan receivables originated under such account to be transferred to the VIE. The amount of loan receivables held by our VIEs in excess of the minimum amount required under the asset-backed financing arrangements with investors may be removed by us under removal of accounts provisions. All loan receivables held by a VIE are subject to claims of third-party investors. In evaluating whether we have the power to direct the activities of a VIE that most significantly impact its economic performance, we consider the purpose for which the VIE was created, the importance of each of the activities in which it is engaged and our decision-making role, if any, in those activities that significantly determine the entity’s economic performance as compared to other economic interest holders. This evaluation requires consideration of all facts and circumstances relevant to decision-making that affects the entity’s future performance and the exercise of professional judgment in deciding which decision-making rights are most important. In determining whether we have the right to receive benefits or the obligation to absorb losses that could potentially be significant to a VIE, we evaluate all of our economic interests in the entity, regardless of form (debt, equity, management and servicing fees, and other contractual arrangements). This evaluation considers all relevant factors of the entity’s design, including: the entity’s capital structure, contractual rights to earnings or losses, subordination of our interests relative to those of other investors, as well as any other contractual arrangements that might exist that could have the potential to be economically significant. The evaluation of each of these factors in reaching a conclusion about the potential significance of our economic interests is a matter that requires the exercise of professional judgment. We consolidate VIEs where we have the power to direct the activities that significantly affect the VIEs' economic performance, typically because of our role as either servicer or administrator for the VIEs. The power to direct exists because of our role in the design and conduct of the servicing of the VIEs’ assets as well as directing certain affairs of the VIEs, including determining whether and on what terms debt of the VIEs will be issued. The loan receivables in these entities have risks and characteristics similar to our other financing receivables and were underwritten to the same standard. Accordingly, the performance of these assets has been similar to our other comparable loan receivables, and the blended performance of the pools of receivables in these entities reflects the eligibility criteria that we apply to determine which receivables are selected for transfer. Contractually, the cash flows from these financing receivables must first be used to pay third-party debt holders, as well as other expenses of the entity. Excess cash flows, if any, are available to us. The creditors of these entities have no claim on our other assets. The table below summarizes the assets and liabilities of our consolidated securitization VIEs described above: ($ in millions) September 30, 2022 December 31, 2021 Assets Loan receivables, net (a) $ 16,629 $ 18,594 Loan receivables held for sale — 1,398 Other assets (b) 1,031 292 Total $ 17,660 $ 20,284 Liabilities Borrowings $ 6,360 $ 7,288 Other liabilities 18 14 Total $ 6,378 $ 7,302 _______________________ (a) Includes $1.7 billion and $1.9 billion of related allowance for credit losses resulting in gross restricted loans of $18.4 billion and $20.5 billion at September 30, 2022 and December 31, 2021, respectively. (b) Includes $1.0 billion and $288 million of segregated funds held by the VIEs at September 30, 2022 and December 31, 2021, respectively, which are classified as restricted cash and equivalents and included as a component of other assets The balances presented above are net of intercompany balances and transactions that are eliminated in our condensed consolidated financial statements. We provide servicing for all of our consolidated VIEs. Collections are required to be placed into segregated accounts owned by each VIE in amounts that meet contractually specified minimum levels. These segregated funds are invested in cash and cash equivalents and are restricted as to their use, principally to pay maturing principal and interest on debt and the related servicing fees. Collections above these minimum levels are remitted to us on a daily basis. Income (principally, interest and fees on loans) earned by our consolidated VIEs was $896 million and $1.0 billion for the three months ended September 30, 2022 and 2021, respectively. Related expenses consisted primarily of provision for credit losses of $23 million and $(133) million for the three months ended September 30, 2022 and 2021, respectively, and interest expense of $54 million and $41 million for the three months ended September 30, 2022 and 2021, respectively. Income (principally, interest and fees on loans) earned by our consolidated VIEs was $2.7 billion and $3.1 billion for the nine months ended September 30, 2022 and 2021, respectively. Related expenses consisted primarily of provision for credit losses of $151 million and $(213) million for the nine months ended September 30, 2022 and 2021, respectively, and interest expense of $127 million and $136 million for the nine months ended September 30, 2022 and 2021, respectively. These amounts do not include intercompany transactions, principally fees and interest, which are eliminated in our condensed consolidated financial statements. Non-consolidated VIEs As part of our community reinvestment initiatives, we invest in affordable housing properties and receive affordable housing tax credits for these investments. These investments included in our Condensed Consolidated Statement of Financial Position totaled $519 million and $441 million at September 30, 2022 and December 31, 2021, respectively, and represents our total exposure for these entities. Additionally, we have other investments in non-consolidated VIEs which totaled $218 million and $184 million at September 30, 2022 and December 31, 2021, respectively. At September 30, 2022, the Company also had investment commitments of $200 million related to these investment s.

Intangible Assets

Intangible Assets	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	INTANGIBLE ASSETS September 30, 2022 December 31, 2021 ($ in millions) Gross carrying amount Accumulated amortization Net Gross carrying amount Accumulated amortization Net Customer-related $ 1,622 $ (1,088) $ 534 $ 1,797 $ (1,222) $ 575 Capitalized software and other 1,491 (992) 499 1,407 (814) 593 Total $ 3,113 $ (2,080) $ 1,033 $ 3,204 $ (2,036) $ 1,168 During the nine months ended September 30, 2022, we recorded additions to intangible assets subject to amortization of $158 million, primarily related to capitalized software expenditures, as well as customer-related intangible assets. Customer-related intangible assets primarily relate to retail partner contract acquisitions and extensions, as well as purchased credit card relationships. During the nine months ended September 30, 2022 and 2021, we recorded additions to customer-related intangible assets subject to amortization of $55 million and $64 million, respectively, primarily related to payments made to acquire and extend certain retail partner relationships. These additions had a weighted average amortizable life of 6 years and 5 years for the nine months ended September 30, 2022 and 2021, respectively.

Deposits

Deposits	9 Months Ended
	Sep. 30, 2022
Deposits [Abstract]
Deposits	DEPOSITS September 30, 2022 December 31, 2021 ($ in millions) Amount Average rate (a) Amount Average rate (a) Interest-bearing deposits $ 68,032 1.2 % $ 61,911 0.9 % Non-interest-bearing deposits 372 — 359 — Total deposits $ 68,404 $ 62,270 ____________________ (a) Based on interest expense for the nine months ended September 30, 2022 and the year ended December 31, 2021 and average deposits balances. At September 30, 2022 and December 31, 2021, interest-bearing deposits included $6.1 billion and $5.0 billion, respectively, of certificates of deposit that exceeded applicable FDIC insurance limits, which are generally $250,000 per depositor. At September 30, 2022, our interest-bearing time deposits maturing for the remainder of 2022 and over the next four years and thereafter were as follows: ($ in millions) 2022 2023 2024 2025 2026 Thereafter Deposits $ 3,690 $ 17,931 $ 6,000 $ 1,876 $ 635 $ 1,579 The above maturity table excludes $31.1 billion of demand deposits with no defined maturity, of which $28.6 billion are savings accounts. In addition, at September 30, 2022, we had $5.2 billion of broker network deposit sweeps procured through a program arranger who channels brokerage account deposits to us that are also excluded from the above maturity table. Unless extended, the contracts associated with these broker network deposit sweeps will terminate between 2023 and 2026.

Borrowings

Borrowings	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Borrowings	BORROWINGS September 30, 2022 December 31, 2021 ($ in millions) Maturity date Interest Rate Weighted average interest rate Outstanding Amount (a) Outstanding Amount (a) Borrowings of consolidated securitization entities: Fixed securitized borrowings 2022 - 2025 2.62% - 3.87% 3.31 % $ 3,260 $ 3,188 Floating securitized borrowings 2023 - 2025 3.48% - 3.79% 3.60 % 3,100 4,100 Total borrowings of consolidated securitization entities 3.45 % 6,360 7,288 Senior unsecured notes: Synchrony Financial senior unsecured notes: Fixed senior unsecured notes 2024 - 2031 2.87% - 5.15% 4.22 % 6,471 6,470 Synchrony Bank senior unsecured notes: Fixed senior unsecured notes 2025 - 2027 5.40% - 5.63% 5.49 % 1,490 749 Total senior unsecured notes 4.45 % 7,961 7,219 Total borrowings $ 14,321 $ 14,507 ___________________ (a) The amounts presented above for outstanding borrowings include unamortized debt premiums, discounts and issuance costs. Debt Maturities The following table summarizes the maturities of the principal amount of our borrowings of consolidated securitization entities and senior unsecured notes for the remainder of 2022 and over the next four years and thereafter: ($ in millions) 2022 2023 2024 2025 2026 Thereafter Borrowings $ 883 $ 2,007 $ 3,150 $ 4,825 $ 500 $ 3,000 Third-Party Debt 2022 Issuance ($ in millions ): Issuance Date Principal Amount Maturity Interest Rate Synchrony Financial June 2022 $ 750 June 2025 4.875% Synchrony Bank August 2022 $ 900 August 2025 5.400% August 2022 $ 600 August 2027 5.625% Credit Facilities As additional sources of liquidity, we have undrawn committed capacity under certain credit facilities, primarily related to our securitization programs.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value Measurements	FAIR VALUE MEASUREMENTS For a description of how we estimate fair value, see Note 2. Basis of Presentation and Summary of Significant Accounting Policies in our 2021 annual consolidated financial statements in our 2021 Form 10-K. The following tables present our assets and liabilities measured at fair value on a recurring basis. Recurring Fair Value Measurements At September 30, 2022 ($ in millions) Level 1 Level 2 Level 3 Total (a) Assets Debt securities U.S. government and federal agency $ — $ 3,702 $ — $ 3,702 State and municipal — — 10 10 Residential mortgage-backed — 436 — 436 Asset-backed — 927 — 927 Other — — 7 7 Other (b) 14 — 15 29 Total $ 14 $ 5,065 $ 32 $ 5,111 Liabilities Other (c) — — 8 8 Total $ — $ — $ 8 $ 8 At December 31, 2021 ($ in millions) Assets Debt securities U.S. government and federal agency $ — $ 2,220 $ — $ 2,220 State and municipal — — 13 13 Residential mortgage-backed — 606 — 606 Asset-backed — 2,430 — 2,430 Other — — 14 14 Other (b) 15 — 34 49 Total $ 15 $ 5,256 $ 61 $ 5,332 Liabilities Other (c) — — 14 14 Total $ — $ — $ 14 $ 14 _______________________ (a) For the nine months ended September 30, 2022 and 2021, there were no fair value measurements transferred between levels. (b) Other is primarily comprised of equity investments measured at fair value, which are included in Other assets in our Statement of Financial Position, as well as certain financial assets for which we have elected the fair value option which are included in Loan receivables in our Statement of Financial Position. (c) Other is primarily comprised of certain financial liabilities for which we have elected the fair value option, which are included in Accrued expenses and other liabilities in our Statement of Financial Position. Level 3 Fair Value Measurements Our Level 3 recurring fair value measurements primarily relate to state and municipal and corporate debt instruments, which are valued using non-binding broker quotes or other third-party sources, and financial assets and liabilities for which we have elected the fair value option. See Note 2. Basis of Presentation and Summary of Significant Accounting Policies and Note 9. Fair Value Measurements in our 2021 annual consolidated financial statements in our 2021 Form 10-K for a description of our process to evaluate third-party pricing servicers. Our state and municipal debt securities are classified as available-for-sale with changes in fair value included in accumulated other comprehensive income. The changes in our Level 3 assets and liabilities that are measured on a recurring basis for the three and nine months ended September 30, 2022 and 2021, respectively, were not material. Financial Assets and Financial Liabilities Carried at Other Than Fair Value Carrying Corresponding fair value amount At September 30, 2022 ($ in millions) value Total Level 1 Level 2 Level 3 Financial Assets Financial assets for which carrying values equal or approximate fair value: Cash and equivalents (a) $ 11,962 $ 11,962 $ 11,962 $ — $ — Other assets (a)(b) $ 1,099 $ 1,099 $ 1,099 $ — $ — Financial assets carried at other than fair value: Loan receivables, net (c) $ 76,895 $ 87,914 $ — $ — $ 87,914 Financial Liabilities Financial liabilities carried at other than fair value: Deposits $ 68,404 $ 67,419 $ — $ 67,419 $ — Borrowings of consolidated securitization entities $ 6,360 $ 6,245 $ — $ 3,187 $ 3,058 Senior unsecured notes $ 7,961 $ 7,396 $ — $ 7,396 $ — Carrying Corresponding fair value amount At December 31, 2021 ($ in millions) value Total Level 1 Level 2 Level 3 Financial Assets Financial assets for which carrying values equal or approximate fair value: Cash and equivalents (a) $ 8,337 $ 8,337 $ 8,337 $ — $ — Other assets (a)(b) $ 349 $ 349 $ 349 $ — $ — Financial assets carried at other than fair value: Loan receivables, net (c) $ 72,034 $ 84,483 $ — $ — $ 84,483 Loan receivables held for sale (c) $ 4,361 $ 4,499 $ — $ — $ 4,499 Financial Liabilities Financial liabilities carried at other than fair value: Deposits $ 62,270 $ 62,486 $ — $ 62,486 $ — Borrowings of consolidated securitization entities $ 7,288 $ 7,359 $ — $ 3,238 $ 4,121 Senior unsecured notes $ 7,219 $ 7,662 $ — $ 7,662 $ — _______________________ (a) For cash and equivalents and restricted cash and equivalents, carrying value approximates fair value due to the liquid nature and short maturity of these instruments. (b) This balance relates to restricted cash and equivalents, which is included in other assets.

