Synchrony Financial (SYF) 10-Q 24 Oct 23 2023 Q3 Quarterly report Financial data

Cover Document

Cover Document - shares	9 Months Ended
	Sep. 30, 2023	Oct. 19, 2023
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
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		413,804,360
Entity Central Index Key	0001601712
Amendment Flag	false
Document Fiscal Year Focus	2023
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, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Interest income:
Interest and fees on loans (Note 4)	[1]	$ 5,151	$ 4,258	$ 14,579	$ 12,305
Interest on cash and debt securities		203	84	582	133
Total interest income		5,354	4,342	15,161	12,438
Interest expense:
Interest on deposits		800	280	2,074	567
Interest on senior and subordinated unsecured notes		106	80	313	225
Total interest expense		992	414	2,628	919
Net interest income		4,362	3,928	12,533	11,519
Retailer share arrangements		(979)	(1,057)	(2,783)	(3,288)
Provision for credit losses (Note 4)		1,488	929	4,161	2,174
Net interest income, after retailer share arrangements and provision for credit losses		1,895	1,942	5,589	6,057
Other income:
Interchange revenue		267	238	761	731
Debt cancellation fees		131	103	371	285
Loyalty programs		(358)	(326)	(1,001)	(906)
Other		52	29	87	240
Total other income		92	44	218	350
Other expense:
Employee costs		444	416	1,346	1,222
Professional fees		219	204	614	599
Marketing and business development		125	115	389	366
Information processing		177	150	522	458
Other		189	179	571	541
Total other expense		1,154	1,064	3,442	3,186
Earnings before provision for income taxes		833	922	2,365	3,221
Provision for income taxes (Note 12)		205	219	567	782
Net earnings		628	703	1,798	2,439
Net earnings available to common stockholders		$ 618	$ 692	$ 1,767	$ 2,407
Earnings per share
Basic (in usd per share)		$ 1.49	$ 1.48	$ 4.16	$ 4.89
Diluted (in usd per share)		$ 1.48	$ 1.47	$ 4.14	$ 4.86
Variable Interest Entity, Primary Beneficiary
Interest income:
Interest and fees on loans (Note 4)		$ 1,000	$ 896	$ 2,900	$ 2,700
Interest expense:
Interest on borrowings of consolidated securitization entities		86	54	241	127
Provision for credit losses (Note 4)		$ 189	$ 23	$ 553	$ 151
[1]Deferred merchant discounts to be recognized in interest income at September 30, 2023 and December 31, 2022, were $1.9 billion and $1.7 billion, respectively, which are included in Accrued expenses and other liabilities in our Condensed Consolidated Statement of Financial Position.

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Comprehensive Income (Unaudited) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Statement of Comprehensive Income [Abstract]
Net earnings	$ 628	$ 703	$ 1,798	$ 2,439
Other comprehensive income (loss)
Debt securities	3	(33)	31	(110)
Currency translation adjustments	(2)	(5)	(1)	(9)
Employee benefit plans	(1)	0	(1)	1
Other comprehensive income (loss)	0	(38)	29	(118)
Comprehensive income	$ 628	$ 665	$ 1,827	$ 2,321

Condensed Consolidated Statem_3

Condensed Consolidated Statements of Financial Position - USD ($) $ in Millions		Sep. 30, 2023	Dec. 31, 2022
Assets
Cash and equivalents		$ 15,643	$ 10,294
Debt securities (Note 3)		2,882	4,879
Total loan receivables	[1],[2]	97,873	92,470
Less: Allowance for credit losses		(10,176)	(9,527)
Loan receivables, net		87,697	82,943
Goodwill		1,105	1,105
Intangible assets, net (Note 6)		1,169	1,287
Other assets		4,443	4,056
Total assets		112,939	104,564
Deposits: (Note 7)
Interest-bearing deposit accounts		77,669	71,336
Non-interest-bearing deposit accounts		397	399
Total deposits		78,066	71,735
Borrowings: (Notes 5 and 8)
Senior and subordinated unsecured notes		8,712	7,964
Total borrowings	[3]	15,231	14,191
Accrued expenses and other liabilities		5,875	5,765
Total liabilities		99,172	91,691
Equity:
Preferred stock, par share value $0.001 per share; 750,000 shares authorized; 750,000 shares issued and outstanding at both September 30, 2023 and December 31, 2022 and aggregate liquidation preference of $750 at both September 30, 2023 and December 31, 2022		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, 2023 and December 31, 2022; 413,785,325 and 438,216,755 shares outstanding at September 30, 2023 and December 31, 2022, respectively		1	1
Additional paid-in capital		9,750	9,718
Retained earnings		18,338	16,716
Accumulated other comprehensive income (loss):
Debt securities		(62)	(93)
Currency translation adjustments		(39)	(38)
Employee benefit plans		5	6
Treasury stock, at cost; 420,199,359 and 395,767,929 shares at September 30, 2023 and December 31, 2022, respectively		(14,960)	(14,171)
Total equity		13,767	12,873
Total liabilities and equity		112,939	104,564
Unsecuritized loans held for investment
Assets
Total loan receivables		78,470	72,638
Restricted loans of consolidated securitization entities
Assets
Total loan receivables		19,403	19,832
Less: Allowance for credit losses		(1,800)	(1,800)
Loan receivables, net	[4]	17,610	18,015
Other assets	[5]	63	61
Total assets		17,673	18,076
Borrowings: (Notes 5 and 8)
Borrowings of consolidated securitization entities	[3]	6,519	6,227
Total liabilities		$ 6,545	$ 6,250
[1] Total loan receivables include $19.4 billion and $19.8 billion of restricted loans of consolidated securitization entities at September 30, 2023 and December 31, 2022, respectively. See Note 5. Variable Interest Entities for further information on these restricted loans. (b) The Company may redeem certain borrowings prior to their original contractual maturity dates in accordance with the optional redemption provision specified in the respective instruments. other assets

Consolidated Statements of Fina

Consolidated Statements of Financial Position Statement (Parenthetical) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
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	413,785,325	438,216,755
Treasury Stock, Common, Shares	420,199,359	395,767,929

Condensed Consolidated Statem_4

Condensed Consolidated Statements of Changes in Equity (Unaudited) - USD ($) $ in Millions	Total	Cumulative Effect, Period of Adoption, Adjustment	Cumulative Effect, Period of Adoption, Adjusted Balance	Preferred Stock	Preferred Stock Cumulative Effect, Period of Adoption, Adjusted Balance	Common Stock	Common Stock Cumulative Effect, Period of Adoption, Adjusted Balance	Additional Paid-in Capital	Additional Paid-in Capital Cumulative Effect, Period of Adoption, Adjusted Balance	Retained Earnings	Retained Earnings Cumulative Effect, Period of Adoption, Adjustment	Retained Earnings Cumulative Effect, Period of Adoption, Adjusted Balance	Accumulated Other Comprehensive Income (Loss)	Accumulated Other Comprehensive Income (Loss) Cumulative Effect, Period of Adoption, Adjusted Balance	Treasury Stock	Treasury Stock Cumulative Effect, Period of Adoption, Adjusted Balance
Preferred stock, beginning balance (in shares) at Dec. 31, 2021				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						833,985,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	932									932
Other comprehensive income	(52)												(52)
Purchases of treasury stock	(968)														(968)
Treasury Stock Reissued at Lower than Repurchase Price										(50)
Stock-based compensation (in shares)						0
Stock-based compensation	$ (25)							(26)							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
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						833,985,000
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
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						833,985,000
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)
Treasury Stock Reissued at Lower than Repurchase Price										(9)
Stock-based compensation (in shares)						0
Stock-based compensation	$ 19							20							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)
Stock-based compensation, treasury stock issued															13
Treasury Stock Reissued at Lower than Repurchase Price										(10)
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
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						833,985,000
Preferred stock, beginning balance (in shares) at Dec. 31, 2022	750,000			750,000
Preferred stock, beginning balance (in shares) (Accounting Standards Update 2016-13) at Dec. 31, 2022					750,000
Beginning balance at Dec. 31, 2022	$ 12,873			$ 734		$ 1		9,718		16,716			(125)		(14,171)
Beginning balance (Accounting Standards Update 2016-13) at Dec. 31, 2022		$ 222	$ 13,095		$ 734		$ 1		$ 9,718					$ (125)		$ (14,171)
Beginning balance (Accounting Standards Update 2022-02) at Dec. 31, 2022											$ 222	$ 16,938
Beginning balance (in shares) at Dec. 31, 2022	833,984,684					833,985,000
Beginning balance (in shares) (Accounting Standards Update 2016-13) at Dec. 31, 2022							833,985,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	$ 601									601
Other comprehensive income	23												23
Purchases of treasury stock	(404)														(404)
Treasury Stock Reissued at Lower than Repurchase Price										(59)
Stock-based compensation (in shares)						0
Stock-based compensation	$ (11)							(13)							61
Preferred Stock, Dividends Per Share, Declared	$ 14.06
Common Stock, Dividends, Per Share, Declared	$ 0.23
Dividends - preferred stock	$ (11)									(11)
Dividends - common stock	(100)									(100)
Preferred stock, ending balance (in shares) at Mar. 31, 2023				750,000
Ending balance at Mar. 31, 2023	$ 13,193			$ 734		$ 1		9,705		17,369			(102)		(14,514)
Ending balance (in shares) at Mar. 31, 2023						833,985,000
Preferred stock, beginning balance (in shares) at Dec. 31, 2022	750,000			750,000
Preferred stock, beginning balance (in shares) (Accounting Standards Update 2016-13) at Dec. 31, 2022					750,000
Beginning balance at Dec. 31, 2022	$ 12,873			$ 734		$ 1		9,718		16,716			(125)		(14,171)
Beginning balance (Accounting Standards Update 2016-13) at Dec. 31, 2022		$ 222	$ 13,095		$ 734		$ 1		$ 9,718					$ (125)		$ (14,171)
Beginning balance (Accounting Standards Update 2022-02) at Dec. 31, 2022											$ 222	$ 16,938
Beginning balance (in shares) at Dec. 31, 2022	833,984,684					833,985,000
Beginning balance (in shares) (Accounting Standards Update 2016-13) at Dec. 31, 2022							833,985,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	$ 1,798
Other comprehensive income	$ 29
Preferred stock, ending balance (in shares) at Sep. 30, 2023	750,000			750,000
Ending balance at Sep. 30, 2023	$ 13,767			$ 734		$ 1		9,750		18,338			(96)		(14,960)
Ending balance (in shares) at Sep. 30, 2023	833,984,684					833,985,000
Preferred stock, beginning balance (in shares) at Mar. 31, 2023				750,000
Beginning balance at Mar. 31, 2023	$ 13,193			$ 734		$ 1		9,705		17,369			(102)		(14,514)
Beginning balance (in shares) at Mar. 31, 2023						833,985,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	569									569
Other comprehensive income	6												6
Purchases of treasury stock	(303)														(303)
Treasury Stock Reissued at Lower than Repurchase Price										(1)
Stock-based compensation (in shares)						0
Stock-based compensation	$ 24							22							3
Preferred Stock, Dividends Per Share, Declared	$ 14.06
Common Stock, Dividends, Per Share, Declared	$ 0.23
Dividends - preferred stock	$ (10)									(10)
Dividends - common stock	(99)									(99)
Preferred stock, ending balance (in shares) at Jun. 30, 2023				750,000
Ending balance at Jun. 30, 2023	13,380			$ 734		$ 1		9,727		17,828			(96)		(14,814)
Ending balance (in shares) at Jun. 30, 2023						833,985,000
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net earnings	628									628
Other comprehensive income	0												0
Purchases of treasury stock	(152)														(152)
Stock-based compensation, treasury stock issued															6
Treasury Stock Reissued at Lower than Repurchase Price										(4)
Stock-based compensation (in shares)						0
Stock-based compensation	$ 25							23
Preferred Stock, Dividends Per Share, Declared	$ 14.06
Common Stock, Dividends, Per Share, Declared	$ 0.25
Dividends - preferred stock	$ (10)									(10)
Dividends - common stock	$ (104)									(104)
Preferred stock, ending balance (in shares) at Sep. 30, 2023	750,000			750,000
Ending balance at Sep. 30, 2023	$ 13,767			$ 734		$ 1		$ 9,750		$ 18,338			$ (96)		$ (14,960)
Ending balance (in shares) at Sep. 30, 2023	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, 2023	Sep. 30, 2022
Cash flows - operating activities
Net earnings	$ 1,798	$ 2,439
Adjustments to reconcile net earnings to cash provided from operating activities
Provision for credit losses	4,161	2,174
Deferred income taxes	(271)	(185)
Depreciation and amortization	340	318
(Increase) decrease in interest and fees receivable	(323)	74
(Increase) decrease in other assets	37	(26)
Increase (decrease) in accrued expenses and other liabilities	(7)	(322)
All other operating activities	541	375
Cash provided from (used for) operating activities	6,276	4,847
Cash flows - investing activities
Maturity and sales of debt securities	3,882	3,659
Purchases of debt securities	(1,642)	(3,624)
Proceeds from sale of loan receivables	0	3,930
Net (increase) decrease in loan receivables, including held for sale	(8,797)	(6,999)
All other investing activities	(508)	(342)
Cash provided from (used for) investing activities	(7,065)	(3,376)
Borrowings of consolidated securitization entities
Proceeds from issuance of securitized debt	1,547	1,670
Maturities and repayment of securitized debt	(1,257)	(2,600)
Senior and subordinated unsecured notes
Proceeds from issuance of senior unsecured notes	740	2,235
Maturities and repayment of senior unsecured notes	0	(1,500)
Dividends paid on preferred stock	(31)	(32)
Net increase (decrease) in deposits	6,354	6,125
Purchases of treasury stock	(859)	(2,619)
Dividends paid on common stock	(303)	(331)
All other financing activities	(32)	(44)
Cash provided from (used for) financing activities	6,159	2,904
Increase (decrease) in cash and equivalents, including restricted amounts	5,370	4,375
Cash and equivalents, including restricted amounts, at beginning of period	10,430	8,686
Cash and equivalents	15,643	11,962
Restricted cash and equivalents included in other assets	157	1,099
Total cash and equivalents, including restricted amounts, at end of period	$ 15,800	$ 13,061

