Fair Value, Assets Measured on Recurring Basis |
| | | | | | | | | | | | | | | | | At September 30, 2020 ($ in millions) | Level 1 |
| | Level 2 |
| | Level 3 |
| | Total(a) |
| Assets | | | | | | | | Debt securities | | | | | | | | U.S. government and federal agency | $ | — |
| | $ | 5,199 |
| | $ | — |
| | $ | 5,199 |
| State and municipal | — |
| | — |
| | 39 |
| | 39 |
| Residential mortgage-backed | — |
| | 830 |
| | — |
| | 830 |
| Asset-backed | — |
| | 2,364 |
| | — |
| | 2,364 |
| Other assets(b) | 15 |
| | — |
| | 19 |
| | 34 |
| Total | $ | 15 |
| | $ | 8,393 |
| | $ | 58 |
| | $ | 8,466 |
| | | | | | | | | Liabilities | | | | | | | | Contingent consideration | — |
| | — |
| | 11 |
| | 11 |
| Total | $ | — |
| | $ | — |
| | $ | 11 |
| | $ | 11 |
| | | | | | | | | At December 31, 2019 ($ in millions) | | | | | | | | Assets | | | | | | | | Debt securities | | | | | | | | U.S. government and federal agency | $ | — |
| | $ | 2,469 |
| | $ | — |
| | $ | 2,469 |
| State and municipal | — |
| | — |
| | 45 |
| | 45 |
| Residential mortgage-backed | — |
| | 1,026 |
| | — |
| | 1,026 |
| Asset-backed | — |
| | 2,371 |
| | — |
| | 2,371 |
| Other assets(b) | 15 |
| | — |
| | 21 |
| | 36 |
| Total | $ | 15 |
| | $ | 5,866 |
| | $ | 66 |
| | $ | 5,947 |
| | | | | | | | | Liabilities | | | | | | | | Contingent consideration | — |
| | — |
| | 13 |
| | 13 |
| Total | $ | — |
| | $ | — |
| | $ | 13 |
| | $ | 13 |
|
_______________________ | | (a) | For the nine months ended September 30, 2020 and 2019, there were no fair value measurements transferred between levels. |
| | (b) | Other assets primarily relate to equity investments measured at fair value. |
|
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, 2020 ($ 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) | $ | 13,552 |
| | $ | 13,552 |
| | $ | 11,752 |
| | $ | 1,800 |
| | $ | — |
| Other assets(a)(b) | $ | 74 |
| | $ | 74 |
| | $ | 74 |
| | $ | — |
| | $ | — |
| Financial assets carried at other than fair value: | | | | | | | | | | Loan receivables, net(c) | $ | 68,375 |
| | $ | 81,504 |
| | $ | — |
| | $ | — |
| | $ | 81,504 |
| Loan receivables held for sale(c) | $ | 4 |
| | $ | 4 |
| | $ | — |
| | $ | — |
| | $ | 4 |
| | | | | | | | | | | Financial Liabilities | | | | | | | | | | Financial liabilities carried at other than fair value: | | | | | | | | | | Deposits | $ | 63,493 |
| | $ | 64,156 |
| | $ | — |
| | $ | 64,156 |
| | $ | — |
| Borrowings of consolidated securitization entities | $ | 7,809 |
| | $ | 7,990 |
| | $ | — |
| | $ | 5,692 |
| | $ | 2,298 |
| Senior unsecured notes | $ | 7,962 |
| | $ | 8,554 |
| | $ | — |
| | $ | 8,554 |
| | $ | — |
| | | | | | | | | | | | Carrying |
| | Corresponding fair value amount | At December 31, 2019 ($ 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) | $ | 12,147 |
| | $ | 12,147 |
| | $ | 10,799 |
| | $ | 1,348 |
| | $ | — |
| Other assets(a)(b) | $ | 500 |
| | $ | 500 |
| | $ | 500 |
| | $ | — |
| | $ | — |
| Financial assets carried at other than fair value: | | | | | | | | | | Loan receivables, net(c) | $ | 81,613 |
| | $ | 90,941 |
| | $ | — |
| | $ | — |
| | $ | 90,941 |
| Loan receivables held for sale(c) | $ | 725 |
| | $ | 726 |
| | $ | — |
| | $ | — |
| | $ | 726 |
| | | | | | | | | | | Financial Liabilities | | | | | | | | | | Financial liabilities carried at other than fair value: | | | | | | | | | | Deposits | $ | 65,154 |
| | $ | 65,544 |
| | $ | — |
| | $ | 65,544 |
| | $ | — |
| Borrowings of consolidated securitization entities | $ | 10,412 |
| | $ | 10,513 |
| | $ | — |
| | $ | 7,613 |
| | $ | 2,900 |
| Senior unsecured notes | $ | 9,454 |
| | $ | 9,924 |
| | $ | — |
| | $ | 9,924 |
| | $ | — |
|
_______________________ | | (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. Cash equivalents classified as Level 2 represent U.S. Government and Federal Agency debt securities with original maturities of three months or less or acquired within three months or less of their maturity. |
| | (b) | This balance relates to restricted cash and equivalents, which is included in other assets. |
(c) Under certain retail partner program agreements, the expected sales proceeds related to the 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.
|