Regulatory and Capital Adequacy

Regulatory and Capital Adequacy	9 Months Ended
	Sep. 30, 2022
Banking Regulation, Risk-Based Information [Abstract]
Regulatory and Capital Adequacy	REGULATORY AND CAPITAL ADEQUACY As a savings and loan holding company and a financial holding company, we are subject to regulation, supervision and examination by the Federal Reserve Board and subject to the capital requirements as prescribed by Basel III capital rules and the requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Bank is a federally chartered savings association. As such, the Bank is subject to regulation, supervision and examination by the Office of the Comptroller of the Currency of the U.S. Treasury (the “OCC”), which is its primary regulator, and by the Consumer Financial Protection Bureau (“CFPB”). In addition, the Bank, as an insured depository institution, is supervised by the FDIC. Failure to meet minimum capital requirements can initiate certain mandatory and, possibly, additional discretionary actions by regulators that, if undertaken, could limit our business activities and have a material adverse effect on our consolidated financial statements. Under capital adequacy guidelines, we must meet specific capital guidelines that involve quantitative measures of our assets, liabilities and certain off-balance-sheet items as calculated under regulatory accounting practices. The capital amounts and classifications are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. Quantitative measures established by regulation to ensure capital adequacy require us and the Bank to maintain minimum amounts and ratios (set forth in the tables below) of Total, Tier 1 and common equity Tier 1 capital (as defined in the regulations) to risk-weighted assets (as defined), and of Tier 1 capital to average assets (as defined). For Synchrony Financial to be a well-capitalized savings and loan holding company, the Bank must be well-capitalized and Synchrony Financial must not be subject to any written agreement, order, capital directive, or prompt corrective action directive issued by the Federal Reserve Board to meet and maintain a specific capital level for any capital measure. The Company elected to adopt the option provided by the interim final rule issued by joint federal bank regulatory agencies, which largely delayed the effects of CECL on its regulatory capital through December 31, 2021. Beginning in the first quarter of 2022, the effects are now being phased-in over a three-year period through 2024 and effects fully phased-in beginning in the first quarter of 2025. Under the interim final rule, the amount of adjustments to regulatory capital deferred until the phase-in period included both the initial impact of our adoption of CECL at January 1, 2020 and 25% of subsequent changes in our allowance for credit losses during the two-year period ended December 31, 2021, collectively the “CECL regulatory capital transition adjustment”. In 2022, only 75% of the CECL regulatory capital transition adjustment is now deferred in our regulatory capital amounts and ratios. At September 30, 2022 and December 31, 2021, Synchrony Financial met all applicable requirements to be deemed well-capitalized pursuant to Federal Reserve Board regulations. At September 30, 2022 and December 31, 2021, the Bank also met all applicable requirements to be deemed well-capitalized pursuant to OCC regulations and for purposes of the Federal Deposit Insurance Act. There are no conditions or events subsequent to September 30, 2022 that management believes have changed the Company's or the Bank’s capital category. The actual capital amounts, ratios and the applicable required minimums of the Company and the Bank are as follows: Synchrony Financial At September 30, 2022 ($ in millions) Actual Minimum for capital Amount Ratio (a) Amount Ratio (b) Total risk-based capital $ 14,154 16.5 % $ 6,853 8.0 % Tier 1 risk-based capital $ 13,012 15.2 % $ 5,140 6.0 % Tier 1 leverage $ 13,012 13.2 % $ 3,945 4.0 % Common equity Tier 1 Capital $ 12,278 14.3 % $ 3,855 4.5 % At December 31, 2021 ($ in millions) Actual Minimum for capital Amount Ratio (a) Amount Ratio (b) Total risk-based capital $ 15,122 17.8 % $ 6,796 8.0 % Tier 1 risk-based capital $ 14,003 16.5 % $ 5,097 6.0 % Tier 1 leverage $ 14,003 14.7 % $ 3,800 4.0 % Common equity Tier 1 Capital $ 13,269 15.6 % $ 3,822 4.5 % Synchrony Bank At September 30, 2022 ($ in millions) Actual Minimum for capital Minimum to be well-capitalized under prompt corrective action provisions Amount Ratio (a) Amount Ratio (b) Amount Ratio Total risk-based capital $ 13,414 16.9 % $ 6,350 8.0 % $ 7,937 10.0 % Tier 1 risk-based capital $ 12,356 15.6 % $ 4,762 6.0 % $ 6,350 8.0 % Tier 1 leverage $ 12,356 13.6 % $ 3,638 4.0 % $ 4,548 5.0 % Common equity Tier I capital $ 12,356 15.6 % $ 3,572 4.5 % $ 5,159 6.5 % At December 31, 2021 ($ in millions) Actual Minimum for capital Minimum to be well-capitalized under prompt corrective action provisions Amount Ratio (a) Amount Ratio (b) Amount Ratio Total risk-based capital $ 14,091 18.3 % $ 6,175 8.0 % $ 7,718 10.0 % Tier 1 risk-based capital $ 13,075 16.9 % $ 4,631 6.0 % $ 6,175 8.0 % Tier 1 leverage $ 13,075 15.1 % $ 3,455 4.0 % $ 4,318 5.0 % Common equity Tier I capital $ 13,075 16.9 % $ 3,473 4.5 % $ 5,017 6.5 % _______________________ (a) Capital ratios are calculated based on the Basel III Standardized Approach rules. Capital amounts and ratios at September 30, 2022 and at December 31, 2021 in the above tables reflect the applicable CECL regulatory capital transition adjustment. (b) At September 30, 2022 and at December 31, 2021, Synchrony Financial and the Bank also must maintain a capital conservation buffer of common equity Tier 1 capital in excess of minimum risk-based capital ratios by at least 2.5 percentage points to avoid limits on capital distributions and certain discretionary bonus payments to executive officers and similar employees.

Earnings Per Share

Earnings Per Share	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Earnings Per Share	EARNINGS PER SHARE Basic earnings per share is computed by dividing earnings available to common stockholders by the weighted average number of common shares outstanding for the period. Diluted earnings per common share reflects the assumed conversion of all dilutive securities. The following table presents the calculation of basic and diluted earnings per common share: Three months ended September 30, Nine months ended September 30, (in millions, except per share data) 2022 2021 2022 2021 Net earnings $ 703 $ 1,141 $ 2,439 $ 3,408 Preferred stock dividends (11) (11) $ (32) $ (32) Net earnings available to common stockholders $ 692 $ 1,130 $ 2,407 $ 3,376 Weighted average common shares outstanding, basic 468.5 560.6 492.1 $ 573.6 Effect of dilutive securities 2.2 5.0 2.9 $ 4.6 Weighted average common shares outstanding, dilutive 470.7 565.6 $ 495.0 $ 578.2 Earnings per basic common share $ 1.48 $ 2.02 $ 4.89 $ 5.89 Earnings per diluted common share $ 1.47 $ 2.00 $ 4.86 $ 5.84

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES Unrecognized Tax Benefits ($ in millions) September 30, 2022 December 31, 2021 Unrecognized tax benefits, excluding related interest expense and penalties (a) $ 283 $ 274 Portion that, if recognized, would reduce tax expense and effective tax rate (b) $ 189 $ 160 ____________________ (a) Interest and penalties related to unrecognized tax benefits were not material for all periods presented. (b) Comprised of federal unrecognized tax benefits and state and local unrecognized tax benefits net of the effects of associated U.S. federal income taxes. Excludes amounts attributable to any related valuation allowances resulting from associated increases in deferred tax assets. We establish a liability that represents the difference between a tax position taken (or expected to be taken) on an income tax return and the amount of taxes recognized in our financial statements. The liability associated with the unrecognized tax benefits is adjusted periodically when new information becomes available. The amount of unrecognized tax benefits that is reasonably possible to be resolved in the next twelve months is expected to be $73 million, of which $23 million, if recognized, would reduce the Company's tax expense and effective tax rate. In the current year, the Company executed a Memorandum of Understanding with the IRS to participate voluntarily in the IRS Compliance Assurance Process (“CAP”) program for the 2022 tax year, and thus the tax year is under IRS review. The IRS is also examining our 2021 tax year, and we expect the review will be substantially completed in the current year. Additionally, we are under examination in various states going back to 2014. We believe that there are no issues or claims that are likely to significantly impact our results of operations, financial position or cash flows. We further believe that we have made adequate provision for all income tax uncertainties that could result from such examinations.