Business Description

Business Description	9 Months Ended
	Sep. 30, 2023
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, 2023
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. We consolidate certain securitization entities under the VIE model. 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 2022 annual consolidated financial statements and the related notes in our Annual Report on Form 10-K for the year ended December 31, 2022 (our "2022 Form 10-K"). New Accounting Standards Newly 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. The Company adopted this guidance as of January 1, 2023, on a modified retrospective basis, which resulted in the recognition of the effects of adoption through a cumulative-effect adjustment to retained earnings. As a result of adoption, we incurred a reduction of $294 million to the Company's allowance for credit losses, and a corresponding increase, net of tax effect, to retained earnings of $222 million. Subsequent updates to our estimate of expected credit losses have been recorded through the provision for credit losses in our Condensed Consolidated Statement of Earnings. Allowance for Credit Losses Following the adoption of ASU 2022-02 on January 1, 2023 discussed above, we have made the following changes prospectively to our significant accounting policies. We no longer separately measure our allowance for credit losses on TDRs, and we incorporate the impact of loan modifications made to borrowers experiencing financial difficulties into our overall assessment of portfolio loss content and estimate of expected credit losses. See Note 2. Basis of Presentation and Summary of Significant Accounting Policies to our 2022 annual consolidated financial statements in our 2022 Form 10-K, for additional information on the methodology used to estimate expected credit losses. Loan Modifications and Restructurings Our loss mitigation strategy is intended to minimize economic loss and, at times, can result in rate reductions, principal forgiveness, extensions or other actions, for borrowers experiencing financial difficulty. We primarily use long-term modification programs for borrowers experiencing financial difficulty as a loss mitigation strategy to improve long-term collectability of the loans. The long-term modification programs include changing the structure of the loan to a fixed payment loan with a maturity no longer than 60 months, reducing the interest rate on the loan, and stopping the assessment of penalty fees. We also make long-term loan modifications for customers who request financial assistance through external sources, such as through consumer credit counseling service agencies. Long-term loan modification programs do not normally include the forgiveness of unpaid principal, interest or fees. We may also provide certain borrowers with a short-term loan modification program (generally up to 3 months) that can include the forgiveness of unpaid principal balance, interest and/or fees. The evaluation of whether a borrower is experiencing financial difficulty includes our consideration of all relevant facts and circumstances. See Note 4. Loan Receivables and Allowance for Credit Losses for additional information on our loan modifications and restructurings. Once the loan has been modified, it only returns to current status (re-aged) after three consecutive monthly program payments are received post the modification date, subject to re-aging limitations in the Federal Financial Institutions Examination Council guidelines on Uniform Retail Credit Classification and Account Management policy issued in June 2000. See Note 2. Basis of Presentation and Summary of Significant Accounting Policies to our 2022 annual consolidated financial statements in our 2022 Form 10-K, for additional information on our applicable significant accounting policies in effect prior to the adoption of ASU 2022-02.

Debt Securities

Debt Securities	9 Months Ended
	Sep. 30, 2023
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, 2023 December 31, 2022 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 $ 1,445 $ — $ (9) $ 1,436 $ 3,917 $ — $ (53) $ 3,864 State and municipal 10 — (1) 9 10 — — 10 Residential mortgage-backed (a) 411 — (57) 354 467 — (49) 418 Asset-backed (b) 1,090 — (15) 1,075 599 — (19) 580 Other 8 — 8 8 — (1) 7 Total $ 2,964 $ — $ (82) $ 2,882 $ 5,001 $ — $ (122) $ 4,879 _______________________ (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, 2023 and December 31, 2022, $86 million and $100 million of residential mortgage-backed securities, respectively, were pledged by the Bank as collateral to the Federal Reserve to secure Federal Reserve Discount Window advances. (b) Our asset-backed securities are collateralized by credit card and auto loans. The following table presents the estimated fair values and gross unrealized losses of our available-for-sale debt securities: In loss position for Less than 12 months 12 months or more Gross Gross Estimated unrealized Estimated unrealized ($ in millions) fair value losses fair value losses At September 30, 2023 U.S. government and federal agency $ 544 $ — $ 892 $ (9) State and municipal — — 9 (1) Residential mortgage-backed 8 — 347 (57) Asset-backed 783 (3) 245 (12) Other — — 8 — Total $ 1,335 $ (3) $ 1,501 $ (79) At December 31, 2022 U.S. government and federal agency $ 3,032 $ (30) $ 638 $ (23) State and municipal 5 — 5 — Residential mortgage-backed 316 (31) 101 (18) Asset-backed 230 — 348 (19) Other 7 (1) — — Total $ 3,590 $ (62) $ 1,092 $ (60) 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, 2023 ($ in millions) cost fair value Average yield (a) Due Within one year $ 1,736 $ 1,721 2.7 % After one year through five years $ 835 $ 824 4.7 % After five years through ten years $ 190 $ 170 1.8 % After ten years $ 203 $ 167 2.0 % _____________________ (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. All securities are presented above based upon contractual maturity date, except our asset-backed securities which are allocated based upon expected final payment date. 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, 2023 and 2022.

Loan Receivables and Allowance

Loan Receivables and Allowance for Credit Losses	9 Months Ended
	Sep. 30, 2023
Receivables [Abstract]
Loan Receivables and Allowance for Credit Losses	LOAN RECEIVABLES AND ALLOWANCE FOR CREDIT LOSSES ($ in millions) September 30, 2023 December 31, 2022 Credit cards $ 92,078 $ 87,630 Consumer installment loans 3,784 3,056 Commercial credit products 1,879 1,682 Other 132 102 Total loan receivables, before allowance for credit losses (a)(b) $ 97,873 $ 92,470 _______________________ (a) Total loan receivables include $19.4 billion and $19.8 billion of restricted loans of consolidated securitization entities at September 30, 2023 and December 31, 2022, respectively. See Note 5. Variable Interest Entities for further information on these restricted loans. (b) At September 30, 2023 and December 31, 2022, loan receivables included deferred costs, net of deferred income, of $201 million and $237 million, respectively. Allowance for Credit Losses (a)(b) ($ in millions) Balance at July 1, 2023 Provision charged to operations Gross charge-offs Recoveries Balance at Credit cards $ 9,464 $ 1,357 $ (1,265) $ 225 $ 9,781 Consumer installment loans 221 92 (59) 10 264 Commercial credit products 112 38 (28) 2 124 Other 7 1 (1) — 7 Total $ 9,804 $ 1,488 $ (1,353) $ 237 $ 10,176 ($ in millions) Balance at July 1, 2022 Provision charged to operations Gross charge-offs Recoveries 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 January 1, 2023 Impact of ASU 2022-02 Adoption Post-Adoption Balance at January 1, 2023 Provision charged to operations Gross charge-offs Recoveries Balance at September 30, 2023 Credit cards $ 9,225 $ (294) $ 8,931 $ 3,853 $ (3,697) $ 694 $ 9,781 Consumer installment loans 208 1 209 182 (148) 21 264 Commercial credit products 87 (1) 85 126 (93) 6 124 Other 7 — 8 — (1) — 7 Total $ 9,527 $ (294) $ 9,233 $ 4,161 $ (3,939) $ 721 $ 10,176 ($ in millions) Balance at January 1, 2022 Provision charged to operations Gross charge-offs Recoveries 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 _______________________ (a) The allowance for credit losses at September 30, 2023 and 2022 reflects our estimate of expected credit losses for the life of the loan receivables on our Condensed Consolidated Statements of Financial Position at September 30, 2023 and 2022 which include the consideration of current and expected macroeconomic conditions that existed at those dates. (b) Comparative information is presented in accordance with the applicable accounting standards in effect prior to the adoption of ASU 2022-02. The reasonable and supportable forecast period used in our estimate of credit losses at September 30, 2023 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, including those which are modified for borrowers experiencing financial difficulty, are estimated and recognized upon origination of the loan, based on expected credit losses for the life of the loan balance at September 30, 2023. Expected credit loss estimates are developed using both quantitative models and qualitative adjustments, and incorporates a macroeconomic forecast, as described within the 2022 Form 10-K. The current and forecasted economic conditions at the balance sheet date influenced our current estimate of expected credit losses, which reflects our expectations of the macroeconomic environment. We continue to experience a decrease in payment rates and an increase in delinquencies and net charge-offs during the nine months ended September 30, 2023. We expect net charge-offs to continue to increase. These conditions are reflected in our current estimate of expected credit losses, which remain generally consistent with the prior quarter. Our allowance for credit losses increased to $10.2 billion during the nine months ended September 30, 2023, primarily due to growth in loan receivables, partially offset by the reserve reduction associated with the adoption of ASU 2022-02. See Note 2. Basis of Presentation and Summary of Significant Accounting Policies for additional information on our significant accounting policies related to our allowance for credit losses. Delinquent and Non-accrual Loans The following table provides information on our delinquent and non-accrual loans: At September 30, 2023 ($ 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 $ 2,159 $ 1,957 $ 4,116 $ 1,957 $ — Consumer installment loans 80 21 101 — 21 Commercial credit products 45 42 87 42 — Total delinquent loans $ 2,284 $ 2,020 $ 4,304 $ 1,999 $ 21 Percentage of total loan receivables 2.3 % 2.1 % 4.4 % 2.0 % — % At December 31, 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 $ 1,710 $ 1,516 $ 3,226 $ 1,516 $ — Consumer installment loans 61 14 75 — 14 Commercial credit products 44 32 76 32 — Total delinquent loans $ 1,815 $ 1,562 $ 3,377 $ 1,548 $ 14 Percentage of total loan receivables 2.0 % 1.7 % 3.7 % 1.7 % — % Consumer Installment Loans by Origination Year By origination year At or for the nine months ended 2023 2022 2021 2020 2019 Prior Total Amortized cost basis $ 1,664 $ 1,034 $ 611 $ 357 $ 82 $ 36 $ 3,784 30-89 days delinquent 33 22 14 8 2 1 80 90 or more days delinquent 10 6 3 2 — — 21 Current period gross charge-offs 29 66 32 15 4 2 148 By origination year At December 31, 2022 ($ in millions) 2022 2021 2020 2019 2018 Prior Total Amortized cost basis $ 1,441 $ 868 $ 535 $ 135 $ 58 $ 19 $ 3,056 30-89 days delinquent 26 18 12 3 1 1 61 90 or more days delinquent 6 5 2 1 — — 14 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. Loan Modifications to Borrowers Experiencing Financial Difficulty We use certain loan modification programs for borrowers experiencing financial difficulties. We primarily use long-term modification programs for borrowers experiencing financial difficulty as a loss mitigation strategy to improve long-term collectability of the loans. The long-term programs involve changing the structure of the loan to a fixed payment loan with a maturity no longer than 60 months, reducing the interest rate on the loan, and stopping the assessment of penalty fees. We also make long-term loan modifications for customers who request financial assistance through external sources, such as through consumer credit counseling service agencies. Long-term loan modification programs do not normally include the forgiveness of unpaid principal, interest or fees. We may also provide certain borrowers with a short-term loan modification program (generally up to 3 months) that can include the forgiveness of unpaid principal balance, interest and/or fees. We generally do not convert revolving loans to term loans, outside of loan modification programs for borrowers experiencing financial difficulties. Three and nine months ended September 30, 2023 The Company adopted ASU 2022-02 as of January 1, 2023 on a modified retrospective basis through a cumulative adjustment to retained earnings. The new guidance is applicable for all loans modified to borrowers experiencing financial difficulties as of the beginning of 2023. The following table provides information on our loan modifications to borrowers experiencing financial difficulty during the period presented, which do not include loans that are classified as loan receivables held for sale: Three months ended September 30, 2023 Nine months ended September 30, 2023 ($ in millions) Amount % of Loan Receivables Amount % of Loan Receivables Long-term modifications Credit cards $ 412 0.4 % $ 1,134 1.2 % Consumer installment loans — — % — — % Commercial credit products 1 0.1 % 4 0.2 % Short-term modifications Credit cards 163 0.2 % 440 0.5 % Consumer installment loans — — % — — % Commercial credit products — — % — — % Total $ 576 0.6 % $ 1,578 1.6 % Financial Effects of Loan Modifications to Borrowers Experiencing Financial Difficulty As part of our loan modifications to borrowers experiencing financial difficulty, we may provide multiple concessions to minimize our economic loss and improve long-term loan performance and collectability. For long-term modifications made in the three and nine months ended September 30, 2023, the financial effect of these modifications reduced the weighted-average interest rates by 97% for both periods, respectively. For short-term modifications made in the three and nine months ended September 30, 2023, unpaid balances of $10 million and $123 million, respectively, were forgiven. Performance of Loans Modified to Borrowers Experiencing Financial Difficulty The following table provides information on the performance of loans modified to borrowers experiencing financial difficulty which have been modified subsequent to January 1, 2023 and remain in a modification program at September 30, 2023: Amortized cost basis At September 30, 2023 ($ in millions) Current 30-89 days delinquent 90 or more days delinquent Total past due (a) Long-term modifications Credit cards $ 655 $ 150 $ 118 $ 268 Consumer installment loans — — — — Commercial credit products 2 1 1 2 Short-term modifications Credit cards 40 28 39 67 Consumer installment loans — — — — Commercial credit products — — — — Total delinquent modified loans $ 697 $ 179 $ 158 $ 337 Percentage of total loan receivables 0.7 % 0.2 % 0.1 % 0.3 % ___________________ (a) Once a loan has been modified, it only returns to current status (re-aged) after three consecutive monthly program payments are received post the modification date. Payment Defaults The following table presents the type, number and amount of loans to borrowers experiencing financial difficulty that enrolled in a long-term modification program between January 1, 2023 and September 30, 2023 and experienced a payment default and charged-off during the period presented: Three months ended September 30, 2023 Nine months ended September 30, 2023 ($ in millions, accounts in thousands) Accounts defaulted Loans defaulted Accounts defaulted Loans defaulted Credit cards 31 $ 77 51 $ 122 Consumer installment loans — — — — Commercial credit products — 1 — 1 Total 31 $ 78 51 $ 123 Of the loans modified to borrowers experiencing financial difficulty that enrolled in a short-term modification program between January 1, 2023 and September 30, 2023, 50% have fully completed all required payments and successfully exited the program during the nine months ended September 30, 2023. Three and nine months ended September 30, 2022 Troubled Debt Restructurings Under our modified retrospective adoption of ASU 2022-02, the following information on loan modifications for periods prior to January 1, 2023 are presented in accordance with the applicable accounting standards in effect at that time. The following table provides information on our TDR loan modifications during the prior year period presented: Three months ended September 30, Nine months ended September 30, ($ in millions) 2022 2022 Credit cards $ 265 $ 681 Consumer installment loans — — Commercial credit products 1 2 Total $ 266 $ 683 Prior to January 1, 2023, our allowance for credit losses on TDRs was 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 was accounted for in the same manner as other accruing loans. The following table provides information about loans classified as TDRs and specific reserves at December 31, 2022. We do not evaluate credit card loans on an individual basis but instead estimate an allowance for credit losses on a collective basis. At December 31, 2022 ($ in millions) Total recorded Related allowance Net recorded investment Unpaid principal balance Credit cards $ 1,355 $ (600) $ 755 $ 1,206 Consumer installment loans — — — — Commercial credit products 4 (2) 2 4 Total $ 1,359 $ (602) $ 757 $ 1,210 Financial Effects of TDRs The following table presents the types and financial effects of loans modified and accounted for as TDRs during the prior year period presented: Three months ended September 30, Nine months ended September 30, 2022 2022 ($ 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 $ 26 $ 234 $ 1,201 Consumer installment loans — — — — — — Commercial credit products — 1 4 — 1 3 Total $ 9 $ 81 $ 1,222 $ 26 $ 235 $ 1,204 Payment Defaults The following table presents the type, number and amount of loans accounted for as TDRs that enrolled in a modification program within the previous 12 months from September 30, 2022 and experienced a payment default and charged-off during the prior year period presented: Three months ended September 30, Nine months ended September 30, 2022 2022 ($ in millions, accounts in thousands) Accounts defaulted Loans defaulted Accounts defaulted Loans defaulted Credit cards 25 $ 56 52 $ 116 Consumer installment loans — — — — Commercial credit products — — — 1 Total 25 $ 56 52 $ 117 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, 2023, December 31, 2022 and September 30, 2022, respectively, as a percentage of each class of loan receivable. The table below excludes 0.3%, 0.4% and 0.4% of our total loan receivables balance at each of September 30, 2023, December 31, 2022 and September 30, 2022, respectively, which represents those customer accounts for which a VantageScore score is not available. September 30, 2023 December 31, 2022 September 30, 2022 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 73 % 19 % 8 % 74 % 19 % 7 % 75 % 18 % 7 % Consumer installment loans 76 % 17 % 7 % 77 % 17 % 6 % 77 % 17 % 6 % Commercial credit products 86 % 7 % 7 % 88 % 6 % 6 % 90 % 6 % 4 % 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 $426 billion and $417 billion at September 30, 2023 and December 31, 2022, respectively. While these amounts represented the total available unused credit card lines, we have not experienced and do not anticipate that all of our customers will access their entire available line at any given point in time. Interest Income by Product The following table provides additional information about our interest and fees on loans, including merchant discounts, from our loan receivables, including held for sale: Three months ended September 30, Nine months ended September 30, ($ in millions) 2023 2022 2023 2022 Credit cards (a) $ 5,003 $ 4,153 $ 14,179 $ 12,009 Consumer installment loans 108 74 285 209 Commercial credit products 38 30 108 83 Other 2 1 7 4 Total (b) $ 5,151 $ 4,258 $ 14,579 $ 12,305 _______________________ (a) Interest income on credit cards that was reversed related to accrued interest receivables written off was $422 million and $265 million for the three months ended September 30, 2023 and 2022, respectively, and $1.3 billion and $770 million for the nine months ended September 30, 2023 and 2022, respectively. (b) Deferred merchant discounts to be recognized in interest income at September 30, 2023 and December 31, 2022, were $1.9 billion and $1.7 billion, respectively, which are included in Accrued expenses and other liabilities in our Condensed Consolidated Statement of Financial Position.

