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Condensed Consolidated Statements of Financial Position - USD ($)
$ in Millions
Mar. 31, 2020
Dec. 31, 2019
Assets    
Cash and equivalents $ 13,704 $ 12,147
Debt securities (Note 3) 6,146 5,911
Loan receivables: (Notes 4 and 5) [1],[2] 82,469 87,215
Less: Allowance for credit losses (9,175) [3] (5,602)
Loan receivables, net 73,294 81,613
Loan receivables held for sale (Note 4) 5 725
Goodwill 1,078 1,078
Intangible assets, net (Note 6) 1,208 1,265
Other assets 2,603 2,087
Total assets 98,038 104,826
Deposits: (Note 7)    
Interest-bearing deposit accounts 64,302 64,877
Non-interest-bearing deposit accounts 313 277
Total deposits 64,615 65,154
Borrowings: (Notes 5 and 8)    
Senior unsecured notes 7,957 9,454
Total borrowings [4] 17,248 19,866
Accrued expenses and other liabilities 4,205 4,718
Total liabilities 86,068 89,738
Equity:    
Preferred stock, par share value $0.001 per share; 750,000 shares authorized; 750,000 shares issued and outstanding at both March 31, 2020 and December 31, 2019 and aggregate liquidation preference of $750 at both March 31, 2020 and December 31, 2019 734 734
Common Stock, par share value $0.001 per share; 4,000,000,000 shares authorized; 833,984,684 shares issued at both March 31, 2020 and December 31, 2019; 583,232,644 and 615,925,168 shares outstanding at March 31, 2020 and December 31, 2019, respectively 1 1
Additional paid-in capital 9,523 9,537
Retained earnings 9,960 12,117
Accumulated other comprehensive income (loss):    
Debt securities 16 (1)
Currency translation adjustments (32) (24)
Employee benefit plans (33) (33)
Treasury stock, at cost; 250,752,040 and 218,059,516 shares at March 31, 2020 and December 31, 2019, respectively (8,199) (7,243)
Total equity 11,970 15,088
Total liabilities and equity 98,038 104,826
Restricted loans of consolidated securitization entities    
Assets    
Loan receivables: (Notes 4 and 5) 27,704 28,817
Less: Allowance for credit losses (2,500)  
Loan receivables, net [5] 25,240 27,217
Other assets [6] 63 68
Total assets 25,303 27,285
Borrowings: (Notes 5 and 8)    
Borrowings of consolidated securitization entities [4] 9,291 10,412
Total liabilities 9,318 10,444
Unsecuritized Loans Held for Investment [Member]    
Assets    
Loan receivables: (Notes 4 and 5) $ 54,765 $ 58,398
[1]
At March 31, 2020 and December 31, 2019, loan receivables included deferred costs, net of deferred income, of $151 million and $140 million, respectively.
[2]
Total loan receivables include $27.7 billion and $28.8 billion of restricted loans of consolidated securitization entities at March 31, 2020 and December 31, 2019, respectively. See Note 5. Variable Interest Entities for further information on these restricted loans.
[3]
The allowance for credit losses at March 31, 2020 reflects our estimate of expected credit losses for the life of the loan receivables on our condensed consolidated statement of financial position at March 31, 2020, which includes the consideration of current and expected macroeconomic conditions that existed at that date.
[4]
The amounts presented above for outstanding borrowings include unamortized debt premiums, discounts and issuance cost.
[5]
Includes $2.5 billion of related allowance for credit losses resulting in gross restricted loans of $27.7 billion at March 31, 2020 and $1.6 billion of related allowance for loan losses resulting in gross restricted loans of $28.8 billion at December 31, 2019, respectively.
[6]
Includes $57 million and $62 million of segregated funds held by the VIEs at March 31, 2020 and December 31, 2019, respectively, which are classified as restricted cash and equivalents and included as a component of other assets in our Condensed Consolidated Statements of Financial Position.