Legal Proceedings and Regulator

Legal Proceedings and Regulatory Matters	9 Months Ended
	Sep. 30, 2022
Commitments and Contingencies Disclosure [Abstract]
Legal Proceedings and Regulatory Matters	LEGAL PROCEEDINGS AND REGULATORY MATTERS In the normal course of business, from time to time, we have been named as a defendant in various legal proceedings, including arbitrations, class actions and other litigation, arising in connection with our business activities. Certain of the legal actions include claims for substantial compensatory and/or punitive damages, or claims for indeterminate amounts of damages. We are also involved, from time to time, in reviews, investigations and proceedings (both formal and informal) by governmental agencies regarding our business (collectively, “regulatory matters”), which could subject us to significant fines, penalties, obligations to change our business practices or other requirements resulting in increased expenses, diminished income and damage to our reputation. We contest liability and/or the amount of damages as appropriate in each pending matter. In accordance with applicable accounting guidance, we establish an accrued liability for legal and regulatory matters when those matters present loss contingencies which are both probable and reasonably estimable. Legal proceedings and regulatory matters are subject to many uncertain factors that generally cannot be predicted with assurance, and we may be exposed to losses in excess of any amounts accrued. For some matters, we are able to determine that an estimated loss, while not probable, is reasonably possible. For other matters, including those that have not yet progressed through discovery and/or where important factual information and legal issues are unresolved, we are unable to make such an estimate. We currently estimate that the reasonably possible losses for legal proceedings and regulatory matters, whether in excess of a related accrued liability or where there is no accrued liability, and for which we are able to estimate a possible loss, are immaterial. This represents management’s estimate of possible loss with respect to these matters and is based on currently available information. This estimate of possible loss does not represent our maximum loss exposure. The legal proceedings and regulatory matters underlying the estimate will change from time to time and actual results may vary significantly from current estimates. Our estimate of reasonably possible losses involves significant judgment, given the varying stages of the proceedings, the existence of numerous yet to be resolved issues, the breadth of the claims (often spanning multiple years), unspecified damages and/or the novelty of the legal issues presented. Based on our current knowledge, we do not believe that we are a party to any pending legal proceeding or regulatory matters that would have a material adverse effect on our condensed consolidated financial condition or liquidity. However, in light of the uncertainties involved in such matters, the ultimate outcome of a particular matter could be material to our operating results for a particular period depending on, among other factors, the size of the loss or liability imposed and the level of our earnings for that period, and could adversely affect our business and reputation. Below is a description of certain of our regulatory matters and legal proceedings. On November 2, 2018, a putative class action lawsuit, Retail Wholesale Department Store Union Local 338 Retirement Fund v. Synchrony Financial, et al. , was filed in the U.S. District Court for the District of Connecticut, naming as defendants the Company and two of its officers. The lawsuit asserts violations of the Exchange Act for allegedly making materially misleading statements and/or omitting material information concerning the Company’s underwriting practices and private-label card business, and was filed on behalf of a putative class of persons who purchased or otherwise acquired the Company’s common stock between October 21, 2016 and November 1, 2018. The complaint seeks an award of unspecified compensatory damages, costs and expenses. On February 5, 2019, the court appointed Stichting Depositary APG Developed Markets Equity Pool as lead plaintiff for the putative class. On April 5, 2019, an amended complaint was filed, asserting a new claim for violations of the Securities Act in connection with statements in the offering materials for the Company’s December 1, 2017 note offering. The Securities Act claims are filed on behalf of persons who purchased or otherwise acquired Company bonds in or traceable to the December 1, 2017 note offering between December 1, 2017 and November 1, 2018. The amended complaint names as additional defendants two additional Company officers, the Company’s board of directors, and the underwriters of the December 1, 2017 note offering. The amended complaint is captioned Stichting Depositary APG Developed Markets Equity Pool and Stichting Depositary APG Fixed Income Credit Pool v. Synchrony Financial et al. On March 26, 2020, the District Court recaptioned the case In re Synchrony Financial Securities Litigation and on March 31, 2020, the District Court granted the defendants’ motion to dismiss the complaint with prejudice. On April 20, 2020, plaintiffs filed a notice to appeal the decision to the United States Court of Appeals for the Second Circuit. On February 16, 2021, the Court of Appeals affirmed the District Court’s dismissal of the Securities Act claims and all of the claims under the Exchange Act with the exception of a claim relating to a single statement on January 19, 2018 regarding whether Synchrony was receiving pushback on credit from its retail partners. On January 28, 2019, a purported shareholder derivative action, Gilbert v. Keane, et al. , was filed in the U.S. District Court for the District of Connecticut against the Company as a nominal defendant, and certain of the Company’s officers and directors. The lawsuit alleges breach of fiduciary duty claims based on the allegations raised by the plaintiff in the Stichting Depositary APG class action, unjust enrichment, waste of corporate assets, and that the defendants made materially misleading statements and/or omitted material information in violation of the Exchange Act. The complaint seeks a declaration that the defendants breached and/or aided and abetted the breach of their fiduciary duties to the Company, unspecified monetary damages with interest, restitution, a direction that the defendants take all necessary actions to reform and improve corporate governance and internal procedures, and attorneys’ and experts’ fees. On March 11, 2019, a second purported shareholder derivative action, Aldridge v. Keane, et al. , was filed in the U.S. District Court for the District of Connecticut. The allegations in the Aldridge complaint are substantially similar to those in the Gilbert complaint. On March 26, 2020, the District Court recaptioned the Gilbert and Aldridge cases as In re Synchrony Financial Derivative Litigation.

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2022
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying condensed consolidated financial statements were prepared in conformity with U.S. generally accepted accounting principles (“GAAP”). Preparing financial statements in conformity with U.S. GAAP requires us to make estimates based on assumptions about current, and for some estimates, future, economic and market conditions (for example, unemployment, housing, interest rates and market liquidity) which affect reported amounts and related disclosures in our condensed consolidated financial statements. Although our current estimates contemplate current conditions and how we expect them to change in the future, as appropriate, it is reasonably possible that actual conditions could be different than anticipated in those estimates, which could materially affect our results of operations and financial position. Among other effects, such changes could result in incremental losses on loan receivables, future impairments of debt securities, goodwill and intangible assets, increases in reserves for contingencies, establishment of valuation allowances on deferred tax assets and increases in our tax liabilities. We primarily conduct our business within the United States and Canada and substantially all of our revenues are from U.S. customers. The operating activities conducted by our non-U.S. affiliates use the local currency as their functional currency. The effects of translating the financial statements of these non-U.S. affiliates to U.S. dollars are included in equity. Asset and liability accounts are translated at period-end exchange rates, while revenues and expenses are translated at average rates for the respective periods. Consolidated Basis of Presentation The Company’s financial statements have been prepared on a consolidated basis. Under this basis of presentation, our financial statements consolidate all of our subsidiaries – i.e., entities in which we have a controlling financial interest, most often because we hold a majority voting interest. To determine if we hold a controlling financial interest in an entity, we first evaluate if we are required to apply the variable interest entity (“VIE”) model to the entity, otherwise the entity is evaluated under the voting interest model. Where we hold current or potential rights that give us the power to direct the activities of a VIE that most significantly impact the VIE’s economic performance (“power”) combined with a variable interest that gives us the right to receive potentially significant benefits or the obligation to absorb potentially significant losses (“significant economics”), we have a controlling financial interest in that VIE. Rights held by others to remove the party with power over the VIE are not considered unless one party can exercise those rights unilaterally. We consolidate certain securitization entities under the VIE model because we have both power and significant economics. See Note 5. Variable Interest Entities .
Interim Period Presentation	Interim Period Presentation The condensed consolidated financial statements and notes thereto are unaudited. These statements include all adjustments (consisting of normal recurring accruals) that we considered necessary to present a fair statement of our results of operations, financial position and cash flows. The results reported in these condensed consolidated financial statements should not be considered as necessarily indicative of results that may be expected for the entire year. These condensed consolidated financial statements should be read in conjunction with our 2021 annual consolidated financial statements and the related notes in our Annual Report on Form 10-K for the year ended December 31, 2021 (our "2021 Form 10-K").
New Accounting Standards	New Accounting Standards Recently Issued But Not Yet Adopted Accounting Standards In March 2022, the FASB issued ASU No. 2022-02, Financial Instruments – Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures. This ASU eliminates the separate recognition and measurement guidance for Troubled Debt Restructurings ("TDRs") by creditors. The elimination of the TDR guidance may be adopted prospectively for loan modifications after adoption or on a modified retrospective basis, which would also apply to loans previously modified, resulting in a cumulative effect adjustment to retained earnings in the period of adoption for changes in the allowance for credit losses. This guidance is effective for the Company on January 1, 2023, with early adoption permitted. The Company is currently assessing the impacts of the guidance and plans to adopt the guidance on January 1, 2023 on a modified retrospective basis.

Debt Securities (Tables)

Debt Securities (Tables)	9 Months Ended
	Sep. 30, 2022
Investments, Debt and Equity Securities [Abstract]
Schedule of Available-for-sale Securities Reconciliation	Our debt securities consist of the following: September 30, 2022 December 31, 2021 Gross Gross Gross Gross Amortized unrealized unrealized Estimated Amortized unrealized unrealized Estimated ($ in millions) cost gains losses fair value cost gains losses fair value U.S. government and federal agency $ 3,763 $ — $ (61) $ 3,702 $ 2,222 $ — $ (2) $ 2,220 State and municipal 10 — — 10 13 — — 13 Residential mortgage-backed (a) 490 — (54) 436 597 12 (3) 606 Asset-backed (b) 951 — (24) 927 2,432 2 (4) 2,430 Other 8 — (1) 7 13 1 — 14 Total $ 5,222 $ — $ (140) $ 5,082 $ 5,277 $ 15 $ (9) $ 5,283 _______________________ (a) All of our residential mortgage-backed securities have been issued by government-sponsored entities and are collateralized by U.S. mortgages. At September 30, 2022 and December 31, 2021, $102 million and $145 million of residential mortgage-backed securities, respectively, are pledged by the Bank as collateral to the Federal Reserve to secure Federal Reserve Discount Window advances. (b) Our asset-backed securities are collateralized by credit card and auto loans.
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value	The following table presents the estimated fair values and gross unrealized losses of our available-for-sale debt securities: In loss position for Less than 12 months 12 months or more Gross Gross Estimated unrealized Estimated unrealized ($ in millions) fair value losses fair value losses At September 30, 2022 U.S. government and federal agency $ 3,405 $ (55) $ 297 $ (6) State and municipal 7 — 3 — Residential mortgage-backed 337 (35) 98 (19) Asset-backed 432 (10) 382 (14) Other 7 (1) — — Total $ 4,188 $ (101) $ 780 $ (39) At December 31, 2021 U.S. government and federal agency $ 563 $ (2) $ — $ — State and municipal 4 — — — Residential mortgage-backed 105 (2) 27 (1) Asset-backed 1,653 (4) — — Total $ 2,325 $ (8) $ 27 $ (1)
Investments Classified by Contractual Maturity Date	Contractual Maturities of Investments in Available-for-Sale Debt Securities Amortized Estimated Weighted At September 30, 2022 ($ in millions) cost fair value Average yield (a) Due Within one year $ 3,466 $ 3,442 2.2 % After one year through five years $ 1,640 $ 1,542 1.1 % After five years through ten years $ 90 $ 76 1.9 % After ten years $ 26 $ 22 2.8 % _____________________ (a) Weighted average yield is calculated based on the amortized cost of each security. In calculating yield, no adjustment has been made with respect to any tax-exempt obligations.