Variable Interest Entities

Variable Interest Entities	9 Months Ended
	Sep. 30, 2023
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, 2023 and 2022. 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, 2023 December 31, 2022 Assets Loan receivables, net (a) $ 17,610 $ 18,015 Other assets (b) 63 61 Total $ 17,673 $ 18,076 Liabilities Borrowings $ 6,519 $ 6,227 Other liabilities 26 23 Total $ 6,545 $ 6,250 _______________________ (a) Includes $1.8 billion and $1.8 billion of related allowance for credit losses resulting in gross restricted loans of $19.4 billion and $19.8 billion at September 30, 2023 and December 31, 2022, respectively. (b) Includes $60 million and $56 million of segregated funds held by the VIEs at September 30, 2023 and December 31, 2022, 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 $1.0 billion and $896 million for the three months ended September 30, 2023 and 2022, respectively. Related expenses consisted primarily of provision for credit losses of $189 million and $23 million for the three months ended September 30, 2023 and 2022, respectively, and interest expense of $86 million and $54 million for the three months ended September 30, 2023 and 2022, respectively. Income (principally, interest and fees on loans) earned by our consolidated VIEs was $2.9 billion and $2.7 billion for the nine months ended September 30, 2023 and 2022, respectively. Related expenses consisted primarily of provision for credit losses of $553 million and $151 million for the nine months ended September 30, 2023 and 2022, respectively, and interest expense of $241 million and $127 million for the nine months ended September 30, 2023 and 2022, 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 $721 million and $557 million at September 30, 2023 and December 31, 2022, respectively, and represents our total exposure for these entities. Additionally, we have other investments in non-consolidated VIEs which totaled $252 million and $230 million at September 30, 2023 and December 31, 2022, respectively. At September 30, 2023, the Company also had investment commitments of $186 million related to these investment s.

Intangible Assets

Intangible Assets	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Intangible Assets	INTANGIBLE ASSETS September 30, 2023 December 31, 2022 ($ in millions) Gross carrying amount Accumulated amortization Net Gross carrying amount Accumulated amortization Net Customer-related $ 1,751 $ (1,204) $ 547 $ 1,725 $ (1,113) $ 612 Capitalized software and other 1,876 (1,254) 622 1,721 (1,046) 675 Total $ 3,627 $ (2,458) $ 1,169 $ 3,446 $ (2,159) $ 1,287 During the nine months ended September 30, 2023, we recorded additions to intangible assets subject to amortization of $182 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, 2023 and 2022, we recorded additions to customer-related intangible assets subject to amortization of $26 million and $55 million, respectively, primarily related to payments made to acquire and extend certain retail partner relationships. These additions had a weighted average amortizable life of 7 years and 6 years for the nine months ended September 30, 2023 and 2022, respectively.

Deposits

Deposits	9 Months Ended
	Sep. 30, 2023
Deposits [Abstract]
Deposits	DEPOSITS September 30, 2023 December 31, 2022 ($ in millions) Amount Average rate (a) Amount Average rate (a) Interest-bearing deposits $ 77,669 3.7 % $ 71,336 1.5 % Non-interest-bearing deposits 397 — 399 — Total deposits $ 78,066 $ 71,735 ____________________ (a) Based on interest expense for the nine months ended September 30, 2023 and the year ended December 31, 2022 and average deposits balances. At September 30, 2023 and December 31, 2022, interest-bearing deposits included $8.9 billion and $7.2 billion, respectively, of certificates of deposit that exceeded applicable FDIC insurance limits, which are generally $250,000 per depositor for each account ownership category. At September 30, 2023, our interest-bearing time deposits maturing for the remainder of 2023 and over the next four years and thereafter were as follows: ($ in millions) 2023 2024 2025 2026 2027 Thereafter Deposits $ 6,087 $ 28,709 $ 4,683 $ 1,475 $ 2,546 $ 1,261 The above maturity table excludes $29.0 billion of demand deposits with no defined maturity, of which $27.2 billion are savings accounts. In addition, at September 30, 2023, we had $3.9 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 2025 and 2026.

Borrowings

Borrowings	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Borrowings	BORROWINGS September 30, 2023 December 31, 2022 ($ in millions) Maturity date Interest Rate Weighted average interest rate Outstanding Amount (a)(b) Outstanding Amount (a)(b) Borrowings of consolidated securitization entities: Fixed securitized borrowings 2025 - 2026 3.37% - 5.54% 4.30 % $ 2,669 $ 2,377 Floating securitized borrowings 2024 - 2026 6.07% - 6.45% 6.20 % 3,850 3,850 Total borrowings of consolidated securitization entities 5.42 % 6,519 6,227 Senior unsecured notes: Synchrony Financial senior unsecured notes: Fixed senior unsecured notes 2024 - 2031 2.87% - 5.15% 4.22 % 6,478 6,473 Synchrony Bank senior unsecured notes: Fixed senior unsecured notes 2025 - 2027 5.40% - 5.63% 5.49 % 1,493 1,491 Total senior unsecured notes 4.45 % 7,971 7,964 Subordinated unsecured notes: Synchrony Financial subordinated unsecured notes: Fixed subordinated unsecured notes 2033 7.25% 7.25 % 741 — Total senior and subordinated unsecured notes 4.69 % 8,712 7,964 Total borrowings $ 15,231 $ 14,191 ___________________ (a) Includes unamortized debt premiums, discounts and issuance costs. (b) The Company may redeem certain borrowings prior to their original contractual maturity dates in accordance with the optional redemption provision specified in the respective instruments. Debt Maturities The following table summarizes the maturities of the principal amount of our borrowings of consolidated securitization entities and senior and subordinated unsecured notes for the remainder of 2023 and over the next four years and thereafter: ($ in millions) 2023 2024 2025 2026 2027 Thereafter Borrowings $ — $ 4,225 $ 5,300 $ 2,000 $ 1,600 $ 2,150 Third-Party Debt 2023 Issuance ($ in millions ): Issuance Date Principal Amount Maturity Interest Rate Fixed rate subordinated unsecured notes: Synchrony Financial February 2023 $ 750 February 2033 7.250% 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, 2023
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 2022 annual consolidated financial statements in our 2022 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, 2023 ($ in millions) Level 1 Level 2 Level 3 Total (a) Assets Debt securities U.S. government and federal agency $ — $ 1,436 $ — $ 1,436 State and municipal — — 9 9 Residential mortgage-backed — 354 — 354 Asset-backed — 1,075 — 1,075 Other — — 8 8 Other (b) 13 — 9 22 Total $ 13 $ 2,865 $ 26 $ 2,904 Liabilities Other (c) — — 6 6 Total $ — $ — $ 6 $ 6 At December 31, 2022 ($ in millions) Assets Debt securities U.S. government and federal agency $ — $ 3,864 $ — $ 3,864 State and municipal — — 10 10 Residential mortgage-backed — 418 — 418 Asset-backed — 580 — 580 Other — — 7 7 Other (b) 14 — 13 27 Total $ 14 $ 4,862 $ 30 $ 4,906 Liabilities Other (c) — — $ 7 $ 7 Total $ — $ — $ 7 $ 7 _______________________ (a) For the nine months ended September 30, 2023 and 2022, 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 Condensed Consolidated 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 Condensed Consolidated 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 Condensed Consolidated 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 2022 annual consolidated financial statements in our 2022 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, 2023 and 2022, respectively, were not material. Financial Assets and Financial Liabilities Carried at Other Than Fair Value Carrying Corresponding fair value amount At September 30, 2023 ($ 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) $ 15,643 $ 15,643 $ 15,643 $ — $ — Other assets (a)(b) $ 157 $ 157 $ 157 $ — $ — Financial assets carried at other than fair value: Loan receivables, net (c) $ 87,688 $ 99,153 $ — $ — $ 99,153 Financial Liabilities Financial liabilities carried at other than fair value: Deposits $ 78,066 $ 77,710 $ — $ 77,710 $ — Borrowings of consolidated securitization entities $ 6,519 $ 6,454 $ — $ 2,605 $ 3,849 Senior and subordinated unsecured notes $ 8,712 $ 8,014 $ — $ 8,014 $ — Carrying Corresponding fair value amount At December 31, 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) $ 10,294 $ 10,294 $ 10,294 $ — $ — Other assets (a)(b) $ 136 $ 136 $ 136 $ — $ — Financial assets carried at other than fair value: Loan receivables, net (c) $ 82,930 $ 94,339 $ — $ — $ 94,339 Financial Liabilities Financial liabilities carried at other than fair value: Deposits $ 71,735 $ 70,685 $ — $ 70,685 $ — Borrowings of consolidated securitization entities $ 6,227 $ 6,127 $ — $ 2,327 $ 3,800 Senior and subordinated unsecured notes $ 7,964 $ 7,530 $ — $ 7,530 $ — _______________________ (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, 2023
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. Beginning in the first quarter of 2022, the effects are being phased-in over a three-year period through 2024 and will be 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”. Beginning in the first quarter of 2023 only 50% of the CECL regulatory capital transition adjustment is now deferred in our regulatory capital amounts and ratios, as compared to 75% at December 31, 2022. At September 30, 2023 and December 31, 2022, Synchrony Financial met all applicable requirements to be deemed well-capitalized pursuant to Federal Reserve Board regulations. At September 30, 2023 and December 31, 2022, 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, 2023 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, 2023 ($ in millions) Actual Minimum for capital Amount Ratio (a) Amount Ratio (b) Total risk-based capital $ 14,964 15.3 % $ 7,839 8.0 % Tier 1 risk-based capital $ 12,906 13.2 % $ 5,879 6.0 % Tier 1 leverage $ 12,906 11.8 % $ 4,380 4.0 % Common equity Tier 1 Capital $ 12,172 12.4 % $ 4,409 4.5 % At December 31, 2022 ($ in millions) Actual Minimum for capital Amount Ratio (a) Amount Ratio (b) Total risk-based capital $ 13,713 15.0 % $ 7,328 8.0 % Tier 1 risk-based capital $ 12,493 13.6 % $ 5,496 6.0 % Tier 1 leverage $ 12,493 12.3 % $ 4,075 4.0 % Common equity Tier 1 Capital $ 11,759 12.8 % $ 4,122 4.5 % Synchrony Bank At September 30, 2023 ($ 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 $ 14,401 15.6 % $ 7,396 8.0 % $ 9,244 10.0 % Tier 1 risk-based capital $ 12,408 13.4 % $ 5,547 6.0 % $ 7,396 8.0 % Tier 1 leverage $ 12,408 12.1 % $ 4,108 4.0 % $ 5,136 5.0 % Common equity Tier I capital $ 12,408 13.4 % $ 4,160 4.5 % $ 6,009 6.5 % At December 31, 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 $ 13,313 15.6 % $ 6,838 8.0 % $ 8,547 10.0 % Tier 1 risk-based capital $ 12,174 14.2 % $ 5,128 6.0 % $ 6,838 8.0 % Tier 1 leverage $ 12,174 12.8 % $ 3,790 4.0 % $ 4,738 5.0 % Common equity Tier I capital $ 12,174 14.2 % $ 3,846 4.5 % $ 5,556 6.5 % _______________________ (a) Capital ratios are calculated based on the Basel III Standardized Approach rules. Capital amounts and ratios at September 30, 2023 and at December 31, 2022 in the above tables reflect the applicable CECL regulatory capital transition adjustment. (b) At September 30, 2023 and at December 31, 2022, 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, 2023
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) 2023 2022 2023 2022 Net earnings $ 628 $ 703 $ 1,798 $ 2,439 Preferred stock dividends (10) (11) $ (31) $ (32) Net earnings available to common stockholders $ 618 $ 692 $ 1,767 $ 2,407 Weighted average common shares outstanding, basic 416.0 468.5 424.3 $ 492.1 Effect of dilutive securities 2.4 2.2 2.2 $ 2.9 Weighted average common shares outstanding, dilutive 418.4 470.7 $ 426.5 $ 495.0 Earnings per basic common share $ 1.49 $ 1.48 $ 4.16 $ 4.89 Earnings per diluted common share $ 1.48 $ 1.47 $ 4.14 $ 4.86

