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Allowance for Finance Receivable Losses (Tables)
 12 Months Ended
Dec. 31, 2020
Receivables [Abstract]  
Schedule of changes in the allowance for finance receivable losses by finance receivable type
Changes in the allowance for finance receivable losses were as follows:
(dollars in millions)Personal
Loans		Other
Receivables		Total
Year Ended December 31, 2020
Balance at beginning of period$829 $— $829 
Impact of adoption of ASU 2016-13 (a)1,118 — 1,118 
Provision for finance receivable losses1,319 — 1,319 
Charge-offs(1,162)— (1,162)
Recoveries165 — 165 
Balance at end of period$2,269 $— $2,269 
Year Ended December 31, 2019
Balance at beginning of period$731 $— $731 
Provision for finance receivable losses1,129 — 1,129 
Charge-offs(1,157)— (1,157)
Recoveries126 — 126 
Balance at end of period$829 $— $829 
Year Ended December 31, 2018
Balance at beginning of period$673 $24 $697 
Provision for finance receivable losses1,050 (2)1,048 
Charge-offs(1,102)(2)(1,104)
Recoveries110 3 113 
Other (b)— (23)(23)
Balance at end of period$731 $— $731 
(a) As a result of the adoption of ASU 2016-13 on January 1, 2020, we recorded a one-time adjustment to the allowance for finance receivable losses. See Notes 4 and 5 for additional information on the adoption of ASU 2016-13.
(b) Other consists primarily of the reclassification of allowance for finance receivable losses due to the transfer of the real estate loans in other receivables from held for investment to finance receivables held for sale on September 30, 2018.
Schedule of allowance for finance receivable losses and net finance receivables by type and by impairment method
The allowance for finance receivable losses and net finance receivables by impairment method were as follows:
(dollars in millions)
December 31,20202019
Allowance for finance receivable losses:
Collectively evaluated for impairment
$1,955 $557 
Purchased credit impaired finance receivables *— — 
TDR finance receivables314 272 
Total$2,269 $829 
Finance receivables:
Collectively evaluated for impairment
$17,393 $17,691 
Purchased credit impaired finance receivables *
— 40 
TDR finance receivables691 658 
Total$18,084 $18,389 
Allowance for finance receivable losses as a percentage of finance receivables
12.55 %4.51 %
* As a result of the adoption of ASU 2016-13 on January 1, 2020, the accounting for purchased credit impaired finance receivables was superseded with purchase credit deteriorated finance receivables which are collectively evaluated for impairment. See Notes 4 and 5 for additional information on the adoption of ASU 2016-13.