Loan Receivables and Allowanc_2

Loan Receivables and Allowance for Credit Losses (Tables)	9 Months Ended
	Sep. 30, 2022
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable	($ in millions) September 30, 2022 December 31, 2021 Credit cards $ 81,254 $ 76,628 Consumer installment loans 2,945 2,675 Commercial credit products 1,723 1,372 Other 90 65 Total loan receivables, before allowance for credit losses (a)(b) $ 86,012 $ 80,740 _______________________ (a) Total loan receivables include $18.4 billion and $20.5 billion of restricted loans of consolidated securitization entities at September 30, 2022 and December 31, 2021, respectively. See Note 5. Variable Interest Entities for further information on these restricted loans. (b) At September 30, 2022 and December 31, 2021, loan receivables included deferred costs, net of deferred income, of $213 million and $211 million, respectively.
Allowance for Credit Losses on Financing Receivables	Allowance for Credit Losses ($ in millions) Balance at July 1, 2022 Provision charged to operations Gross charge-offs Recoveries Other Balance at Credit cards $ 8,605 $ 864 $ (785) $ 189 $ — $ 8,873 Consumer installment loans 129 38 (25) 4 — 146 Commercial credit products 71 26 (19) 2 — 80 Other 3 1 (1) — — 3 Total $ 8,808 $ 929 $ (830) $ 195 $ — $ 9,102 ($ in millions) Balance at July 1, 2021 Provision charged to operations Gross charge-offs Recoveries Other Balance at Credit cards $ 8,904 $ (22) $ (625) $ 208 $ — $ 8,465 Consumer installment loans 67 37 (11) 4 — 97 Commercial credit products 50 10 (8) 1 — 53 Other 2 — (1) — — 1 Total $ 9,023 $ 25 $ (645) $ 213 $ — $ 8,616 ($ in millions) Balance at January 1, 2022 Provision charged to operations Gross charge-offs Recoveries Other Balance at Credit cards $ 8,512 $ 2,028 $ (2,273) $ 606 $ — $ 8,873 Consumer installment loans 115 80 (63) 14 — 146 Commercial credit products 59 64 (48) 5 — 80 Other 2 2 (1) — — 3 Total $ 8,688 $ 2,174 $ (2,385) $ 625 $ — $ 9,102 ($ in millions) Balance at January 1, 2021 Provision charged to operations Gross charge-offs Recoveries Other Balance at Credit cards $ 10,076 $ 156 $ (2,407) $ 640 $ — $ 8,465 Consumer installment loans 127 (7) (38) 14 1 97 Commercial credit products 61 15 (27) 4 — 53 Other 1 1 (1) — — 1 Total $ 10,265 $ 165 $ (2,473) $ 658 $ 1 $ 8,616
Past Due Financing Receivables	Delinquent and Non-accrual Loans At September 30, 2022 ($ in millions) 30-89 days delinquent 90 or more days delinquent Total past due 90 or more days delinquent and accruing Total non-accruing Credit cards $ 1,500 $ 1,200 $ 2,700 $ 1,200 $ — Consumer installment loans 47 10 57 — 10 Commercial credit products 39 22 61 22 — Total delinquent loans $ 1,586 $ 1,232 $ 2,818 $ 1,222 $ 10 Percentage of total loan receivables 1.8 % 1.4 % 3.3 % 1.4 % — % At December 31, 2021 ($ in millions) 30-89 days delinquent 90 or more days delinquent Total past due 90 or more days delinquent and accruing Total non-accruing Credit cards $ 1,111 $ 923 $ 2,034 $ 923 $ — Consumer installment loans 35 6 41 — 6 Commercial credit products 26 13 39 13 — Total delinquent loans $ 1,172 $ 942 $ 2,114 $ 936 $ 6 Percentage of total loan receivables 1.5 % 1.2 % 2.6 % 1.2 % — % Delinquency trends are the primary credit quality indicator for our consumer installment loans, which we use to monitor credit quality and risk within the portfolio. Total consumer installment past due of $57 million and $41 million at September 30, 2022 and December 31, 2021, respectively, were not material.
Troubled Debt Restructurings on Financing Receivables	The following table provides information on our TDR loan modifications during the periods presented: Three months ended September 30, Nine months ended September 30, ($ in millions) 2022 2021 2022 2021 Credit cards $ 265 $ 149 $ 681 $ 564 Consumer installment loans — — — — Commercial credit products 1 1 2 2 Total $ 266 $ 150 $ 683 $ 566
Impaired Financing Receivables	The following table provides information about loans classified as TDRs and specific reserves. We do not evaluate credit card loans on an individual basis but instead estimate an allowance for credit losses on a collective basis. At September 30, 2022 ($ in millions) Total recorded Related allowance Net recorded investment Unpaid principal balance Credit cards $ 1,255 $ (512) $ 743 $ 1,122 Consumer installment loans — — — — Commercial credit products 3 (1) 2 3 Total $ 1,258 $ (513) $ 745 $ 1,125 At December 31, 2021 ($ in millions) Total recorded Related allowance Net recorded investment Unpaid principal balance Credit cards $ 1,171 $ (481) $ 690 $ 1,053 Consumer installment loans — — — — Commercial credit products 3 (1) 2 3 Total $ 1,174 $ (482) $ 692 $ 1,056 Three months ended September 30, 2022 2021 ($ in millions) Interest income recognized during period when loans were modified Interest income that would have been recorded with original terms Average recorded investment Interest income recognized during period when loans were modified Interest income that would have been recorded with original terms Average recorded investment Credit cards $ 9 $ 80 $ 1,218 $ 11 $ 79 $ 1,196 Consumer installment loans — — — — — — Commercial credit products — 1 4 — 1 4 Total $ 9 $ 81 $ 1,222 $ 11 $ 80 $ 1,200 Nine months ended September 30, 2022 2021 ($ in millions) Interest income recognized during period when loans were modified Interest income that would have been recorded with original terms Average recorded investment Interest income recognized during period when loans were modified Interest income that would have been recorded with original terms Average recorded investment Credit cards $ 26 $ 234 $ 1,201 $ 30 $ 235 $ 1,235 Consumer installment loans — — — — — — Commercial credit products — 1 3 — 1 4 Total $ 26 $ 235 $ 1,204 $ 30 $ 236 $ 1,239
Troubled Debt Restructurings on Financing Receivables, Subsequent Default	The following table presents the type, number and amount of loans accounted for as TDRs that enrolled in a modification plan within the previous 12 months from the applicable balance sheet date and experienced a payment default and charged-off during the periods presented. Three months ended September 30, 2022 2021 ($ in millions) Accounts defaulted Loans defaulted Accounts defaulted Loans defaulted Credit cards 25,288 $ 56 18,082 $ 48 Consumer installment loans — — — — Commercial credit products 51 — 42 — Total 25,339 $ 56 18,124 $ 48 Nine months ended September 30, 2022 2021 ($ in millions) Accounts defaulted Loans defaulted Accounts defaulted Loans defaulted Credit cards 51,944 $ 116 43,897 $ 114 Consumer installment loans — — — — Commercial credit products 104 1 100 1 Total 52,048 $ 117 43,997 $ 115
Financing Receivable Credit Quality Indicators	The following table provides the most recent VantageScore scores available for our customers at September 30, 2022, December 31, 2021 and September 30, 2021, respectively, as a percentage of each class of loan receivable. The table below excludes 0.4%, 0.4% and 0.4% of our total loan receivables balance at each of September 30, 2022, December 31, 2021 and September 30, 2021, respectively, which represents those customer accounts for which a VantageScore score is not available. September 30, 2022 December 31, 2021 September 30, 2021 651 or 591 to 590 or 651 or 591 to 590 or 651 or 591 to 590 or higher 650 less higher 650 less higher 650 less Credit cards 75 % 18 % 7 % 78 % 17 % 5 % 79 % 17 % 4 % Consumer installment loans 77 % 17 % 6 % 79 % 17 % 4 % 80 % 16 % 4 % Commercial credit products 90 % 6 % 4 % 92 % 5 % 3 % 93 % 4 % 3 %
Interest Income and Interest Expense Disclosure	The following table provides additional information about our interest and fees on loans, including merchant discounts, from our loan receivables, including held for sale: Three months ended September 30, Nine months ended September 30, ($ in millions) 2022 2021 2022 2021 Credit cards (a) $ 4,153 $ 3,793 $ 12,009 $ 10,934 Consumer installment loans 74 64 209 176 Commercial credit products 30 29 83 73 Other 1 1 4 3 Total $ 4,258 $ 3,887 $ 12,305 $ 11,186 _______________________ (a) Interest income on credit cards that was reversed related to accrued interest receivables written off was $265 million and $199 million for the three months ended September 30, 2022 and 2021, respectively, and $770 million and $800 million for the nine months ended September 30, 2022 and 2021, respectively.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	9 Months Ended
	Sep. 30, 2022
Variable Interest Entities [Abstract]
Schedule of Variable Interest Entities	The table below summarizes the assets and liabilities of our consolidated securitization VIEs described above: ($ in millions) September 30, 2022 December 31, 2021 Assets Loan receivables, net (a) $ 16,629 $ 18,594 Loan receivables held for sale — 1,398 Other assets (b) 1,031 292 Total $ 17,660 $ 20,284 Liabilities Borrowings $ 6,360 $ 7,288 Other liabilities 18 14 Total $ 6,378 $ 7,302 _______________________ (a) Includes $1.7 billion and $1.9 billion of related allowance for credit losses resulting in gross restricted loans of $18.4 billion and $20.5 billion at September 30, 2022 and December 31, 2021, respectively. (b) Includes $1.0 billion and $288 million of segregated funds held by the VIEs at September 30, 2022 and December 31, 2021, respectively, which are classified as restricted cash and equivalents and included as a component of other assets

Intangible Assets (Tables)

Intangible Assets (Tables)	9 Months Ended
	Sep. 30, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	September 30, 2022 December 31, 2021 ($ in millions) Gross carrying amount Accumulated amortization Net Gross carrying amount Accumulated amortization Net Customer-related $ 1,622 $ (1,088) $ 534 $ 1,797 $ (1,222) $ 575 Capitalized software and other 1,491 (992) 499 1,407 (814) 593 Total $ 3,113 $ (2,080) $ 1,033 $ 3,204 $ (2,036) $ 1,168

Deposits (Tables)

Deposits (Tables)	9 Months Ended
	Sep. 30, 2022
Deposits [Abstract]
Schedule of Deposit Liabilities	September 30, 2022 December 31, 2021 ($ in millions) Amount Average rate (a) Amount Average rate (a) Interest-bearing deposits $ 68,032 1.2 % $ 61,911 0.9 % Non-interest-bearing deposits 372 — 359 — Total deposits $ 68,404 $ 62,270 ____________________ (a) Based on interest expense for the nine months ended September 30, 2022 and the year ended December 31, 2021 and average deposits balances.
Schedule of Maturities of Deposit Liabilities	At September 30, 2022, our interest-bearing time deposits maturing for the remainder of 2022 and over the next four years and thereafter were as follows: ($ in millions) 2022 2023 2024 2025 2026 Thereafter Deposits $ 3,690 $ 17,931 $ 6,000 $ 1,876 $ 635 $ 1,579

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
	Sep. 30, 2022
Debt Disclosure [Abstract]
Schedule of Debt	September 30, 2022 December 31, 2021 ($ in millions) Maturity date Interest Rate Weighted average interest rate Outstanding Amount (a) Outstanding Amount (a) Borrowings of consolidated securitization entities: Fixed securitized borrowings 2022 - 2025 2.62% - 3.87% 3.31 % $ 3,260 $ 3,188 Floating securitized borrowings 2023 - 2025 3.48% - 3.79% 3.60 % 3,100 4,100 Total borrowings of consolidated securitization entities 3.45 % 6,360 7,288 Senior unsecured notes: Synchrony Financial senior unsecured notes: Fixed senior unsecured notes 2024 - 2031 2.87% - 5.15% 4.22 % 6,471 6,470 Synchrony Bank senior unsecured notes: Fixed senior unsecured notes 2025 - 2027 5.40% - 5.63% 5.49 % 1,490 749 Total senior unsecured notes 4.45 % 7,961 7,219 Total borrowings $ 14,321 $ 14,507 ___________________ (a) The amounts presented above for outstanding borrowings include unamortized debt premiums, discounts and issuance costs.
Schedule of Maturities of Long-term Debt	The following table summarizes the maturities of the principal amount of our borrowings of consolidated securitization entities and senior unsecured notes for the remainder of 2022 and over the next four years and thereafter: ($ in millions) 2022 2023 2024 2025 2026 Thereafter Borrowings $ 883 $ 2,007 $ 3,150 $ 4,825 $ 500 $ 3,000
Schedule of Debt Issuances	2022 Issuance ($ in millions ): Issuance Date Principal Amount Maturity Interest Rate Synchrony Financial June 2022 $ 750 June 2025 4.875% Synchrony Bank August 2022 $ 900 August 2025 5.400% August 2022 $ 600 August 2027 5.625%