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES Unrecognized Tax Benefits ($ in millions) September 30, 2023 December 31, 2022 Unrecognized tax benefits, excluding related interest expense and penalties (a) $ 252 $ 267 Portion that, if recognized, would reduce tax expense and effective tax rate (b) $ 199 $ 177 ____________________ (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 $31 million, of which $24 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 2023 tax year, and thus the tax year is under IRS review. The IRS is also examining our 2022 tax year, and we expect the review will be 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, 2023
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 April 3, 2023, the parties executed a Stipulation and Agreement of Settlement, in which plaintiffs agreed to settle all remaining claims in the action in exchange for a payment of $34 million. The District Court preliminarily approved the settlement on April 12, 2023. On August 3, 2023, the District Court entered an order granting final approval to the settlement. 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, 2023
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. We consolidate certain securitization entities under the VIE model. 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 2022 annual consolidated financial statements and the related notes in our Annual Report on Form 10-K for the year ended December 31, 2022 (our "2022 Form 10-K").
New Accounting Standards	New Accounting Standards Newly 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. The Company adopted this guidance as of January 1, 2023, on a modified retrospective basis, which resulted in the recognition of the effects of adoption through a cumulative-effect adjustment to retained earnings. As a result of adoption, we incurred a reduction of $294 million to the Company's allowance for credit losses, and a corresponding increase, net of tax effect, to retained earnings of $222 million. Subsequent updates to our estimate of expected credit losses have been recorded through the provision for credit losses in our Condensed Consolidated Statement of Earnings. Allowance for Credit Losses Following the adoption of ASU 2022-02 on January 1, 2023 discussed above, we have made the following changes prospectively to our significant accounting policies. We no longer separately measure our allowance for credit losses on TDRs, and we incorporate the impact of loan modifications made to borrowers experiencing financial difficulties into our overall assessment of portfolio loss content and estimate of expected credit losses. See Note 2. Basis of Presentation and Summary of Significant Accounting Policies to our 2022 annual consolidated financial statements in our 2022 Form 10-K, for additional information on the methodology used to estimate expected credit losses. Loan Modifications and Restructurings Our loss mitigation strategy is intended to minimize economic loss and, at times, can result in rate reductions, principal forgiveness, extensions or other actions, for borrowers experiencing financial difficulty. We primarily use long-term modification programs for borrowers experiencing financial difficulty as a loss mitigation strategy to improve long-term collectability of the loans. The long-term modification programs include changing the structure of the loan to a fixed payment loan with a maturity no longer than 60 months, reducing the interest rate on the loan, and stopping the assessment of penalty fees. We also make long-term loan modifications for customers who request financial assistance through external sources, such as through consumer credit counseling service agencies. Long-term loan modification programs do not normally include the forgiveness of unpaid principal, interest or fees. We may also provide certain borrowers with a short-term loan modification program (generally up to 3 months) that can include the forgiveness of unpaid principal balance, interest and/or fees. The evaluation of whether a borrower is experiencing financial difficulty includes our consideration of all relevant facts and circumstances. See Note 4. Loan Receivables and Allowance for Credit Losses for additional information on our loan modifications and restructurings. Once the loan has been modified, it only returns to current status (re-aged) after three consecutive monthly program payments are received post the modification date, subject to re-aging limitations in the Federal Financial Institutions Examination Council guidelines on Uniform Retail Credit Classification and Account Management policy issued in June 2000. See Note 2. Basis of Presentation and Summary of Significant Accounting Policies to our 2022 annual consolidated financial statements in our 2022 Form 10-K, for additional information on our applicable significant accounting policies in effect prior to the adoption of ASU 2022-02.

Debt Securities (Tables)

Debt Securities (Tables)	9 Months Ended
	Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract]
Schedule of Available-for-sale Securities Reconciliation	Our debt securities consist of the following: September 30, 2023 December 31, 2022 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 $ 1,445 $ — $ (9) $ 1,436 $ 3,917 $ — $ (53) $ 3,864 State and municipal 10 — (1) 9 10 — — 10 Residential mortgage-backed (a) 411 — (57) 354 467 — (49) 418 Asset-backed (b) 1,090 — (15) 1,075 599 — (19) 580 Other 8 — 8 8 — (1) 7 Total $ 2,964 $ — $ (82) $ 2,882 $ 5,001 $ — $ (122) $ 4,879 _______________________ (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, 2023 and December 31, 2022, $86 million and $100 million of residential mortgage-backed securities, respectively, were pledged by the Bank as collateral to the Federal Reserve to secure Federal Reserve Discount Window advances. (b) Our asset-backed securities are collateralized by credit card and auto loans.
Debt Securities, Available-for-sale, Unrealized Loss Position, Fair Value	The following table presents the estimated fair values and gross unrealized losses of our available-for-sale debt securities: In loss position for Less than 12 months 12 months or more Gross Gross Estimated unrealized Estimated unrealized ($ in millions) fair value losses fair value losses At September 30, 2023 U.S. government and federal agency $ 544 $ — $ 892 $ (9) State and municipal — — 9 (1) Residential mortgage-backed 8 — 347 (57) Asset-backed 783 (3) 245 (12) Other — — 8 — Total $ 1,335 $ (3) $ 1,501 $ (79) At December 31, 2022 U.S. government and federal agency $ 3,032 $ (30) $ 638 $ (23) State and municipal 5 — 5 — Residential mortgage-backed 316 (31) 101 (18) Asset-backed 230 — 348 (19) Other 7 (1) — — Total $ 3,590 $ (62) $ 1,092 $ (60)
Investments Classified by Contractual Maturity Date	Contractual Maturities of Investments in Available-for-Sale Debt Securities Amortized Estimated Weighted At September 30, 2023 ($ in millions) cost fair value Average yield (a) Due Within one year $ 1,736 $ 1,721 2.7 % After one year through five years $ 835 $ 824 4.7 % After five years through ten years $ 190 $ 170 1.8 % After ten years $ 203 $ 167 2.0 % _____________________ (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, 2023
Receivables [Abstract]
Schedule of Accounts, Notes, Loans and Financing Receivable	($ in millions) September 30, 2023 December 31, 2022 Credit cards $ 92,078 $ 87,630 Consumer installment loans 3,784 3,056 Commercial credit products 1,879 1,682 Other 132 102 Total loan receivables, before allowance for credit losses (a)(b) $ 97,873 $ 92,470 _______________________ (a) Total loan receivables include $19.4 billion and $19.8 billion of restricted loans of consolidated securitization entities at September 30, 2023 and December 31, 2022, respectively. See Note 5. Variable Interest Entities for further information on these restricted loans. (b) At September 30, 2023 and December 31, 2022, loan receivables included deferred costs, net of deferred income, of $201 million and $237 million, respectively.
Allowance for Credit Losses on Financing Receivables	Allowance for Credit Losses (a)(b) ($ in millions) Balance at July 1, 2023 Provision charged to operations Gross charge-offs Recoveries Balance at Credit cards $ 9,464 $ 1,357 $ (1,265) $ 225 $ 9,781 Consumer installment loans 221 92 (59) 10 264 Commercial credit products 112 38 (28) 2 124 Other 7 1 (1) — 7 Total $ 9,804 $ 1,488 $ (1,353) $ 237 $ 10,176 ($ in millions) Balance at July 1, 2022 Provision charged to operations Gross charge-offs Recoveries 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 January 1, 2023 Impact of ASU 2022-02 Adoption Post-Adoption Balance at January 1, 2023 Provision charged to operations Gross charge-offs Recoveries Balance at September 30, 2023 Credit cards $ 9,225 $ (294) $ 8,931 $ 3,853 $ (3,697) $ 694 $ 9,781 Consumer installment loans 208 1 209 182 (148) 21 264 Commercial credit products 87 (1) 85 126 (93) 6 124 Other 7 — 8 — (1) — 7 Total $ 9,527 $ (294) $ 9,233 $ 4,161 $ (3,939) $ 721 $ 10,176 ($ in millions) Balance at January 1, 2022 Provision charged to operations Gross charge-offs Recoveries 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 _______________________ (a) The allowance for credit losses at September 30, 2023 and 2022 reflects our estimate of expected credit losses for the life of the loan receivables on our Condensed Consolidated Statements of Financial Position at September 30, 2023 and 2022 which include the consideration of current and expected macroeconomic conditions that existed at those dates. (b) Comparative information is presented in accordance with the applicable accounting standards in effect prior to the adoption of ASU 2022-02.
Past Due Financing Receivables	Delinquent and Non-accrual Loans The following table provides information on our delinquent and non-accrual loans: At September 30, 2023 ($ 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 $ 2,159 $ 1,957 $ 4,116 $ 1,957 $ — Consumer installment loans 80 21 101 — 21 Commercial credit products 45 42 87 42 — Total delinquent loans $ 2,284 $ 2,020 $ 4,304 $ 1,999 $ 21 Percentage of total loan receivables 2.3 % 2.1 % 4.4 % 2.0 % — % At December 31, 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 $ 1,710 $ 1,516 $ 3,226 $ 1,516 $ — Consumer installment loans 61 14 75 — 14 Commercial credit products 44 32 76 32 — Total delinquent loans $ 1,815 $ 1,562 $ 3,377 $ 1,548 $ 14 Percentage of total loan receivables 2.0 % 1.7 % 3.7 % 1.7 % — %
Troubled Debt Restructurings on Financing Receivables	The following table provides information on our loan modifications to borrowers experiencing financial difficulty during the period presented, which do not include loans that are classified as loan receivables held for sale: Three months ended September 30, 2023 Nine months ended September 30, 2023 ($ in millions) Amount % of Loan Receivables Amount % of Loan Receivables Long-term modifications Credit cards $ 412 0.4 % $ 1,134 1.2 % Consumer installment loans — — % — — % Commercial credit products 1 0.1 % 4 0.2 % Short-term modifications Credit cards 163 0.2 % 440 0.5 % Consumer installment loans — — % — — % Commercial credit products — — % — — % Total $ 576 0.6 % $ 1,578 1.6 % Performance of Loans Modified to Borrowers Experiencing Financial Difficulty The following table provides information on the performance of loans modified to borrowers experiencing financial difficulty which have been modified subsequent to January 1, 2023 and remain in a modification program at September 30, 2023: Amortized cost basis At September 30, 2023 ($ in millions) Current 30-89 days delinquent 90 or more days delinquent Total past due (a) Long-term modifications Credit cards $ 655 $ 150 $ 118 $ 268 Consumer installment loans — — — — Commercial credit products 2 1 1 2 Short-term modifications Credit cards 40 28 39 67 Consumer installment loans — — — — Commercial credit products — — — — Total delinquent modified loans $ 697 $ 179 $ 158 $ 337 Percentage of total loan receivables 0.7 % 0.2 % 0.1 % 0.3 % ___________________ (a) Once a loan has been modified, it only returns to current status (re-aged) after three consecutive monthly program payments are received post the modification date.
Troubled Debt Restructurings on Financing Receivables, Subsequent Default	The following table presents the type, number and amount of loans to borrowers experiencing financial difficulty that enrolled in a long-term modification program between January 1, 2023 and September 30, 2023 and experienced a payment default and charged-off during the period presented: Three months ended September 30, 2023 Nine months ended September 30, 2023 ($ in millions, accounts in thousands) Accounts defaulted Loans defaulted Accounts defaulted Loans defaulted Credit cards 31 $ 77 51 $ 122 Consumer installment loans — — — — Commercial credit products — 1 — 1 Total 31 $ 78 51 $ 123 Of the loans modified to borrowers experiencing financial difficulty that enrolled in a short-term modification program between January 1, 2023 and September 30, 2023, 50% have fully completed all required payments and successfully exited the program during the nine months ended September 30, 2023. Three and nine months ended September 30, 2022 Troubled Debt Restructurings Under our modified retrospective adoption of ASU 2022-02, the following information on loan modifications for periods prior to January 1, 2023 are presented in accordance with the applicable accounting standards in effect at that time. The following table provides information on our TDR loan modifications during the prior year period presented: Three months ended September 30, Nine months ended September 30, ($ in millions) 2022 2022 Credit cards $ 265 $ 681 Consumer installment loans — — Commercial credit products 1 2 Total $ 266 $ 683 Prior to January 1, 2023, our allowance for credit losses on TDRs was 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 was accounted for in the same manner as other accruing loans. The following table provides information about loans classified as TDRs and specific reserves at December 31, 2022. We do not evaluate credit card loans on an individual basis but instead estimate an allowance for credit losses on a collective basis. At December 31, 2022 ($ in millions) Total recorded Related allowance Net recorded investment Unpaid principal balance Credit cards $ 1,355 $ (600) $ 755 $ 1,206 Consumer installment loans — — — — Commercial credit products 4 (2) 2 4 Total $ 1,359 $ (602) $ 757 $ 1,210 Financial Effects of TDRs The following table presents the types and financial effects of loans modified and accounted for as TDRs during the prior year period presented: Three months ended September 30, Nine months ended September 30, 2022 2022 ($ 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 $ 26 $ 234 $ 1,201 Consumer installment loans — — — — — — Commercial credit products — 1 4 — 1 3 Total $ 9 $ 81 $ 1,222 $ 26 $ 235 $ 1,204 Payment Defaults The following table presents the type, number and amount of loans accounted for as TDRs that enrolled in a modification program within the previous 12 months from September 30, 2022 and experienced a payment default and charged-off during the prior year period presented: Three months ended September 30, Nine months ended September 30, 2022 2022 ($ in millions, accounts in thousands) Accounts defaulted Loans defaulted Accounts defaulted Loans defaulted Credit cards 25 $ 56 52 $ 116 Consumer installment loans — — — — Commercial credit products — — — 1 Total 25 $ 56 52 $ 117
Financing Receivable Credit Quality Indicators	The following table provides the most recent VantageScore scores available for our customers at September 30, 2023, December 31, 2022 and September 30, 2022, respectively, as a percentage of each class of loan receivable. The table below excludes 0.3%, 0.4% and 0.4% of our total loan receivables balance at each of September 30, 2023, December 31, 2022 and September 30, 2022, respectively, which represents those customer accounts for which a VantageScore score is not available. September 30, 2023 December 31, 2022 September 30, 2022 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 73 % 19 % 8 % 74 % 19 % 7 % 75 % 18 % 7 % Consumer installment loans 76 % 17 % 7 % 77 % 17 % 6 % 77 % 17 % 6 % Commercial credit products 86 % 7 % 7 % 88 % 6 % 6 % 90 % 6 % 4 %
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) 2023 2022 2023 2022 Credit cards (a) $ 5,003 $ 4,153 $ 14,179 $ 12,009 Consumer installment loans 108 74 285 209 Commercial credit products 38 30 108 83 Other 2 1 7 4 Total (b) $ 5,151 $ 4,258 $ 14,579 $ 12,305 _______________________ (a) Interest income on credit cards that was reversed related to accrued interest receivables written off was $422 million and $265 million for the three months ended September 30, 2023 and 2022, respectively, and $1.3 billion and $770 million for the nine months ended September 30, 2023 and 2022, respectively. (b) Deferred merchant discounts to be recognized in interest income at September 30, 2023 and December 31, 2022, were $1.9 billion and $1.7 billion, respectively, which are included in Accrued expenses and other liabilities in our Condensed Consolidated Statement of Financial Position.

