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Loan Receivables and Allowance for Credit Losses (Tables)
3 Months Ended
Mar. 31, 2022
Receivables [Abstract]  
Schedule of Accounts, Notes, Loans and Financing Receivable
($ in millions)March 31, 2022December 31, 2021
Credit cards$74,596 $76,628 
Consumer installment loans2,719 2,675 
Commercial credit products1,530 1,372 
Other 71 65 
Total loan receivables, before allowance for credit losses(a)(b)
$78,916 $80,740 
_______________________
(a)Total loan receivables include $19.3 billion and $20.5 billion of restricted loans of consolidated securitization entities at March 31, 2022 and December 31, 2021, respectively. See Note 5. Variable Interest Entities for further information on these restricted loans.
(b)At March 31, 2022 and December 31, 2021, loan receivables included deferred costs, net of deferred income, of $213 million and $211 million, respectively.
Allowance for Credit Losses on Financing Receivables
Allowance for Credit Losses
 ($ in millions)Balance at January 1, 2022Provision charged to operationsGross charge-offsRecoveriesOtherBalance at
March 31, 2022
Credit cards$8,512 $482 $(719)$189 $— $8,464 
Consumer installment loans115 17 (21)— 115 
Commercial credit products59 22 (12)— 70 
Other— — — — 
Total$8,688 $521 $(752)$194 $— $8,651 
($ in millions)Balance at January 1, 2021Provision charged to operationsGross charge-offsRecoveriesOtherBalance at
March 31, 2021
Credit cards$10,076 $341 $(901)$219 $— $9,735 
Consumer installment loans127 (18)(15)100 
Commercial credit products61 10 (9)— 64 
Other— — — 
Total$10,265 $334 $(925)$226 $$9,901 
Past Due Financing Receivables
Delinquent and Non-accrual Loans
At March 31, 2022 ($ in millions)30-89 days delinquent90 or more days delinquentTotal past due90 or more days delinquent and accruingTotal non-accruing
Credit cards$1,103 $1,000 $2,103 $1,000 $— 
Consumer installment loans30 36 — 
Commercial credit products35 20 55 20 — 
Total delinquent loans$1,168 $1,026 $2,194 $1,020 $
Percentage of total loan receivables1.5 %1.3 %2.8 %1.3 %— %
At December 31, 2021 ($ in millions)30-89 days delinquent90 or more days delinquentTotal past due90 or more days delinquent and accruingTotal non-accruing
Credit cards$1,111 $923 $2,034 $923 $— 
Consumer installment loans35 41 — 
Commercial credit products26 13 39 13 — 
Total delinquent loans$1,172 $942 $2,114 $936 $
Percentage of total loan receivables1.5 %1.2 %2.6 %1.2 %— %

Delinquency trends are the primary credit quality indicator for our consumer installment loans, which we use to monitor credit quality and risk within the portfolio. Total consumer installment past due of $36 million and $41 million at March 31, 2022 and December 31, 2021, respectively, were not material.
Troubled Debt Restructurings on Financing Receivables The following table provides information on our TDR loan modifications during the periods presented:
Three months ended March 31,
($ in millions)20222021
Credit cards$223 $261 
Consumer installment loans— — 
Commercial credit products
Total$224 $262 
Impaired Financing Receivables
The following table provides information about loans classified as TDRs and specific reserves. We do not evaluate credit card loans on an individual basis but instead estimate an allowance for credit losses on a collective basis.
At March 31, 2022 ($ in millions)Total recorded
investment
Related allowanceNet recorded investmentUnpaid principal balance
Credit cards$1,193 $(496)$697 $1,071 
Consumer installment loans— — — — 
Commercial credit products(1)
Total$1,196 $(497)$699 $1,074 
At December 31, 2021 ($ in millions)Total recorded
investment
Related allowanceNet recorded investmentUnpaid principal balance
Credit cards$1,171 $(481)$690 $1,053 
Consumer installment loans— — — — 
Commercial credit products(1)
Total$1,174 $(482)$692 $1,056 
The following table presents the types and financial effects of loans modified and accounted for as TDRs during the periods presented:
Three months ended March 31,20222021
($ in millions)Interest income recognized during period when loans were modifiedInterest income that would have been recorded with original termsAverage recorded investmentInterest income recognized during period when loans were modifiedInterest income that would have been recorded with original termsAverage recorded investment
Credit cards$$77 $1,183 $11 $79 $1,273 
Consumer installment loans— — — — — — 
Commercial credit products— — — — 
Total$$77 $1,186 $11 $79 $1,277 
Troubled Debt Restructurings on Financing Receivables, Subsequent Default
The following table presents the type, number and amount of loans accounted for as TDRs that enrolled in a modification plan within the previous 12 months from the applicable balance sheet date and experienced a payment default and charged-off during the periods presented.
Three months ended March 31,20222021
($ in millions)Accounts defaultedLoans defaultedAccounts defaultedLoans defaulted
Credit cards18,072 $42 16,933 $47 
Consumer installment loans— — — — 
Commercial credit products38 — 38— 
Total18,110 $42 16,971 $47 
Financing Receivable Credit Quality Indicators The following table provides the most recent VantageScore scores available for our customers at March 31, 2022, December 31, 2021 and March 31, 2021, respectively, as a percentage of each class of loan receivable. The table below excludes 0.4%, 0.4% and 0.6% of our total loan receivables balance at each of March 31, 2022, December 31, 2021 and March 31, 2021, respectively, which represents those customer accounts for which a VantageScore score is not available.
March 31, 2022December 31, 2021March 31, 2021
651 or591 to590 or651 or591 to590 or651 or591 to590 or
higher650 lesshigher650 lesshigher650 less
Credit cards76 %18 %%78 %17 %%77 %18 %%
Consumer installment loans79 %17 %%79 %17 %%79 %17 %%
Commercial credit products 92 %%%92 %%%93 %%%
Interest Income and Interest Expense Disclosure
The following table provides additional information about our interest and fees on loans, including merchant discounts, from our loan receivables, including held for sale:
Three months ended March 31,
($ in millions)20222021
Credit cards(a)
$3,913 $3,657 
Consumer installment loans66 53 
Commercial credit products28 21 
Other
Total$4,008 $3,732 
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(a)Interest income on credit cards that was reversed related to accrued interest receivables written off was $247 million and $305 million for the three months ended March 31, 2022 and 2021, respectively.