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2022
Fair Value Disclosures [Abstract]
Fair Value, Assets Measured on Recurring Basis	The following tables present our assets and liabilities measured at fair value on a recurring basis. Recurring Fair Value Measurements At September 30, 2022 ($ in millions) Level 1 Level 2 Level 3 Total (a) Assets Debt securities U.S. government and federal agency $ — $ 3,702 $ — $ 3,702 State and municipal — — 10 10 Residential mortgage-backed — 436 — 436 Asset-backed — 927 — 927 Other — — 7 7 Other (b) 14 — 15 29 Total $ 14 $ 5,065 $ 32 $ 5,111 Liabilities Other (c) — — 8 8 Total $ — $ — $ 8 $ 8 At December 31, 2021 ($ in millions) Assets Debt securities U.S. government and federal agency $ — $ 2,220 $ — $ 2,220 State and municipal — — 13 13 Residential mortgage-backed — 606 — 606 Asset-backed — 2,430 — 2,430 Other — — 14 14 Other (b) 15 — 34 49 Total $ 15 $ 5,256 $ 61 $ 5,332 Liabilities Other (c) — — 14 14 Total $ — $ — $ 14 $ 14 _______________________ (a) For the nine months ended September 30, 2022 and 2021, there were no fair value measurements transferred between levels. (b) Other is primarily comprised of equity investments measured at fair value, which are included in Other assets in our Statement of Financial Position, as well as certain financial assets for which we have elected the fair value option which are included in Loan receivables in our Statement of Financial Position. (c) Other is primarily comprised of certain financial liabilities for which we have elected the fair value option, which are included in Accrued expenses and other liabilities in our Statement of Financial Position.
Fair Value, by Balance Sheet Grouping	Financial Assets and Financial Liabilities Carried at Other Than Fair Value Carrying Corresponding fair value amount At September 30, 2022 ($ in millions) value Total Level 1 Level 2 Level 3 Financial Assets Financial assets for which carrying values equal or approximate fair value: Cash and equivalents (a) $ 11,962 $ 11,962 $ 11,962 $ — $ — Other assets (a)(b) $ 1,099 $ 1,099 $ 1,099 $ — $ — Financial assets carried at other than fair value: Loan receivables, net (c) $ 76,895 $ 87,914 $ — $ — $ 87,914 Financial Liabilities Financial liabilities carried at other than fair value: Deposits $ 68,404 $ 67,419 $ — $ 67,419 $ — Borrowings of consolidated securitization entities $ 6,360 $ 6,245 $ — $ 3,187 $ 3,058 Senior unsecured notes $ 7,961 $ 7,396 $ — $ 7,396 $ — Carrying Corresponding fair value amount At December 31, 2021 ($ in millions) value Total Level 1 Level 2 Level 3 Financial Assets Financial assets for which carrying values equal or approximate fair value: Cash and equivalents (a) $ 8,337 $ 8,337 $ 8,337 $ — $ — Other assets (a)(b) $ 349 $ 349 $ 349 $ — $ — Financial assets carried at other than fair value: Loan receivables, net (c) $ 72,034 $ 84,483 $ — $ — $ 84,483 Loan receivables held for sale (c) $ 4,361 $ 4,499 $ — $ — $ 4,499 Financial Liabilities Financial liabilities carried at other than fair value: Deposits $ 62,270 $ 62,486 $ — $ 62,486 $ — Borrowings of consolidated securitization entities $ 7,288 $ 7,359 $ — $ 3,238 $ 4,121 Senior unsecured notes $ 7,219 $ 7,662 $ — $ 7,662 $ — _______________________ (a) For cash and equivalents and restricted cash and equivalents, carrying value approximates fair value due to the liquid nature and short maturity of these instruments. (b) This balance relates to restricted cash and equivalents, which is included in other assets.
Equity Securities without Readily Determinable Fair Value	Three months ended September 30, Nine months ended September 30, ($ in millions) 2022 2021 2022 2021 Carry Value (a) $ 246 $ 135 $ 246 $ 135 Upward adjustments (b) — 9 7 57 Downward adjustments (b) (1) — (3) (1) _______________________ (a) The carrying value as of December 31, 2021 was $232 million.

Regulatory and Capital Adequa_2

Regulatory and Capital Adequacy (Tables)	9 Months Ended
	Sep. 30, 2022
Banking Regulation, Risk-Based Information [Abstract]
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations	The actual capital amounts, ratios and the applicable required minimums of the Company and the Bank are as follows: Synchrony Financial At September 30, 2022 ($ in millions) Actual Minimum for capital Amount Ratio (a) Amount Ratio (b) Total risk-based capital $ 14,154 16.5 % $ 6,853 8.0 % Tier 1 risk-based capital $ 13,012 15.2 % $ 5,140 6.0 % Tier 1 leverage $ 13,012 13.2 % $ 3,945 4.0 % Common equity Tier 1 Capital $ 12,278 14.3 % $ 3,855 4.5 % At December 31, 2021 ($ in millions) Actual Minimum for capital Amount Ratio (a) Amount Ratio (b) Total risk-based capital $ 15,122 17.8 % $ 6,796 8.0 % Tier 1 risk-based capital $ 14,003 16.5 % $ 5,097 6.0 % Tier 1 leverage $ 14,003 14.7 % $ 3,800 4.0 % Common equity Tier 1 Capital $ 13,269 15.6 % $ 3,822 4.5 % Synchrony Bank At September 30, 2022 ($ in millions) Actual Minimum for capital Minimum to be well-capitalized under prompt corrective action provisions Amount Ratio (a) Amount Ratio (b) Amount Ratio Total risk-based capital $ 13,414 16.9 % $ 6,350 8.0 % $ 7,937 10.0 % Tier 1 risk-based capital $ 12,356 15.6 % $ 4,762 6.0 % $ 6,350 8.0 % Tier 1 leverage $ 12,356 13.6 % $ 3,638 4.0 % $ 4,548 5.0 % Common equity Tier I capital $ 12,356 15.6 % $ 3,572 4.5 % $ 5,159 6.5 % At December 31, 2021 ($ in millions) Actual Minimum for capital Minimum to be well-capitalized under prompt corrective action provisions Amount Ratio (a) Amount Ratio (b) Amount Ratio Total risk-based capital $ 14,091 18.3 % $ 6,175 8.0 % $ 7,718 10.0 % Tier 1 risk-based capital $ 13,075 16.9 % $ 4,631 6.0 % $ 6,175 8.0 % Tier 1 leverage $ 13,075 15.1 % $ 3,455 4.0 % $ 4,318 5.0 % Common equity Tier I capital $ 13,075 16.9 % $ 3,473 4.5 % $ 5,017 6.5 % _______________________ (a) Capital ratios are calculated based on the Basel III Standardized Approach rules. Capital amounts and ratios at September 30, 2022 and at December 31, 2021 in the above tables reflect the applicable CECL regulatory capital transition adjustment. (b) At September 30, 2022 and at December 31, 2021, Synchrony Financial and the Bank also must maintain a capital conservation buffer of common equity Tier 1 capital in excess of minimum risk-based capital ratios by at least 2.5 percentage points to avoid limits on capital distributions and certain discretionary bonus payments to executive officers and similar employees.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	9 Months Ended
	Sep. 30, 2022
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table presents the calculation of basic and diluted earnings per common share: Three months ended September 30, Nine months ended September 30, (in millions, except per share data) 2022 2021 2022 2021 Net earnings $ 703 $ 1,141 $ 2,439 $ 3,408 Preferred stock dividends (11) (11) $ (32) $ (32) Net earnings available to common stockholders $ 692 $ 1,130 $ 2,407 $ 3,376 Weighted average common shares outstanding, basic 468.5 560.6 492.1 $ 573.6 Effect of dilutive securities 2.2 5.0 2.9 $ 4.6 Weighted average common shares outstanding, dilutive 470.7 565.6 $ 495.0 $ 578.2 Earnings per basic common share $ 1.48 $ 2.02 $ 4.89 $ 5.89 Earnings per diluted common share $ 1.47 $ 2.00 $ 4.86 $ 5.84

Incomes Taxes (Tables)

Incomes Taxes (Tables)	9 Months Ended
	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Unrecognized Tax Benefits	($ in millions) September 30, 2022 December 31, 2021 Unrecognized tax benefits, excluding related interest expense and penalties (a) $ 283 $ 274 Portion that, if recognized, would reduce tax expense and effective tax rate (b) $ 189 $ 160 ____________________ (a) Interest and penalties related to unrecognized tax benefits were not material for all periods presented. (b) Comprised of federal unrecognized tax benefits and state and local unrecognized tax benefits net of the effects of associated U.S. federal income taxes. Excludes amounts attributable to any related valuation allowances resulting from associated increases in deferred tax assets.

Debt Securities - Schedule of A

Debt Securities - Schedule of Available for Sale Securities (Details) - USD ($) $ in Millions		Sep. 30, 2022	Dec. 31, 2021
Debt
Amortized cost		$ 5,222	$ 5,277
Gross unrealized gains		0	15
Gross unrealized losses		(140)	(9)
Estimated fair value		5,082	5,283
U.S. government and federal agency
Debt
Amortized cost		3,763	2,222
Gross unrealized gains		0	0
Gross unrealized losses		(61)	(2)
Estimated fair value		3,702	2,220
State and municipal
Debt
Amortized cost		10	13
Gross unrealized gains		0	0
Gross unrealized losses		0	0
Estimated fair value		10	13
Residential mortgage-backed
Debt Securities, Available-for-sale [Line Items]
Residential Mortgage Backed Securities pledged as collateral to the Federal Reserve		102	145
Debt
Amortized cost	[1]	490	597
Gross unrealized gains	[1]	0	12
Gross unrealized losses	[1]	(54)	(3)
Estimated fair value	[1]	436	606
Asset-backed
Debt
Amortized cost	[2]	951	2,432
Gross unrealized gains	[2]	0	2
Gross unrealized losses	[2]	(24)	(4)
Estimated fair value	[2]	927	2,430
Other Debt Obligations
Debt
Amortized cost		8	13
Gross unrealized gains		0	1
Gross unrealized losses		(1)	0
Estimated fair value		$ 7	$ 14
[1]All of our residential mortgage-backed securities have been issued by government-sponsored entities and are collateralized by U.S. mortgages. At September 30, 2022 and December 31, 2021, $102 million and $145 million of residential mortgage-backed securities, respectively, are pledged by the Bank as collateral to the Federal Reserve to secure Federal Reserve Discount Window advances.[2]Our asset-backed securities are collateralized by credit card and auto loans.