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	9 Months Ended
	Sep. 30, 2023
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, 2023 December 31, 2022 Assets Loan receivables, net (a) $ 17,610 $ 18,015 Other assets (b) 63 61 Total $ 17,673 $ 18,076 Liabilities Borrowings $ 6,519 $ 6,227 Other liabilities 26 23 Total $ 6,545 $ 6,250 _______________________ (a) Includes $1.8 billion and $1.8 billion of related allowance for credit losses resulting in gross restricted loans of $19.4 billion and $19.8 billion at September 30, 2023 and December 31, 2022, respectively. (b) Includes $60 million and $56 million of segregated funds held by the VIEs at September 30, 2023 and December 31, 2022, 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, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Finite-Lived Intangible Assets	September 30, 2023 December 31, 2022 ($ in millions) Gross carrying amount Accumulated amortization Net Gross carrying amount Accumulated amortization Net Customer-related $ 1,751 $ (1,204) $ 547 $ 1,725 $ (1,113) $ 612 Capitalized software and other 1,876 (1,254) 622 1,721 (1,046) 675 Total $ 3,627 $ (2,458) $ 1,169 $ 3,446 $ (2,159) $ 1,287

Deposits (Tables)

Deposits (Tables)	9 Months Ended
	Sep. 30, 2023
Deposits [Abstract]
Schedule of Deposit Liabilities	September 30, 2023 December 31, 2022 ($ in millions) Amount Average rate (a) Amount Average rate (a) Interest-bearing deposits $ 77,669 3.7 % $ 71,336 1.5 % Non-interest-bearing deposits 397 — 399 — Total deposits $ 78,066 $ 71,735 ____________________ (a) Based on interest expense for the nine months ended September 30, 2023 and the year ended December 31, 2022 and average deposits balances.
Schedule of Maturities of Deposit Liabilities	At September 30, 2023, our interest-bearing time deposits maturing for the remainder of 2023 and over the next four years and thereafter were as follows: ($ in millions) 2023 2024 2025 2026 2027 Thereafter Deposits $ 6,087 $ 28,709 $ 4,683 $ 1,475 $ 2,546 $ 1,261

Borrowings (Tables)

Borrowings (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Schedule of Debt	September 30, 2023 December 31, 2022 ($ in millions) Maturity date Interest Rate Weighted average interest rate Outstanding Amount (a)(b) Outstanding Amount (a)(b) Borrowings of consolidated securitization entities: Fixed securitized borrowings 2025 - 2026 3.37% - 5.54% 4.30 % $ 2,669 $ 2,377 Floating securitized borrowings 2024 - 2026 6.07% - 6.45% 6.20 % 3,850 3,850 Total borrowings of consolidated securitization entities 5.42 % 6,519 6,227 Senior unsecured notes: Synchrony Financial senior unsecured notes: Fixed senior unsecured notes 2024 - 2031 2.87% - 5.15% 4.22 % 6,478 6,473 Synchrony Bank senior unsecured notes: Fixed senior unsecured notes 2025 - 2027 5.40% - 5.63% 5.49 % 1,493 1,491 Total senior unsecured notes 4.45 % 7,971 7,964 Subordinated unsecured notes: Synchrony Financial subordinated unsecured notes: Fixed subordinated unsecured notes 2033 7.25% 7.25 % 741 — Total senior and subordinated unsecured notes 4.69 % 8,712 7,964 Total borrowings $ 15,231 $ 14,191 ___________________ (a) Includes unamortized debt premiums, discounts and issuance costs. (b) The Company may redeem certain borrowings prior to their original contractual maturity dates in accordance with the optional redemption provision specified in the respective instruments.
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 and subordinated unsecured notes for the remainder of 2023 and over the next four years and thereafter: ($ in millions) 2023 2024 2025 2026 2027 Thereafter Borrowings $ — $ 4,225 $ 5,300 $ 2,000 $ 1,600 $ 2,150
Schedule of Debt Issuances	2023 Issuance ($ in millions ): Issuance Date Principal Amount Maturity Interest Rate Fixed rate subordinated unsecured notes: Synchrony Financial February 2023 $ 750 February 2033 7.250%

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2023
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, 2023 ($ in millions) Level 1 Level 2 Level 3 Total (a) Assets Debt securities U.S. government and federal agency $ — $ 1,436 $ — $ 1,436 State and municipal — — 9 9 Residential mortgage-backed — 354 — 354 Asset-backed — 1,075 — 1,075 Other — — 8 8 Other (b) 13 — 9 22 Total $ 13 $ 2,865 $ 26 $ 2,904 Liabilities Other (c) — — 6 6 Total $ — $ — $ 6 $ 6 At December 31, 2022 ($ in millions) Assets Debt securities U.S. government and federal agency $ — $ 3,864 $ — $ 3,864 State and municipal — — 10 10 Residential mortgage-backed — 418 — 418 Asset-backed — 580 — 580 Other — — 7 7 Other (b) 14 — 13 27 Total $ 14 $ 4,862 $ 30 $ 4,906 Liabilities Other (c) — — $ 7 $ 7 Total $ — $ — $ 7 $ 7 _______________________ (a) For the nine months ended September 30, 2023 and 2022, 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 Condensed Consolidated 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 Condensed Consolidated 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, 2023 ($ 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) $ 15,643 $ 15,643 $ 15,643 $ — $ — Other assets (a)(b) $ 157 $ 157 $ 157 $ — $ — Financial assets carried at other than fair value: Loan receivables, net (c) $ 87,688 $ 99,153 $ — $ — $ 99,153 Financial Liabilities Financial liabilities carried at other than fair value: Deposits $ 78,066 $ 77,710 $ — $ 77,710 $ — Borrowings of consolidated securitization entities $ 6,519 $ 6,454 $ — $ 2,605 $ 3,849 Senior and subordinated unsecured notes $ 8,712 $ 8,014 $ — $ 8,014 $ — Carrying Corresponding fair value amount At December 31, 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) $ 10,294 $ 10,294 $ 10,294 $ — $ — Other assets (a)(b) $ 136 $ 136 $ 136 $ — $ — Financial assets carried at other than fair value: Loan receivables, net (c) $ 82,930 $ 94,339 $ — $ — $ 94,339 Financial Liabilities Financial liabilities carried at other than fair value: Deposits $ 71,735 $ 70,685 $ — $ 70,685 $ — Borrowings of consolidated securitization entities $ 6,227 $ 6,127 $ — $ 2,327 $ 3,800 Senior and subordinated unsecured notes $ 7,964 $ 7,530 $ — $ 7,530 $ — _______________________ (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, At or for the periods ended September 30 ($ in millions) 2023 2022 2023 2022 Carrying value (a) $ 268 $ 246 $ 268 $ 246 Upward adjustments (b) 17 — 17 7 Downward adjustments (b) (5) (1) (6) (3) _______________________ (a) Carrying value reflects cumulative purchases and sales in addition to upward and downward carrying value changes, and at December 31, 2022 was $245 million.

Regulatory and Capital Adequa_2

Regulatory and Capital Adequacy (Tables)	9 Months Ended
	Sep. 30, 2023
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, 2023 ($ in millions) Actual Minimum for capital Amount Ratio (a) Amount Ratio (b) Total risk-based capital $ 14,964 15.3 % $ 7,839 8.0 % Tier 1 risk-based capital $ 12,906 13.2 % $ 5,879 6.0 % Tier 1 leverage $ 12,906 11.8 % $ 4,380 4.0 % Common equity Tier 1 Capital $ 12,172 12.4 % $ 4,409 4.5 % At December 31, 2022 ($ in millions) Actual Minimum for capital Amount Ratio (a) Amount Ratio (b) Total risk-based capital $ 13,713 15.0 % $ 7,328 8.0 % Tier 1 risk-based capital $ 12,493 13.6 % $ 5,496 6.0 % Tier 1 leverage $ 12,493 12.3 % $ 4,075 4.0 % Common equity Tier 1 Capital $ 11,759 12.8 % $ 4,122 4.5 % Synchrony Bank At September 30, 2023 ($ 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 $ 14,401 15.6 % $ 7,396 8.0 % $ 9,244 10.0 % Tier 1 risk-based capital $ 12,408 13.4 % $ 5,547 6.0 % $ 7,396 8.0 % Tier 1 leverage $ 12,408 12.1 % $ 4,108 4.0 % $ 5,136 5.0 % Common equity Tier I capital $ 12,408 13.4 % $ 4,160 4.5 % $ 6,009 6.5 % At December 31, 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 $ 13,313 15.6 % $ 6,838 8.0 % $ 8,547 10.0 % Tier 1 risk-based capital $ 12,174 14.2 % $ 5,128 6.0 % $ 6,838 8.0 % Tier 1 leverage $ 12,174 12.8 % $ 3,790 4.0 % $ 4,738 5.0 % Common equity Tier I capital $ 12,174 14.2 % $ 3,846 4.5 % $ 5,556 6.5 % _______________________ (a) Capital ratios are calculated based on the Basel III Standardized Approach rules. Capital amounts and ratios at September 30, 2023 and at December 31, 2022 in the above tables reflect the applicable CECL regulatory capital transition adjustment. (b) At September 30, 2023 and at December 31, 2022, 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, 2023
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) 2023 2022 2023 2022 Net earnings $ 628 $ 703 $ 1,798 $ 2,439 Preferred stock dividends (10) (11) $ (31) $ (32) Net earnings available to common stockholders $ 618 $ 692 $ 1,767 $ 2,407 Weighted average common shares outstanding, basic 416.0 468.5 424.3 $ 492.1 Effect of dilutive securities 2.4 2.2 2.2 $ 2.9 Weighted average common shares outstanding, dilutive 418.4 470.7 $ 426.5 $ 495.0 Earnings per basic common share $ 1.49 $ 1.48 $ 4.16 $ 4.89 Earnings per diluted common share $ 1.48 $ 1.47 $ 4.14 $ 4.86

Incomes Taxes (Tables)

Incomes Taxes (Tables)	9 Months Ended
	Sep. 30, 2023
Income Tax Disclosure [Abstract]
Unrecognized Tax Benefits	($ in millions) September 30, 2023 December 31, 2022 Unrecognized tax benefits, excluding related interest expense and penalties (a) $ 252 $ 267 Portion that, if recognized, would reduce tax expense and effective tax rate (b) $ 199 $ 177 ____________________ (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.

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies Basis of Presentation and Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Jan. 01, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Dec. 31, 2021
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' Equity Attributable to Parent	$ 13,767	$ 13,380	$ 13,193		$ 12,873	$ 13,012	$ 13,393	$ 13,418	$ 13,655
Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' Equity Attributable to Parent	$ 18,338	$ 17,828	$ 17,369		16,716	$ 16,252	$ 15,679	$ 15,003	$ 14,245
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2022-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Decrease in Allowance for Credit Losses, Amount				$ 294
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2022-02 | Retained Earnings
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Stockholders' Equity Attributable to Parent					$ 222

Debt Securities - Schedule of A

Debt Securities - Schedule of Available for Sale Securities (Details) - USD ($) $ in Millions		Sep. 30, 2023	Dec. 31, 2022
Debt
Amortized cost		$ 2,964	$ 5,001
Gross unrealized gains		0	0
Gross unrealized losses		(82)	(122)
Estimated fair value		2,882	4,879
U.S. government and federal agency
Debt
Amortized cost		1,445	3,917
Gross unrealized gains		0	0
Gross unrealized losses		(9)	(53)
Estimated fair value		1,436	3,864
State and municipal
Debt
Amortized cost		10	10
Gross unrealized gains		0	0
Gross unrealized losses		(1)	0
Estimated fair value		9	10
Residential mortgage-backed
Debt Securities, Available-for-sale [Line Items]
Residential Mortgage Backed Securities pledged as collateral to the Federal Reserve		86	100
Debt
Amortized cost	[1]	411	467
Gross unrealized gains	[1]	0	0
Gross unrealized losses	[1]	(57)	(49)
Estimated fair value	[1]	354	418
Asset-backed
Debt
Amortized cost	[2]	1,090	599
Gross unrealized gains	[2]	0	0
Gross unrealized losses	[2]	(15)	(19)
Estimated fair value	[2]	1,075	580
Other Debt Obligations
Debt
Amortized cost		8	8
Gross unrealized gains			0
Gross unrealized losses		0	(1)
Estimated fair value		$ 8	$ 7
[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, 2023 and December 31, 2022, $86 million and $100 million of residential mortgage-backed securities, respectively, were 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, 2023	Dec. 31, 2022
Estimated fair value
Less than 12 months	$ 1,335	$ 3,590
12 months or more	1,501	1,092
Gross unrealized losses
Less than 12 months	(3)	(62)
12 months or more	(79)	(60)
U.S. government and federal agency
Estimated fair value
Less than 12 months	544	3,032
12 months or more	892	638
Gross unrealized losses
Less than 12 months	0	(30)
12 months or more	(9)	(23)
State and municipal
Estimated fair value
Less than 12 months	0	5
12 months or more	9	5
Gross unrealized losses
Less than 12 months	0	0
12 months or more	(1)	0
Residential mortgage-backed
Estimated fair value
Less than 12 months	8	316
12 months or more	347	101
Gross unrealized losses
Less than 12 months	0	(31)
12 months or more	(57)	(18)
Asset-backed
Estimated fair value
Less than 12 months	783	230
12 months or more	245	348
Gross unrealized losses
Less than 12 months	(3)	0
12 months or more	(12)	(19)
Other Debt Obligations
Estimated fair value
Less than 12 months	0	7
12 months or more	8	0
Gross unrealized losses
Less than 12 months	0	(1)
12 months or more	$ 0	$ 0

Debt Securities - Contractual M

Debt Securities - Contractual Maturities (Details) $ in Millions	Sep. 30, 2023 USD ($)
Amortized Cost
Within one year	$ 1,736
After one year through five years	835
After five years through ten years	190
After ten years	203
Estimated Fair Value
Within one year	1,721
After one year through five years	824
After five years through ten years	170
After ten years	$ 167
Weighted Average Yield
Within one year	2.70%	[1]
After one year through five years	4.70%	[1]
After five years through ten years	1.80%	[1]
After ten years	2%	[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, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loan receivables	[1],[2]	$ 97,873	$ 92,470
Financing Receivable, Deferred Commitment Fee		201	237
Credit cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loan receivables		92,078	87,630
Consumer installment loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loan receivables		3,784	3,056
Commercial credit products
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loan receivables		1,879	1,682
Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loan receivables		132	102
Variable Interest Entity, Primary Beneficiary
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loan receivables		$ 19,403	$ 19,832
[1] Total loan receivables include $19.4 billion and $19.8 billion of restricted loans of consolidated securitization entities at September 30, 2023 and December 31, 2022, 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, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance		$ 8,808	$ 9,527	$ 8,688
Provision for credit losses	$ 1,488	929	4,161	2,174
Gross charge-offs	1,353	830	3,939	2,385
Recoveries	237	195	721	625
Ending Balance	10,176	9,102	10,176	9,102
Cumulative Effect, Period of Adoption, Adjustment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance			(294)
Cumulative Effect, Period of Adoption, Adjusted Balance
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	9,804		9,233
Credit cards
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance		8,605	9,225	8,512
Provision for credit losses	1,357	864	3,853	2,028
Gross charge-offs	1,265	785	3,697	2,273
Recoveries	225	189	694	606
Ending Balance	9,781	8,873	9,781	8,873
Credit cards | Cumulative Effect, Period of Adoption, Adjustment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance			(294)
Credit cards | Cumulative Effect, Period of Adoption, Adjusted Balance
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	9,464		8,931
Consumer installment loans
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance		129	208	115
Provision for credit losses	92	38	182	80
Gross charge-offs	59	25	148	63
Recoveries	10	4	21	14
Ending Balance	264	146	264	146
Consumer installment loans | Cumulative Effect, Period of Adoption, Adjustment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance			1
Consumer installment loans | Cumulative Effect, Period of Adoption, Adjusted Balance
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	221		209
Commercial credit products
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance		71	87	59
Provision for credit losses	38	26	126	64
Gross charge-offs	28	19	93	48
Recoveries	2	2	6	5
Ending Balance	124	80	124	80
Commercial credit products | Cumulative Effect, Period of Adoption, Adjustment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance			(1)
Commercial credit products | Cumulative Effect, Period of Adoption, Adjusted Balance
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	112		85
Other
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance		3	7	2
Provision for credit losses	1	1	0	2
Gross charge-offs	1	1	1	1
Recoveries	0	0	0	0
Ending Balance	7	$ 3	7	$ 3
Other | Cumulative Effect, Period of Adoption, Adjustment
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance			0
Other | Cumulative Effect, Period of Adoption, Adjusted Balance
Financing Receivable, Allowance for Credit Loss [Roll Forward]
Beginning Balance	$ 7		$ 8

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, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loan receivables	[1],[2]	$ 97,873	$ 92,470
90 or more days delinquent and accruing		1,999	1,548
Total non-accruing		$ 21	$ 14
Financing Receivable, Nonaccrual, Percent Past Due		0%	0%
Loans and Leases Receivable, Maximum Maturity Period for Loans in Permanent Modification Program		60 months
Credit cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loan receivables		$ 92,078	$ 87,630
90 or more days delinquent and accruing		1,957	1,516
Total non-accruing		0	0
Consumer installment loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loan receivables		3,784	3,056
Financing Receivable Originated More Than Five Years Before Current Fiscal Year Writeoff		2
Financing Receivable Year Five Originated Four Years Before Current Fiscal Year Writeoff		4
Financing Receivable Year Four Originated Three Years Before Current Fiscal Year Writeoff		15
Financing Receivable Year Three Originated Two Years Before Current FiscalYear Writeoff		32
90 or more days delinquent and accruing		0	0
Total non-accruing		21	14
Financing Receivable Year One Originated Current Fiscal Year Writeoff		29
Financing Receivable Year Two Originated Fiscal Year Before Current Fiscal Year Writeoff		66
Gross charge-offs		148
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year		1,034	868
Financing Receivable, Year One, Originated, Current Fiscal Year		1,664	1,441
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year		611	535
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year		357	135
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year		82	58
Financing Receivable, Originated, More than Five Years before Current Fiscal Year		36	19
Commercial credit products
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loan receivables		1,879	1,682
90 or more days delinquent and accruing		42	32
Total non-accruing		0	0
Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loan receivables		132	102
Financial Asset, Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loan receivables		$ 4,304	$ 3,377
Financing Receivable, Percent Past Due		4.40%	3.70%
Financial Asset, Past Due | Credit cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loan receivables		$ 4,116	$ 3,226
Financial Asset, Past Due | Consumer installment loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loan receivables		101	75
Financial Asset, Past Due | Commercial credit products
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loan receivables		87	76
Financing Receivables, 30 to 89 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loan receivables		$ 2,284	$ 1,815
Financing Receivable, Percent Past Due		2.30%	2%
Financing Receivables, 30 to 89 Days Past Due | Credit cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loan receivables		$ 2,159	$ 1,710
Financing Receivables, 30 to 89 Days Past Due | Consumer installment loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loan receivables		80	61
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year		22	18
Financing Receivable, Year One, Originated, Current Fiscal Year		33	26
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year		14	12
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year		8	3
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year		2	1
Financing Receivable, Originated, More than Five Years before Current Fiscal Year		1	1
Financing Receivables, 30 to 89 Days Past Due | Commercial credit products
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loan receivables		45	44
Financial Asset, Equal to or Greater than 90 Days Past Due
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loan receivables		$ 2,020	$ 1,562
Financing Receivable, Percent Past Due		2.10%	1.70%
Financial Asset, Equal to or Greater than 90 Days Past Due | Credit cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loan receivables		$ 1,957	$ 1,516
Financial Asset, Equal to or Greater than 90 Days Past Due | Consumer installment loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loan receivables		21	14
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year		6	5
Financing Receivable, Year One, Originated, Current Fiscal Year		10	6
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year		3	2
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year		2	1
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year		0	0
Financing Receivable, Originated, More than Five Years before Current Fiscal Year		0	0
Financial Asset, Equal to or Greater than 90 Days Past Due | Commercial credit products
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total loan receivables		$ 42	$ 32
Financial Asset, Equal to or Greater than 90 Days Past Due And Accruing
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Percent Past Due		2%	1.70%
[1] Total loan receivables include $19.4 billion and $19.8 billion of restricted loans of consolidated securitization entities at September 30, 2023 and December 31, 2022, 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, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total loans entered into a modification program	$ 576	$ 266	$ 1,578	$ 683
% of Loan Receivables	0.60%		1.60%
FinancingReceivableModifiedWeightedAverageInterestRateDecreaseFromModification	97%		97%
Credit cards
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total loans entered into a modification program		265	$ 1,134	681
Credit cards | Short-term Payment Deferral
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total loans entered into a modification program	$ 163		$ 440
% of Loan Receivables	0.20%		0.50%
Credit cards | Long-term Payment Deferral
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total loans entered into a modification program	$ 412
% of Loan Receivables	0.40%		1.20%
Consumer installment loans
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total loans entered into a modification program		0	$ 0	0
Consumer installment loans | Short-term Payment Deferral
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total loans entered into a modification program	$ 0		0
Consumer installment loans | Long-term Payment Deferral
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total loans entered into a modification program	0
Commercial credit products
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total loans entered into a modification program		$ 1		$ 2
Commercial credit products | Short-term Payment Deferral
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total loans entered into a modification program	0
Commercial credit products | Long-term Payment Deferral
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total loans entered into a modification program	$ 1		$ 4
% of Loan Receivables	0.10%		0.20%