Debt Securities - Continuous Un

Debt Securities - Continuous Unrealized Losses (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Estimated fair value
Less than 12 months	$ 4,188	$ 2,325
12 months or more	780	27
Gross unrealized losses
Less than 12 months	(101)	(8)
12 months or more	(39)	(1)
U.S. government and federal agency
Estimated fair value
Less than 12 months	3,405	563
12 months or more	297	0
Gross unrealized losses
Less than 12 months	(55)	(2)
12 months or more	(6)	0
State and municipal
Estimated fair value
Less than 12 months	7	4
12 months or more	3	0
Gross unrealized losses
Less than 12 months	0	0
12 months or more	0	0
Residential mortgage-backed
Estimated fair value
Less than 12 months	337	105
12 months or more	98	27
Gross unrealized losses
Less than 12 months	(35)	(2)
12 months or more	(19)	(1)
Asset-backed
Estimated fair value
Less than 12 months	432	1,653
12 months or more	382	0
Gross unrealized losses
Less than 12 months	(10)	(4)
12 months or more	(14)	$ 0
Other Debt Obligations
Estimated fair value
Less than 12 months	7
12 months or more	0
Gross unrealized losses
Less than 12 months	(1)
12 months or more	$ 0

Debt Securities - Contractual M

Debt Securities - Contractual Maturities (Details) $ in Millions	Sep. 30, 2022 USD ($)
Amortized Cost
Within one year	$ 3,466
After one year through five years	1,640
After five years through ten years	90
After ten years	26
Estimated Fair Value
Within one year	3,442
After one year through five years	1,542
After five years through ten years	76
After ten years	$ 22
Weighted Average Yield
Within one year	2.20%	[1]
After one year through five years	1.10%	[1]
After five years through ten years	1.90%	[1]
After ten years	2.80%	[1]
[1]Weighted average yield is calculated based on the amortized cost of each security. In calculating yield, no adjustment has been made with respect to any tax-exempt obligations.

Loan Receivables and Allowanc_3

Loan Receivables and Allowance for Credit Losses - Loan Receivables (Details) - USD ($) $ in Millions		Sep. 30, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables: (Notes 4 and 5)	[1],[2]	$ 86,012	$ 80,740
Loan Receivable, Deferred Income		213	211
Credit cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables: (Notes 4 and 5)		81,254	76,628
Consumer installment loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables: (Notes 4 and 5)		2,945	2,675
Commercial credit products
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables: (Notes 4 and 5)		1,723	1,372
Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables: (Notes 4 and 5)		$ 90	$ 65
[1] Total loan receivables include $18.4 billion and $20.5 billion of restricted loans of consolidated securitization entities at September 30, 2022 and December 31, 2021, respectively. See Note 5. Variable Interest Entities for further information on these restricted loans.

Loan Receivables and Allowanc_4

Loan Receivables and Allowance for Credit Losses - Allowance for Credit Losses (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Allowance for Credit Loss	$ 9,102	$ 8,616	$ 9,102	$ 8,616	$ 8,808	$ 8,688	$ 9,023	$ 10,265
Provision for credit losses	929	25	2,174	165
Gross charge-offs	(830)	(645)	(2,385)	(2,473)
Recoveries	195	213	625	658
Other	0	0	0	1
Credit cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Allowance for Credit Loss	8,873	8,465	8,873	8,465	8,605	8,512	8,904	10,076
Provision for credit losses	864	(22)	2,028	156
Gross charge-offs	(785)	(625)	(2,273)	(2,407)
Recoveries	189	208	606	640
Other	0	0	0	0
Consumer installment loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Allowance for Credit Loss	146	97	146	97	129	115	67	127
Provision for credit losses	38	37	80	(7)
Gross charge-offs	(25)	(11)	(63)	(38)
Recoveries	4	4	14	14
Other	0	0	0	1
Commercial credit products
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Allowance for Credit Loss	80	53	80	53	71	59	50	61
Provision for credit losses	26	10	64	15
Gross charge-offs	(19)	(8)	(48)	(27)
Recoveries	2	1	5	4
Other	0	0	0	0
Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Allowance for Credit Loss	3	1	3	1	$ 3	$ 2	$ 2	$ 1
Provision for credit losses	1	0	2	1
Gross charge-offs	(1)	(1)	(1)	(1)
Recoveries	0	0	0	0
Other	$ 0	$ 0	$ 0	$ 0

Loan Receivables and Allowanc_5

Loan Receivables and Allowance for Credit Losses - Delinquent and Non Accrual Status (Details) - USD ($) $ in Millions		9 Months Ended
		Sep. 30, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables: (Notes 4 and 5)	[1],[2]	$ 86,012	$ 80,740
90 or more days delinquent and accruing		1,222	936
Total non-accruing		$ 10	$ 6
Loans and Leases Receivable, Maximum Maturity Period for Loans in Permanent Modification Program		60 months
Financing Receivable, Percentage of Total Loan Receivables
Percentage of total loan receivables, 30-89 days delinquent		1.80%	1.50%
Percentage of total loan receivables, 90 or more days delinquent		1.40%	1.20%
Percentage of total loan receivables, Past due		3.30%	2.60%
Percentage of total loan receivables, 90 or more days delinquent and accruing		1.40%	1.20%
Percentage of total loan receivables, Total non-accruing		0%	0%
Credit cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables: (Notes 4 and 5)		$ 81,254	$ 76,628
90 or more days delinquent and accruing		1,200	923
Total non-accruing		0	0
Consumer installment loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables: (Notes 4 and 5)		2,945	2,675
90 or more days delinquent and accruing		0	0
Total non-accruing		10	6
Commercial credit products
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables: (Notes 4 and 5)		1,723	1,372
90 or more days delinquent and accruing		22	13
Total non-accruing		0	0
Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables: (Notes 4 and 5)		90	65
Financing Receivables, 30 to 89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables: (Notes 4 and 5)		1,586	1,172
Financing Receivables, 30 to 89 Days Past Due | Credit cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables: (Notes 4 and 5)		1,500	1,111
Financing Receivables, 30 to 89 Days Past Due | Consumer installment loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables: (Notes 4 and 5)		47	35
Financing Receivables, 30 to 89 Days Past Due | Commercial credit products
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables: (Notes 4 and 5)		39	26
Financial Asset, Equal to or Greater than 90 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables: (Notes 4 and 5)		1,232	942
Financial Asset, Equal to or Greater than 90 Days Past Due | Credit cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables: (Notes 4 and 5)		1,200	923
Financial Asset, Equal to or Greater than 90 Days Past Due | Consumer installment loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables: (Notes 4 and 5)		10	6
Financial Asset, Equal to or Greater than 90 Days Past Due | Commercial credit products
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables: (Notes 4 and 5)		22	13
Financial Asset, Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables: (Notes 4 and 5)		2,818	2,114
Financial Asset, Past Due | Credit cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables: (Notes 4 and 5)		2,700	2,034
Financial Asset, Past Due | Consumer installment loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables: (Notes 4 and 5)		57	41
Financial Asset, Past Due | Commercial credit products
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables: (Notes 4 and 5)		$ 61	$ 39
[1] Total loan receivables include $18.4 billion and $20.5 billion of restricted loans of consolidated securitization entities at September 30, 2022 and December 31, 2021, respectively. See Note 5. Variable Interest Entities for further information on these restricted loans.

Loan Receivables and Allowanc_6

Loan Receivables and Allowance for Credit Losses - Loans Entered into a Loan Modification Program (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans entered into a modification program	$ 266	$ 150	$ 683	$ 566
Credit cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans entered into a modification program	265	149	681	564
Consumer installment loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans entered into a modification program	0	0	0	0
Commercial credit products
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loans entered into a modification program	$ 1	$ 1	$ 2	$ 2

Loan Receivables and Allowanc_7

Loan Receivables and Allowance for Credit Losses - Classified as TDRs (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total recorded investment	$ 1,258	$ 1,174
Related allowance	(513)	(482)
Net recorded investment	745	692
Unpaid principal balance	1,125	1,056
Credit cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total recorded investment	1,255	1,171
Related allowance	(512)	(481)
Net recorded investment	743	690
Unpaid principal balance	1,122	1,053
Consumer installment loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total recorded investment	0	0
Related allowance	0	0
Net recorded investment	0	0
Unpaid principal balance	0	0
Commercial credit products
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total recorded investment	3	3
Related allowance	(1)	(1)
Net recorded investment	2	2
Unpaid principal balance	$ 3	$ 3

Loan Receivables and Allowanc_8

Loan Receivables and Allowance for Credit Losses - Financial Effects of TDRs (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Jun. 30, 2022	Dec. 31, 2021	Jun. 30, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Allowance for Credit Loss	$ 9,102	$ 8,616	$ 9,102	$ 8,616	$ 8,808	$ 8,688	$ 9,023	$ 10,265
Interest income recognized during period when loans were modified	9	11	26	30
Interest income that would have been recorded with original terms	81	80	235	236
Average recorded investment	1,222	1,200	1,204	1,239
Credit cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Allowance for Credit Loss	8,873	8,465	8,873	8,465	8,605	8,512	8,904	10,076
Interest income recognized during period when loans were modified	9	11	26	30
Interest income that would have been recorded with original terms	80	79	234	235
Average recorded investment	1,218	1,196	1,201	1,235
Consumer installment loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Allowance for Credit Loss	146	97	146	97	129	115	67	127
Interest income recognized during period when loans were modified	0	0	0	0
Interest income that would have been recorded with original terms	0	0	0	0
Average recorded investment	0	0	0	0
Commercial credit products
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Allowance for Credit Loss	80	53	80	53	71	59	50	61
Interest income recognized during period when loans were modified	0	0	0	0
Interest income that would have been recorded with original terms	1	1	1	1
Average recorded investment	4	4	3	4
Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Allowance for Credit Loss	$ 3	$ 1	$ 3	$ 1	$ 3	$ 2	$ 2	$ 1

Loan Receivables and Allowanc_9

Loan Receivables and Allowance for Credit Losses - Payment Defaults (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022 USD ($) contract	Sep. 30, 2021 USD ($) contract	Sep. 30, 2022 USD ($) contract	Sep. 30, 2021 USD ($) contract
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts defaulted | contract	25,339	18,124	52,048	43,997
Loans defaulted | $	$ 56	$ 48	$ 117	$ 115
Credit cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts defaulted | contract	25,288	18,082	51,944	43,897
Loans defaulted | $	$ 56	$ 48	$ 116	$ 114
Consumer installment loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts defaulted | contract	0	0	0	0
Loans defaulted | $	$ 0	$ 0	$ 0	$ 0
Commercial credit products
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts defaulted | contract	51	42	104	100
Loans defaulted | $	$ 0	$ 0	$ 1	$ 1

Loan Receivables and Allowan_10

Loan Receivables and Allowance for Credit Losses - Credit Quality Indicators (Details)	Sep. 30, 2022	Dec. 31, 2021	Sep. 30, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Credit Quality Indicators, Percentage of Loan Receivables with No Vantage Score	0.40%	0.40%	0.40%
Credit cards | Six Hundred and Fifty-One or Higher
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of class of loan receivable	75%	78%	79%
Credit cards | Five Hundred and Ninety-One to Six Hundred and Fifty
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of class of loan receivable	18%	17%	17%
Credit cards | Five Hundred and Ninety or Less
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of class of loan receivable	7%	5%	4%
Consumer installment loans | Six Hundred and Fifty-One or Higher
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of class of loan receivable	77%	79%	80%
Consumer installment loans | Five Hundred and Ninety-One to Six Hundred and Fifty
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of class of loan receivable	17%	17%	16%
Consumer installment loans | Five Hundred and Ninety or Less
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of class of loan receivable	6%	4%	4%
Commercial credit products | Six Hundred and Fifty-One or Higher
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of class of loan receivable	90%	92%	93%
Commercial credit products | Five Hundred and Ninety-One to Six Hundred and Fifty
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of class of loan receivable	6%	5%	4%
Commercial credit products | Five Hundred and Ninety or Less
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of class of loan receivable	4%	3%	3%

Loan Receivables and Allowan_11

Loan Receivables and Allowance for Credit Losses - Interest Income by Product (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest and fees on loans		$ 4,258	$ 3,887	$ 12,305	$ 11,186
Credit cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest and fees on loans	[1]	4,153	3,793	12,009	10,934
Financing Receivable, Accrued Interest, Writeoff		265	199	770	800
Consumer installment loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest and fees on loans		74	64	209	176
Commercial credit products
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest and fees on loans		30	29	83	73
Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest and fees on loans		$ 1	$ 1	$ 4	$ 3
[1]Interest income on credit cards that was reversed related to accrued interest receivables written off was $265 million and $199 million for the three months ended September 30, 2022 and 2021, respectively, and $770 million and $800 million for the nine months ended September 30, 2022 and 2021, respectively.