Loan Receivables and Allowanc_7

Loan Receivables and Allowance for Credit Losses - Performance of Loans Modified to Borrowers Experiencing Financial Difficulty (Details) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2023 USD ($)
Financing Receivable, Troubled Debt Restructuring [Line Items]
% of Loan Receivables	0.60%	1.60%
Financial Asset, Not Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total delinquent modified loans	$ 697	$ 697
% of Loan Receivables		0.70%
Financial Asset, Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total delinquent modified loans	337	$ 337
% of Loan Receivables		0.30%
Financing Receivables, 30 to 89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total delinquent modified loans	179	$ 179
% of Loan Receivables		0.20%
Financial Asset, Equal to or Greater than 90 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total delinquent modified loans	$ 158	$ 158
% of Loan Receivables		0.10%
Credit cards | Long-term Payment Deferral
Financing Receivable, Troubled Debt Restructuring [Line Items]
% of Loan Receivables	0.40%	1.20%
Credit cards | Long-term Payment Deferral | Financial Asset, Not Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total delinquent modified loans	$ 655	$ 655
Credit cards | Long-term Payment Deferral | Financial Asset, Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total delinquent modified loans	268	268
Credit cards | Long-term Payment Deferral | Financing Receivables, 30 to 89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total delinquent modified loans	150	150
Credit cards | Long-term Payment Deferral | Financial Asset, Equal to or Greater than 90 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total delinquent modified loans	$ 118	$ 118
Credit cards | Short-term Payment Deferral
Financing Receivable, Troubled Debt Restructuring [Line Items]
% of Loan Receivables	0.20%	0.50%
Credit cards | Short-term Payment Deferral | Financial Asset, Not Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total delinquent modified loans	$ 40	$ 40
Credit cards | Short-term Payment Deferral | Financial Asset, Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total delinquent modified loans	67	67
Credit cards | Short-term Payment Deferral | Financing Receivables, 30 to 89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total delinquent modified loans	28	28
Credit cards | Short-term Payment Deferral | Financial Asset, Equal to or Greater than 90 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total delinquent modified loans	39	39
Consumer installment loans | Long-term Payment Deferral | Financial Asset, Not Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total delinquent modified loans	0	0
Consumer installment loans | Long-term Payment Deferral | Financial Asset, Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total delinquent modified loans	0	0
Consumer installment loans | Long-term Payment Deferral | Financing Receivables, 30 to 89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total delinquent modified loans	0	0
Consumer installment loans | Long-term Payment Deferral | Financial Asset, Equal to or Greater than 90 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total delinquent modified loans	0	0
Consumer installment loans | Short-term Payment Deferral | Financial Asset, Not Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total delinquent modified loans	0	0
Consumer installment loans | Short-term Payment Deferral | Financial Asset, Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total delinquent modified loans	0	0
Consumer installment loans | Short-term Payment Deferral | Financing Receivables, 30 to 89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total delinquent modified loans	0	0
Consumer installment loans | Short-term Payment Deferral | Financial Asset, Equal to or Greater than 90 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total delinquent modified loans	$ 0	$ 0
Commercial credit products | Long-term Payment Deferral
Financing Receivable, Troubled Debt Restructuring [Line Items]
% of Loan Receivables	0.10%	0.20%
Commercial credit products | Long-term Payment Deferral | Financial Asset, Not Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total delinquent modified loans	$ 2	$ 2
Commercial credit products | Long-term Payment Deferral | Financial Asset, Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total delinquent modified loans	2	2
Commercial credit products | Long-term Payment Deferral | Financing Receivables, 30 to 89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total delinquent modified loans	1	1
Commercial credit products | Long-term Payment Deferral | Financial Asset, Equal to or Greater than 90 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total delinquent modified loans	1	1
Commercial credit products | Short-term Payment Deferral | Financial Asset, Not Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total delinquent modified loans	0	0
Commercial credit products | Short-term Payment Deferral | Financial Asset, Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total delinquent modified loans	0	0
Commercial credit products | Short-term Payment Deferral | Financing Receivables, 30 to 89 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total delinquent modified loans	0	0
Commercial credit products | Short-term Payment Deferral | Financial Asset, Equal to or Greater than 90 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Total delinquent modified loans	$ 0	$ 0

Loan Receivables and Allowanc_8

Loan Receivables and Allowance for Credit Losses - Classified as TDRs (Details) $ in Millions	Dec. 31, 2022 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total recorded investment	$ 1,359
Related allowance	(602)
Net recorded investment	757
Unpaid principal balance	1,210
Credit cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total recorded investment	1,355
Related allowance	(600)
Net recorded investment	755
Unpaid principal balance	1,206
Consumer installment loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total recorded investment	0
Related allowance	0
Net recorded investment	0
Unpaid principal balance	0
Commercial credit products
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total recorded investment	4
Related allowance	(2)
Net recorded investment	2
Unpaid principal balance	$ 4

Loan Receivables and Allowanc_9

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, 2022	Sep. 30, 2023	Dec. 31, 2022	Jun. 30, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Allowance for Credit Loss	$ 9,102	$ 9,102	$ 10,176	$ 9,527	$ 8,808	$ 8,688
Interest income recognized during period when loans were modified	9	26
Interest income that would have been recorded with original terms	81	235
Average recorded investment	1,222	1,204
Credit cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Allowance for Credit Loss	8,873	8,873	9,781	9,225	8,605	8,512
Interest income recognized during period when loans were modified	9	26
Interest income that would have been recorded with original terms	80	234
Average recorded investment	1,218	1,201
Consumer installment loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Allowance for Credit Loss	146	146	264	208	129	115
Interest income recognized during period when loans were modified	0	0
Interest income that would have been recorded with original terms	0	0
Average recorded investment	0	0
Commercial credit products
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Allowance for Credit Loss	80	80	124	87	71	59
Interest income recognized during period when loans were modified	0	0
Interest income that would have been recorded with original terms	1	1
Average recorded investment	4	3
Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Allowance for Credit Loss	$ 3	$ 3	$ 7	$ 7	$ 3	$ 2

Loan Receivables and Allowan_10

Loan Receivables and Allowance for Credit Losses - Payment Defaults (Details) contract in Thousands, $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($) contract	Sep. 30, 2022 USD ($) contract	Sep. 30, 2023 USD ($) contract	Sep. 30, 2022 USD ($) contract
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts defaulted		25		52
Loans defaulted | $	$ 78	$ 56	$ 123	$ 117
Financing Receivable, Modifications, Number of Contracts	31		51
Credit cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts defaulted		25	51	52
Loans defaulted | $	$ 77	$ 56	$ 122	$ 116
Financing Receivable, Modifications, Number of Contracts	31
Consumer installment loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts defaulted		0	0	0
Loans defaulted | $	$ 0	$ 0	$ 0	$ 0
Financing Receivable, Modifications, Number of Contracts	0
Commercial credit products
Accounts, Notes, Loans and Financing Receivable [Line Items]
Accounts defaulted		0	0	0
Loans defaulted | $	$ 1	$ 0	$ 1	$ 1
Financing Receivable, Modifications, Number of Contracts	0

Loan Receivables and Allowan_11

Loan Receivables and Allowance for Credit Losses - Credit Quality Indicators (Details)	Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Credit Quality Indicators, Percentage of Loan Receivables with No Vantage Score	0.30%	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	73%	74%	75%
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	19%	19%	18%
Credit cards | Five Hundred and Ninety or Less
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of class of loan receivable	8%	7%	7%
Consumer installment loans | Six Hundred and Fifty-One or Higher
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of class of loan receivable	76%	77%	77%
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%	17%
Consumer installment loans | Five Hundred and Ninety or Less
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of class of loan receivable	7%	6%	6%
Commercial credit products | Six Hundred and Fifty-One or Higher
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of class of loan receivable	86%	88%	90%
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	7%	6%	6%
Commercial credit products | Five Hundred and Ninety or Less
Accounts, Notes, Loans and Financing Receivable [Line Items]
Percentage of class of loan receivable	7%	6%	4%

Loan Receivables and Allowan_12

Loan Receivables and Allowance for Credit Losses - Interest Income by Product (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest and fees on loans	[1]	$ 5,151	$ 4,258	$ 14,579	$ 12,305
Contract with Customer, Liability		1,900		1,900		$ 1,700
Credit cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest and fees on loans	[2]	5,003	4,153	14,179	12,009
Financing Receivable, Accrued Interest, Writeoff		422	265	1,300	770
Consumer installment loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest and fees on loans		108	74	285	209
Commercial credit products
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest and fees on loans		38	30	108	83
Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest and fees on loans		$ 2	$ 1	$ 7	$ 4
[1]Deferred merchant discounts to be recognized in interest income at September 30, 2023 and December 31, 2022, were $1.9 billion and $1.7 billion, respectively, which are included in Accrued expenses and other liabilities in our Condensed Consolidated Statement of Financial Position.[2]Interest income on credit cards that was reversed related to accrued interest receivables written off was $422 million and $265 million for the three months ended September 30, 2023 and 2022, respectively, and $1.3 billion and $770 million for the nine months ended September 30, 2023 and 2022, respectively

Loan Receivables and Allowan_13

Loan Receivables and Allowance for Credit Losses - Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
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
Financing Receivable, Troubled Debt Restructuring, Success Rate			50%
FinancingReceivableModifiedWeightedAverageInterestRateDecreaseFromModification	97%		97%
Financing Receivable Modified Percent of Unpaid Balance Forgiven Short-term	$ 10		$ 123
Financing Receivable, Allowance for Credit Loss, Writeoff	(1,353)	$ (830)	(3,939)	$ (2,385)
Credit cards
Accounts, Notes, Loans and Financing Receivable [Line Items]
Unused Commitments to Extend Credit	426,000		426,000		$ 417,000
Financing Receivable, Allowance for Credit Loss, Writeoff	(1,265)	(785)	(3,697)	(2,273)
Consumer installment loans
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Allowance for Credit Loss, Writeoff	$ (59)	$ (25)	$ (148)	$ (63)

Variable Interest Entities - Su

Variable Interest Entities - Summary of Assets and Liabilities (Details) - USD ($) $ in Millions		Sep. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Variable Interest Entity [Line Items]
Loan receivables, net		$ 87,697	$ 82,943
Other assets		4,443	4,056
Total assets		112,939	104,564
Total liabilities		99,172	91,691
Financing Receivable, Allowance for Credit Loss		(10,176)	(9,527)	$ (9,102)	$ (8,808)	$ (8,688)
Total loan receivables	[1],[2]	$ 97,873	$ 92,470
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	[3]	$ 17,610	$ 18,015
Other assets	[4]	63	61
Total assets		17,673	18,076
Borrowings	[5]	6,519	6,227
Other liabilities		26	23
Total liabilities		6,545	6,250
Financing Receivable, Allowance for Credit Loss		(1,800)	(1,800)
Total loan receivables		19,403	19,832
Restricted Cash Equivalents		$ 60	$ 56
[1] Total loan receivables include $19.4 billion and $19.8 billion of restricted loans of consolidated securitization entities at September 30, 2023 and December 31, 2022, respectively. See Note 5. Variable Interest Entities for further information on these restricted loans. other assets (b) The Company may redeem certain borrowings prior to their original contractual maturity dates in accordance with the optional redemption provision specified in the respective instruments.

Variable Interest Entities - Na

Variable Interest Entities - Narrative (Details) - USD ($) $ in Millions		3 Months Ended		9 Months Ended
		Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Dec. 31, 2022
Variable Interest Entity [Line Items]
Interest and fees on loans	[1]	$ 5,151	$ 4,258	$ 14,579	$ 12,305
Provision for credit losses		1,488	929	4,161	2,174
Amortization Method Qualified Affordable Housing Project Investments		721		721		$ 557
Other investments in non-consolidated VIEs		252		252		$ 230
Investments Funding Commitment
Variable Interest Entity [Line Items]
Other Commitment		186		186
Variable Interest Entity, Primary Beneficiary
Variable Interest Entity [Line Items]
Interest and fees on loans		1,000	896	2,900	2,700
Provision for credit losses		189	23	553	151
Interest on borrowings of consolidated securitization entities		$ 86	$ 54	$ 241	$ 127
[1]Deferred merchant discounts to be recognized in interest income at September 30, 2023 and December 31, 2022, were $1.9 billion and $1.7 billion, respectively, which are included in Accrued expenses and other liabilities in our Condensed Consolidated Statement of Financial Position.

Intangible Assets - Schedule of

Intangible Assets - Schedule of Finite-Lived Intangible Assets (Details) - USD ($) $ in Millions	Sep. 30, 2023	Dec. 31, 2022
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	$ 3,627	$ 3,446
Accumulated amortization	(2,458)	(2,159)
Net	1,169	1,287
Customer-related
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	1,751	1,725
Accumulated amortization	(1,204)	(1,113)
Net	547	612
Capitalized software and other
Finite-Lived Intangible Assets [Line Items]
Gross carrying amount	1,876	1,721
Accumulated amortization	(1,254)	(1,046)
Net	$ 622	$ 675

Intangible Assets Narrative (De

Intangible Assets Narrative (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired			$ 182
Customer-Related Intangible Assets [Member]
Finite-Lived Intangible Assets [Line Items]
Finite-lived intangible assets acquired			$ 26	$ 55
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life			7 years	6 years
Selling and Marketing Expense [Member] | Retail Partner Contracts
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 28	$ 26	$ 82	$ 86
Other Expense | Finite-Lived Intangible Assets, Excluding Retail Partner Contracts
Finite-Lived Intangible Assets [Line Items]
Amortization expense	$ 74	$ 64	$ 217	$ 189

Deposits - Schedule of Deposit

Deposits - Schedule of Deposit Liabilities (Details) - USD ($) $ in Millions		9 Months Ended	12 Months Ended
		Sep. 30, 2023	Dec. 31, 2022
Deposits [Abstract]
Interest-bearing deposits, amount		$ 77,669	$ 71,336
Non-interest-bearing deposits, amount		397	399
Total deposits		$ 78,066	$ 71,735
Weighted Average Rate, Interest-Bearing Domestic Deposits, over Time	[1]	3.70%	1.50%
[1]Based on interest expense for the nine months ended September 30, 2023 and the year ended December 31, 2022 and average deposits balances.