Loan Receivables and Allowan_12

Loan Receivables and Allowance for Credit Losses - Narrative (Details) - USD ($) $ in Millions	6 Months Ended	9 Months Ended
	Jun. 30, 2022	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Allowance for Credit Loss, Reasonable and Supportable Forecast Period		12 months
Financing Receivable, Allowance for Credit Loss, Reversion Period		6 months
Gain (Loss) on Sales of Loans, Net	$ 120
CarryingValueOfPortfoliosHeldForSaleSubsequentlySold	3,800
Proceeds from sale of loan receivables	$ 3,900	$ 3,930	$ 23
Credit cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unused Commitments to Extend Credit		$ 413,000		$ 431,000

Variable Interest Entities - Su

Variable Interest Entities - Summary of Assets and Liabilities (Details) - USD ($) $ in Millions		Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021	Sep. 30, 2021	Jun. 30, 2021	Dec. 31, 2020
Variable Interest Entity [Line Items]
Loan receivables, net		$ 76,910		$ 72,052
Loan receivables held for sale (Note 4)		0		4,361
Other assets		4,674		3,442
Total assets		100,766		95,748
Total liabilities		87,754		82,093
Financing Receivable, Allowance for Credit Loss		9,102	$ 8,808	8,688	$ 8,616	$ 9,023	$ 10,265
Total loan receivables		$ 86,012		$ 80,740
Restricted Cash Equivalents, Statement of Financial Position [Extensible Enumeration]		Other assets		Other assets
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Loan receivables, net	[1]	$ 16,629		$ 18,594
Loan receivables held for sale (Note 4)		0		1,398
Other assets	[2]	1,031		292
Total assets		17,660		20,284
Borrowings	[3]	6,360		7,288
Other liabilities		18		14
Total liabilities		6,378		7,302
Financing Receivable, Allowance for Credit Loss		1,700		1,900
Total loan receivables		18,361		20,529
Restricted Cash Equivalents		$ 1,000		$ 288
[1]Includes $1.7 billion and $1.9 billion of related allowance for credit losses resulting in gross restricted loans of $18.4 billion and $20.5 billion at September 30, 2022 and December 31, 2021, respectively.[2]Includes $1.0 billion and $288 million of segregated funds held by the VIEs at September 30, 2022 and December 31, 2021, respectively, which are classified as restricted cash and equivalents and included as a component of other assets

Variable Interest Entities - Na

Variable Interest Entities - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021	Dec. 31, 2021
Variable Interest Entity [Line Items]
Interest and fees on loans	$ 4,258	$ 3,887	$ 12,305	$ 11,186
Provision for credit losses	929	25	2,174	165
Amortization Method Qualified Affordable Housing Project Investments	519		519		$ 441
Other investments in non-consolidated VIEs	218		218		$ 184
Investments Funding Commitment
Variable Interest Entity [Line Items]
Other Commitment	200		200
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Interest and fees on loans	896	1,000	2,700	3,100
Provision for credit losses	23	(133)	151	(213)
Interest on borrowings of consolidated securitization entities	$ 54	$ 41	$ 127	$ 136

Intangible Assets - Schedule of

Intangible Assets - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Millions	Sep. 30, 2022	Dec. 31, 2021
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 3,113	$ 3,204
Accumulated amortization	(2,080)	(2,036)
Net	1,033	1,168
Customer-related
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	1,622	1,797
Accumulated amortization	(1,088)	(1,222)
Net	534	575
Capitalized software and other
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	1,491	1,407
Accumulated amortization	(992)	(814)
Net	$ 499	$ 593

Intangible Assets Narrative (De

Intangible Assets Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired			$ 158
Customer-Related Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired			$ 55	$ 64
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life			6 years	5 years
Selling and Marketing Expense [Member] | Retail Partner Contracts
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 26	$ 31	$ 86	$ 95
Other Expense | Finite-Lived Intangible Assets, Excluding Retail Partner Contracts
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 64	$ 49	$ 189	$ 150

Deposits - Schedule of Deposit

Deposits - Schedule of Deposit Liabilities (Details) - USD ($) $ in Millions		Sep. 30, 2022	Dec. 31, 2021
Deposits [Abstract]
Interest-bearing deposits, amount		$ 68,032	$ 61,911
Non-interest-bearing deposits, amount		372	359
Total deposits		$ 68,404	$ 62,270
Average Rate Domestic Deposits	[1]	1.20%	0.90%
[1]Based on interest expense for the nine months ended September 30, 2022 and the year ended December 31, 2021 and average deposits balances.

Deposits - Maturity Schedule (D

Deposits - Maturity Schedule (Details) $ in Millions	Sep. 30, 2022 USD ($)
Maturities of Time Deposits [Abstract]
2022	$ 3,690
2023	17,931
2024	6,000
2025	1,876
2026	635
Thereafter	$ 1,579

Deposits - Narrative (Details)

Deposits - Narrative (Details) - USD ($) $ in Billions	Sep. 30, 2022	Dec. 31, 2021
Schedule of Deposits [Line Items]
Time Deposits, at or Above FDIC Insurance Limit	$ 6.1	$ 5
Demand deposits with no defined maturity	31.1
Deposits, Savings Deposits	28.6
Program Arranger
Schedule of Deposits [Line Items]
Broker network deposit sweeps	$ 5.2

Borrowings - Borrowings Schedul

Borrowings - Borrowings Schedule (Details) - USD ($) $ in Millions		Sep. 30, 2022	Dec. 31, 2021
Amount
Total borrowings	[1]	$ 14,321	$ 14,507
Senior unsecured notes
Amount
Unsecured debt	[1]	$ 7,961	7,219
Average rate
Weighted average interest rate		4.45%
Fixed Senior Unsecured Notes | Senior unsecured notes
Amount
Unsecured debt	[1]	$ 6,471	6,470
Average rate
Weighted average interest rate		4.22%
Subsidiaries [Member] | Fixed Senior Unsecured Notes | Senior unsecured notes
Amount
Unsecured debt	[1]	$ 1,490	749
Average rate
Weighted average interest rate		5.49%
Variable Interest Entity, Primary Beneficiary
Average rate
Weighted average interest rate		3.45%
Borrowings of consolidated securitization entities	[1]	$ 6,360	7,288
Variable Interest Entity, Primary Beneficiary | Fixed Securitized Borrowings
Average rate
Weighted average interest rate		3.31%
Borrowings of consolidated securitization entities	[1]	$ 3,260	3,188
Variable Interest Entity, Primary Beneficiary | Floating Securitized Borrowings
Average rate
Weighted average interest rate		3.60%
Borrowings of consolidated securitization entities	[1]	$ 3,100	$ 4,100
Minimum | Fixed Senior Unsecured Notes | Senior unsecured notes
Average rate
Debt Instrument, Interest Rate, Stated Percentage		2.87%
Minimum | Subsidiaries [Member] | Fixed Senior Unsecured Notes | Senior unsecured notes
Average rate
Debt Instrument, Interest Rate, Stated Percentage		5.40%
Minimum | Variable Interest Entity, Primary Beneficiary | Fixed Securitized Borrowings
Average rate
Debt Instrument, Interest Rate, Stated Percentage		2.62%
Minimum | Variable Interest Entity, Primary Beneficiary | Floating Securitized Borrowings
Average rate
Debt Instrument, Interest Rate, Stated Percentage		3.48%
Maximum | Fixed Senior Unsecured Notes | Senior unsecured notes
Average rate
Debt Instrument, Interest Rate, Stated Percentage		5.15%
Maximum | Subsidiaries [Member] | Fixed Senior Unsecured Notes | Senior unsecured notes
Average rate
Debt Instrument, Interest Rate, Stated Percentage		5.63%
Maximum | Variable Interest Entity, Primary Beneficiary | Fixed Securitized Borrowings
Average rate
Debt Instrument, Interest Rate, Stated Percentage		3.87%
Maximum | Variable Interest Entity, Primary Beneficiary | Floating Securitized Borrowings
Average rate
Debt Instrument, Interest Rate, Stated Percentage		3.79%
[1]The amounts presented above for outstanding borrowings include unamortized debt premiums, discounts and issuance costs.

Borrowings - Borrowings Maturit

Borrowings - Borrowings Maturity Schedule (Details) $ in Millions	Sep. 30, 2022 USD ($)
Maturities of Long-Term Debt [Abstract]
2022	$ 883
2023	2,007
2024	3,150
2025	4,825
2026	500
Thereafter	$ 3,000

Borrowings - Narrative (Details

Borrowings - Narrative (Details) $ in Millions	Sep. 30, 2022 USD ($)
Variable Interest Entity, Primary Beneficiary
Debt Instrument [Line Items]
Remaining undrawn capacity	$ 3,200
Senior Notes | Fixed Rate Senior Notes Due 2031
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 750
Debt Instrument, Interest Rate, Stated Percentage	4.875%
Senior Notes | Fixed Rate Senior Notes Due 2031 | Subsidiaries [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 900
Debt Instrument, Interest Rate, Stated Percentage	5.40%
Senior Notes | Fixed Rate Senior Notes Due 2027 | Subsidiaries [Member]
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 600
Debt Instrument, Interest Rate, Stated Percentage	5.625%
Revolving Credit Facility | Unsecured Debt
Debt Instrument [Line Items]
Undrawn capacity	$ 500
Maximum | Senior Notes | Fixed Senior Unsecured Notes
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	5.15%
Maximum | Senior Notes | Fixed Senior Unsecured Notes | Subsidiaries [Member]
Debt Instrument [Line Items]
Debt Instrument, Interest Rate, Stated Percentage	5.63%

Fair Value Measurement - Recurr

Fair Value Measurement - Recurring Fair Value Measurements (Details) - USD ($) $ in Millions		Sep. 30, 2022		Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (Note 3)		$ 5,082		$ 5,283
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	[1]	5,111		5,332
Business Combination, Contingent Consideration, Liability		8	[1]	14
Financial and Nonfinancial Liabilities, Fair Value Disclosure	[1]	8		14
Assets measured at fair value, Other		29	[1]	49
Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total		14		15
Business Combination, Contingent Consideration, Liability		0		0
Financial and Nonfinancial Liabilities, Fair Value Disclosure		0		0
Assets measured at fair value, Other		14		15
Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total		5,065		5,256
Business Combination, Contingent Consideration, Liability		0		0
Financial and Nonfinancial Liabilities, Fair Value Disclosure		0		0
Assets measured at fair value, Other		0		0
Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total		32		61
Business Combination, Contingent Consideration, Liability		8		14
Financial and Nonfinancial Liabilities, Fair Value Disclosure		8		14
Assets measured at fair value, Other		15		34
U.S. government and federal agency
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (Note 3)		3,702		2,220
U.S. government and federal agency | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (Note 3)	[1]	3,702		2,220
U.S. government and federal agency | Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (Note 3)		0		0
U.S. government and federal agency | Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (Note 3)		3,702		2,220
U.S. government and federal agency | Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (Note 3)		0		0
State and municipal
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (Note 3)		10		13
State and municipal | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (Note 3)	[1]	10		13
State and municipal | Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (Note 3)		0		0
State and municipal | Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (Note 3)		0		0
State and municipal | Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (Note 3)		10		13
Residential mortgage-backed
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (Note 3)	[2]	436		606
Residential mortgage-backed | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (Note 3)	[1]	436		606
Residential mortgage-backed | Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (Note 3)		0		0
Residential mortgage-backed | Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (Note 3)		436		606
Residential mortgage-backed | Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (Note 3)		0		0
Asset-backed
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (Note 3)	[3]	927		2,430
Asset-backed | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (Note 3)	[1]	927		2,430
Asset-backed | Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (Note 3)		0		0
Asset-backed | Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (Note 3)		927		2,430
Asset-backed | Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (Note 3)		0		0
Other Debt Obligations
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (Note 3)		7		14
Other Debt Obligations | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (Note 3)		7		14
Other Debt Obligations | Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (Note 3)		0		0
Other Debt Obligations | Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (Note 3)		0		0
Other Debt Obligations | Fair Value, Measurements, Recurring | Level 3
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (Note 3)		$ 7		$ 14
[1]For the nine months ended September 30, 2022 and 2021, there were no fair value measurements transferred between levels.[2]All of our residential mortgage-backed securities have been issued by government-sponsored entities and are collateralized by U.S. mortgages. At September 30, 2022 and December 31, 2021, $102 million and $145 million of residential mortgage-backed securities, respectively, are pledged by the Bank as collateral to the Federal Reserve to secure Federal Reserve Discount Window advances.[3]Our asset-backed securities are collateralized by credit card and auto loans.

Fair Value Measurement - Fair V

Fair Value Measurement - Fair Value Asset and Liabilities Carried at Other than Fair Value (Details) - USD ($) $ in Millions		Sep. 30, 2022	Dec. 31, 2021
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and equivalents	[1]	$ 11,962	$ 8,337
Other assets	[1],[2]	1,099	349
Loan receivables, net	[3]	87,914	84,483
Loans Held-for-sale, Fair Value Disclosure	[3]		4,499
Deposits		67,419	62,486
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and equivalents	[1]	11,962	8,337
Other assets	[1],[2]	1,099	349
Loan receivables, net	[3]	76,895	72,034
Loans Held-for-sale, Fair Value Disclosure	[3]		4,361
Deposits		68,404	62,270
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and equivalents	[1]	11,962	8,337
Other assets	[1],[2]	1,099	349
Loan receivables, net	[3]	0	0
Loans Held-for-sale, Fair Value Disclosure	[3]		0
Deposits		0	0
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and equivalents	[1]	0	0
Other assets	[1],[2]	0	0
Loan receivables, net	[3]	0	0
Loans Held-for-sale, Fair Value Disclosure	[3]		0
Deposits		67,419	62,486
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and equivalents	[1]	0	0
Other assets	[1],[2]	0	0
Loan receivables, net	[3]	87,914	84,483
Loans Held-for-sale, Fair Value Disclosure	[3]		4,499
Deposits		0	0
Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure		7,396	7,662
Senior Notes | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure		7,961	7,219
Senior Notes | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure		0	0
Senior Notes | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure		7,396	7,662
Senior Notes | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure		0	0
Variable Interest Entity, Primary Beneficiary
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Borrowings of consolidated securitization entities		6,245	7,359
Variable Interest Entity, Primary Beneficiary | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Borrowings of consolidated securitization entities		6,360	7,288
Variable Interest Entity, Primary Beneficiary | Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Borrowings of consolidated securitization entities		0	0
Variable Interest Entity, Primary Beneficiary | Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Borrowings of consolidated securitization entities		3,187	3,238
Variable Interest Entity, Primary Beneficiary | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Borrowings of consolidated securitization entities		$ 3,058	$ 4,121
[1]For cash and equivalents and restricted cash and equivalents, carrying value approximates fair value due to the liquid nature and short maturity of these instruments.[2]This balance relates to restricted cash and equivalents, which is included in other assets.[3]Excludes financial assets for which we have elected the fair value option. Under certain retail partner program agreements, the expected sales proceeds in the event of a sale of their credit card portfolio may be limited to the amounts owed by our customers, which may be less than the fair value indicated above.

Equity Securities without Readi

Equity Securities without Readily Determinable Fair Value (Details) - USD ($) $ in Millions	3 Months Ended				9 Months Ended
	Sep. 30, 2022		Sep. 30, 2021		Sep. 30, 2022		Sep. 30, 2021		Dec. 31, 2021
Fair Value Disclosures [Abstract]
Carry Value	$ 246	[1]	$ 135	[1]	$ 246	[1]	$ 135	[1]	$ 232
Equity Securities without Readily Determinable Fair Value, Upward Price Adjustment, Annual Amount	0	[2]	9	[2]	7		57
Equity Securities without Readily Determinable Fair Value, Downward Price Adjustment, Annual Amount	(1)	[2]	$ 0	[2]	(3)		$ (1)
Equity Securities without Readily Determinable Fair Value, Upward Price Adjustment, Cumulative Amount	188				188
Equity Securities without Readily Determinable Fair Value, Downward Price Adjustment, Cumulative Amount	$ (11)				$ (11)
[1]The carrying value as of December 31, 2021 was $232 million.[2]Between January 1, 2018 and September 30, 2022, cumulative upward and downward carrying value adjustments were $188 million and $(11) million, respectively.

Regulatory and Capital Adequa_3

Regulatory and Capital Adequacy (Capital Amounts and Ratios) (Details) - Basel III $ in Millions		Sep. 30, 2022 USD ($)	Dec. 31, 2021 USD ($)
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Capital conservation buffer		0.025	0.025
Total risk-based capital
Actual		$ 14,154	$ 15,122
Actual (percent)	[1]	0.165	0.178
Minimum for capital adequacy purposes		$ 6,853	$ 6,796
Minimum for capital adequacy purposes (percent)	[2]	0.080	0.080
Tier 1 risk-based capital
Banking Regulation, Tier One Risk-Based Capital, Actual		$ 13,012	$ 14,003
Actual (percent)	[1]	0.152	0.165
Minimum for capital adequacy purposes		$ 5,140	$ 5,097
Minimum for capital adequacy purposes (percent)	[2]	0.060	0.060
Tier 1 leverage
Banking Regulation, Tier One Leverage Capital, Actual		$ 13,012	$ 14,003
Actual (percent)	[1]	0.132	0.147
Minimum for capital adequacy purposes		$ 3,945	$ 3,800
Minimum for capital adequacy purposes (percent)	[2]	0.040	0.040
Common equity Tier I capital
Common equity, actual		$ 12,278	$ 13,269
Common equity, actual (percent)	[1]	0.143	0.156
Common equity, minimum for capital adequacy purposes		$ 3,855	$ 3,822
Common Equity Tier One Capital Required for Capital Adequacy to Risk Weighted Assets	[2]	0.045	0.045
Synchrony Bank
Total risk-based capital
Actual		$ 13,414	$ 14,091
Actual (percent)	[1]	0.169	0.183
Minimum for capital adequacy purposes		$ 6,350	$ 6,175
Minimum for capital adequacy purposes (percent)	[2]	0.080	0.080
Minimum to be well-capitalized under prompt corrective action provisions		$ 7,937	$ 7,718
Minimum to be well-capitalized under prompt corrective action provisions (percent)		0.100	0.100
Tier 1 risk-based capital
Banking Regulation, Tier One Risk-Based Capital, Actual		$ 12,356	$ 13,075
Actual (percent)	[1]	0.156	0.169
Minimum for capital adequacy purposes		$ 4,762	$ 4,631
Minimum for capital adequacy purposes (percent)	[2]	0.060	0.060
Minimum to be well-capitalized under prompt corrective action provisions		$ 6,350	$ 6,175
Minimum to be well-capitalized under prompt corrective action provisions (percent)		0.080	0.080
Tier 1 leverage
Banking Regulation, Tier One Leverage Capital, Actual		$ 12,356	$ 13,075
Actual (percent)	[1]	0.136	0.151
Minimum for capital adequacy purposes		$ 3,638	$ 3,455
Minimum for capital adequacy purposes (percent)	[2]	0.040	0.040
Minimum to be well-capitalized under prompt corrective action provisions		$ 4,548	$ 4,318
Minimum to be well-capitalized under prompt corrective action provisions (percent)		0.050	0.050
Common equity Tier I capital
Common equity, actual		$ 12,356	$ 13,075
Common equity, actual (percent)	[1]	0.156	0.169
Common equity, minimum for capital adequacy purposes		$ 3,572	$ 3,473
Common Equity Tier One Capital Required for Capital Adequacy to Risk Weighted Assets	[2]	0.045	0.045
Common equity, minimum to be well-capitalized under prompt corrective action provisions		$ 5,159	$ 5,017
Common Equity Tier One Capital Required to be Well Capitalized Risk Weighted Assets		0.065	0.065
[1]Capital ratios are calculated based on the Basel III Standardized Approach rules. Capital amounts and ratios at September 30, 2022 and at December 31, 2021 in the above tables reflect the applicable CECL regulatory capital transition adjustment.[2]At September 30, 2022 and at December 31, 2021, Synchrony Financial and the Bank also must maintain a capital conservation buffer of common equity Tier 1 capital in excess of minimum risk-based capital ratios by at least 2.5 percentage points to avoid limits on capital distributions and certain discretionary bonus payments to executive officers and similar employees.

Earnings Per Share - Basic and

Earnings Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	3 Months Ended						9 Months Ended
	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2021	Jun. 30, 2021	Mar. 31, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Net earnings	$ 703	$ 804	$ 932	$ 1,141	$ 1,242	$ 1,025	$ 2,439	$ 3,408
Preferred stock dividends	(11)			(11)			(32)	(32)
Net earnings available to common stockholders	$ 692			$ 1,130			$ 2,407	$ 3,376
Weighted average common shares outstanding, basic (in shares)	468.5			560.6			492.1	573.6
Effect of dilutive securities (in shares)	2.2			5			2.9	4.6
Weighted average common shares outstanding, dilutive (in shares)	470.7			565.6			495	578.2
Earnings per basic common share (in usd per share)	$ 1.48			$ 2.02			$ 4.89	$ 5.89
Earnings per diluted common share (in usd per share)	$ 1.47			$ 2			$ 4.86	$ 5.84

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2022	Sep. 30, 2021	Sep. 30, 2022	Sep. 30, 2021
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share, amount	5	1	3	1

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Millions		Sep. 30, 2022	Dec. 31, 2021
Significant Change in Unrecognized Tax Benefits is Reasonably Possible [Line Items]
Unrecognized tax benefits, excluding related interest expense and penalties	[1]	$ 283	$ 274
Portion that, if recognized, would reduce tax expense and effective tax rate	[2]	189	$ 160
Decrease in Unrecognized Tax Benefits is Reasonably Possible		73
Decrease in Unrecognized Tax Benefits That Would Impact Effective Tax Rate		$ 23
[1]Interest and penalties related to unrecognized tax benefits were not material for all periods presented.[2]Comprised of federal unrecognized tax benefits and state and local unrecognized tax benefits net of the effects of associated U.S. federal income taxes. Excludes amounts attributable to any related valuation allowances resulting from associated increases in deferred tax assets.