Deposits - Maturity Schedule (D

Deposits - Maturity Schedule (Details) $ in Millions	Sep. 30, 2023 USD ($)
Maturities of Time Deposits [Abstract]
2023	$ 6,087
2024	28,709
2025	4,683
2026	1,475
2027	2,546
Thereafter	$ 1,261

Deposits - Narrative (Details)

Deposits - Narrative (Details) - USD ($) $ in Billions	Sep. 30, 2023	Dec. 31, 2022
Schedule of Deposits [Line Items]
Time Deposits, at or Above FDIC Insurance Limit	$ 8.9	$ 7.2
Demand deposits with no defined maturity	29
Deposits, Savings Deposits	27.2
Program Arranger
Schedule of Deposits [Line Items]
Broker network deposit sweeps	$ 3.9

Borrowings - Borrowings Schedul

Borrowings - Borrowings Schedule (Details) - USD ($) $ in Millions		Sep. 30, 2023	Dec. 31, 2022
Amount
Total borrowings	[1]	$ 15,231	$ 14,191
Senior unsecured notes
Amount
Unsecured debt	[1]	$ 7,971	7,964
Average rate
Weighted average interest rate		4.45%
Senior and Subordinated Notes
Amount
Unsecured debt		$ 8,712	7,964
Average rate
Weighted average interest rate		4.69%
Fixed Senior Unsecured Notes | Senior unsecured notes
Amount
Unsecured debt	[1]	$ 6,478	6,473
Average rate
Weighted average interest rate		4.22%
Fixed Subordinated Unsecured Notes | Senior Subordinated Notes
Amount
Unsecured debt		$ 741	0
Average rate
Weighted average interest rate		7.25%
Variable Interest Entity, Primary Beneficiary
Average rate
Weighted average interest rate		5.42%
Borrowings of consolidated securitization entities	[1]	$ 6,519	6,227
Variable Interest Entity, Primary Beneficiary | Fixed Securitized Borrowings
Average rate
Weighted average interest rate		4.30%
Borrowings of consolidated securitization entities	[1]	$ 2,669	2,377
Variable Interest Entity, Primary Beneficiary | Floating Securitized Borrowings
Average rate
Weighted average interest rate		6.20%
Borrowings of consolidated securitization entities	[1]	$ 3,850	3,850
Subsidiaries [Member] | Fixed Senior Unsecured Notes | Senior unsecured notes
Amount
Unsecured debt	[1]	$ 1,493	$ 1,491
Average rate
Weighted average interest rate		5.49%
Minimum | Fixed Senior Unsecured Notes | Senior unsecured notes
Average rate
Debt Instrument, Interest Rate, Stated Percentage		2.87%
Minimum | Fixed Subordinated Unsecured Notes | Senior Subordinated Notes
Average rate
Debt Instrument, Interest Rate, Stated Percentage		7.25%
Minimum | Variable Interest Entity, Primary Beneficiary | Fixed Securitized Borrowings
Average rate
Debt Instrument, Interest Rate, Stated Percentage		3.37%
Minimum | Variable Interest Entity, Primary Beneficiary | Floating Securitized Borrowings
Average rate
Debt Instrument, Interest Rate, Stated Percentage		6.07%
Minimum | Subsidiaries [Member] | Fixed Senior Unsecured Notes | Senior unsecured notes
Average rate
Debt Instrument, Interest Rate, Stated Percentage		5.40%
Maximum | Fixed Senior Unsecured Notes | Senior unsecured notes
Average rate
Debt Instrument, Interest Rate, Stated Percentage		5.15%
Maximum | Fixed Subordinated Unsecured Notes | Senior Subordinated Notes
Average rate
Debt Instrument, Interest Rate, Stated Percentage		7.25%
Maximum | Variable Interest Entity, Primary Beneficiary | Fixed Securitized Borrowings
Average rate
Debt Instrument, Interest Rate, Stated Percentage		5.54%
Maximum | Variable Interest Entity, Primary Beneficiary | Floating Securitized Borrowings
Average rate
Debt Instrument, Interest Rate, Stated Percentage		6.45%
Maximum | Subsidiaries [Member] | Fixed Senior Unsecured Notes | Senior unsecured notes
Average rate
Debt Instrument, Interest Rate, Stated Percentage		5.63%
[1]Includes unamortized debt premiums, discounts and issuance costs. (b) The Company may redeem certain borrowings prior to their original contractual maturity dates in accordance with the optional redemption provision specified in the respective instruments.

Borrowings - Borrowings Maturit

Borrowings - Borrowings Maturity Schedule (Details) $ in Millions	Sep. 30, 2023 USD ($)
Maturities of Long-Term Debt [Abstract]
2023	$ 0
2024	4,225
2025	5,300
2026	2,000
2027	1,600
Thereafter	$ 2,150

Borrowings - Narrative (Details

Borrowings - Narrative (Details) $ in Millions	Sep. 30, 2023 USD ($)
Variable Interest Entity, Primary Beneficiary
Debt Instrument [Line Items]
Remaining undrawn capacity	$ 2,500
Senior Subordinated Notes | Fixed Rate Subordinated Notes Due 2033
Debt Instrument [Line Items]
Debt Instrument, Face Amount	$ 750
Debt Instrument, Interest Rate, Stated Percentage	7.25%
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, 2023		Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (Note 3)		$ 2,882		$ 4,879
Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total	[1]	2,904		4,906
Business Combination, Contingent Consideration, Liability		6	[1]	7
Financial and Nonfinancial Liabilities, Fair Value Disclosure	[1]	6		7
Assets measured at fair value, Other		22	[1]	27
Fair Value, Measurements, Recurring | Level 1
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total		13		14
Business Combination, Contingent Consideration, Liability		0		0
Financial and Nonfinancial Liabilities, Fair Value Disclosure		0		0
Assets measured at fair value, Other		13		14
Fair Value, Measurements, Recurring | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Total		2,865		4,862
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		26		30
Business Combination, Contingent Consideration, Liability		6		7
Financial and Nonfinancial Liabilities, Fair Value Disclosure		6		7
Assets measured at fair value, Other		9		13
U.S. government and federal agency
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (Note 3)		1,436		3,864
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]	1,436		3,864
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)		1,436		3,864
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)		9		10
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]	9		10
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)		9		10
Residential mortgage-backed
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (Note 3)	[2]	354		418
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]	354		418
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)		354		418
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]	1,075		580
Asset-backed | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (Note 3)	[1]	1,075		580
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)		1,075		580
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)		8		7
Other Debt Obligations | Fair Value, Measurements, Recurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt securities (Note 3)		8		7
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)		$ 8		$ 7
[1]For the nine months ended September 30, 2023 and 2022, 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, 2023 and December 31, 2022, $86 million and $100 million of residential mortgage-backed securities, respectively, were 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, 2023		Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and equivalents	$ 15,643	[1]	$ 10,294
Other assets	157	[1],[2]	136
Loan receivables, net	99,153	[3]	94,339
Deposits	77,710		70,685
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and equivalents	15,643		10,294
Other assets	157		136
Loan receivables, net	87,688		82,930
Deposits	78,066		71,735
Level 1
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and equivalents	15,643		10,294
Other assets	157		136
Loan receivables, net	0	[3]	0
Deposits	0		0
Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Other assets	0	[1],[2]	0
Loan receivables, net	0	[3]	0
Deposits	77,710		70,685
Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Cash and equivalents	0	[1]	0
Other assets	0	[1],[2]	0
Loan receivables, net	99,153		94,339
Deposits	0		0
Senior Notes
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	8,014		7,530
Senior Notes | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt Instrument, Fair Value Disclosure	8,712		7,964
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	8,014		7,530
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	6,454		6,127
Variable Interest Entity, Primary Beneficiary | Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Borrowings of consolidated securitization entities	6,519		6,227
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	2,605		2,327
Variable Interest Entity, Primary Beneficiary | Level 3
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Borrowings of consolidated securitization entities	$ 3,849		$ 3,800
[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, 2023		Sep. 30, 2022		Sep. 30, 2023		Sep. 30, 2022		Dec. 31, 2022
Fair Value Disclosures [Abstract]
Carry Value	$ 268	[1]	$ 246	[1]	$ 268	[1]	$ 246	[1]	$ 245
Equity Securities without Readily Determinable Fair Value, Upward Price Adjustment, Annual Amount	17	[2]	0	[2]	17		7
Equity Securities without Readily Determinable Fair Value, Downward Price Adjustment, Annual Amount	(5)	[2]	$ (1)	[2]	(6)		$ (3)
Equity Securities without Readily Determinable Fair Value, Upward Price Adjustment, Cumulative Amount	205				205
Equity Securities without Readily Determinable Fair Value, Downward Price Adjustment, Cumulative Amount	$ (14)				$ (14)
[1]December 31, 2022 was $245 million.[2]Between January 1, 2018 and September 30, 2023, cumulative upward and downward carrying value adjustments were $205 million and $(14) million, respectively.

Regulatory and Capital Adequa_3

Regulatory and Capital Adequacy (Capital Amounts and Ratios) (Details) - Basel III $ in Millions		Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Capital conservation buffer		0.025	0.025
Total risk-based capital
Actual		$ 14,964	$ 13,713
Actual (percent)	[1]	0.153	0.150
Minimum for capital adequacy purposes		$ 7,839	$ 7,328
Minimum for capital adequacy purposes (percent)	[2]	0.080	0.080
Tier 1 risk-based capital
Banking Regulation, Tier One Risk-Based Capital, Actual		$ 12,906	$ 12,493
Actual (percent)	[1]	0.132	0.136
Minimum for capital adequacy purposes		$ 5,879	$ 5,496
Minimum for capital adequacy purposes (percent)	[2]	0.060	0.060
Tier 1 leverage
Banking Regulation, Tier One Leverage Capital, Actual		$ 12,906	$ 12,493
Actual (percent)	[1]	0.118	0.123
Minimum for capital adequacy purposes		$ 4,380	$ 4,075
Minimum for capital adequacy purposes (percent)	[2]	0.040	0.040
Common equity Tier I capital
Common equity, actual		$ 12,172	$ 11,759
Common equity, actual (percent)	[1]	0.124	0.128
Common equity, minimum for capital adequacy purposes		$ 4,409	$ 4,122
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		$ 14,401	$ 13,313
Actual (percent)	[1]	0.156	0.156
Minimum for capital adequacy purposes		$ 7,396	$ 6,838
Minimum for capital adequacy purposes (percent)	[2]	0.080	0.080
Minimum to be well-capitalized under prompt corrective action provisions		$ 9,244	$ 8,547
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		$ 12,408	$ 12,174
Actual (percent)	[1]	0.134	0.142
Minimum for capital adequacy purposes		$ 5,547	$ 5,128
Minimum for capital adequacy purposes (percent)	[2]	0.060	0.060
Minimum to be well-capitalized under prompt corrective action provisions		$ 7,396	$ 6,838
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		$ 12,408	$ 12,174
Actual (percent)	[1]	0.121	0.128
Minimum for capital adequacy purposes		$ 4,108	$ 3,790
Minimum for capital adequacy purposes (percent)	[2]	0.040	0.040
Minimum to be well-capitalized under prompt corrective action provisions		$ 5,136	$ 4,738
Minimum to be well-capitalized under prompt corrective action provisions (percent)		0.050	0.050
Common equity Tier I capital
Common equity, actual		$ 12,408	$ 12,174
Common equity, actual (percent)	[1]	0.134	0.142
Common equity, minimum for capital adequacy purposes		$ 4,160	$ 3,846
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		$ 6,009	$ 5,556
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, 2023 and at December 31, 2022 in the above tables reflect the applicable CECL regulatory capital transition adjustment.[2]At September 30, 2023 and at December 31, 2022, 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, 2023	Jun. 30, 2023	Mar. 31, 2023	Sep. 30, 2022	Jun. 30, 2022	Mar. 31, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Net earnings	$ 628	$ 569	$ 601	$ 703	$ 804	$ 932	$ 1,798	$ 2,439
Preferred stock dividends	(10)			(11)			(31)	(32)
Net earnings available to common stockholders	$ 618			$ 692			$ 1,767	$ 2,407
Weighted average common shares outstanding, basic (in shares)	416			468.5			424.3	492.1
Effect of dilutive securities (in shares)	2.4			2.2			2.2	2.9
Weighted average common shares outstanding, dilutive (in shares)	418.4			470.7			426.5	495
Earnings per basic common share (in usd per share)	$ 1.49			$ 1.48			$ 4.16	$ 4.89
Earnings per diluted common share (in usd per share)	$ 1.48			$ 1.47			$ 4.14	$ 4.86

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares shares in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share, amount	3	5	5	3

Income Taxes - Unrecognized Tax

Income Taxes - Unrecognized Tax Benefits (Details) - USD ($) $ in Millions		Sep. 30, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Portion that, if recognized, would reduce tax expense and effective tax rate	[1]	$ 199	$ 177
Unrecognized tax benefits, excluding related interest expense and penalties	[2]	252	$ 267
Decrease in Unrecognized Tax Benefits is Reasonably Possible		31
Decrease in Unrecognized Tax Benefits That Would Impact Effective Tax Rate		$ 24
[1]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.[2]Interest and penalties related to unrecognized tax benefits were not material for all periods presented.

Legal Proceedings and Regulat_2

Legal Proceedings and Regulatory Matters (Details) $ in Millions	Apr. 03, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Loss contingency, estimate of possible loss	$ 34