EX-99.1 2 creditstatsfinancialtables.htm EX-99.1 Document
Exhibit 99.1
SYNCHRONY FINANCIAL
MONTHLY CHARGE-OFF AND DELINQUENCY STATISTICS
AS OF AND FOR EACH OF THE THIRTEEN MONTHS ENDED
(unaudited, $ in billions)
The following table provides monthly charge-off and delinquency statistics as of and for each of the thirteen months ended March 31, 2024.
The year over year increase in the 30+ delinquency rate at March 31, 2024 and the year over year increase in net charge-off rate for the month ended March 31, 2024 reflect the continued impact of moderation in customer payment rates.
Mar 31,
2024		Feb 29,
2024		Jan 31,
2024		Dec 31,
2023		Nov 30,
2023		Oct 31,
2023		Sep 30,
2023		Aug 31,
2023		Jul 31,
2023		Jun 30,
2023		May 31,
2023		Apr 30,
2023		Mar 31,
2023
Period-end loan receivables$101.7 $100.0 $101.3 $103.0 $101.2 $98.9 $97.9 $97.3 $96.3 $94.8 $93.9 $92.1 $91.1 
Average loan receivables, including held for sale$101.2 $100.3 $101.4 $102.0 $99.1 $97.9 $97.3 $96.2 $95.2 $93.9 $92.3 $91.3 $90.3 
30+ delinquency rate(1)
4.7 %5.0 %4.9 %4.7 %4.7 %4.6 %4.4 %4.1 %4.0 %3.8 %3.8 %3.7 %3.8 %
Net charge-off rate(1)(2)
6.6 %6.5 %5.8 %5.7 %5.6 %5.4 %4.5 %4.6 %4.7 %4.7 %5.0 %4.6 %4.5 %
Recovery adjustment(3)
(0.2)%— %0.2 %(0.1)%— %0.2 %(0.1)%0.1 %— %— %(0.1)%0.1 %— %
Adjusted net charge-off rate(4)
6.4 %6.5 %6.0 %5.6 %5.6 %5.6 %4.4 %4.7 %4.7 %4.7 %4.9 %4.7 %4.5 %
(1) References to “30+ delinquency rate” are to over-30 day loan delinquencies as a percentage of period-end loan receivables. References to “net charge-off rate” are to net charge-offs (annualized) as a percentage of average loan receivables, including held for sale.
(2) Charge-offs are executed on charge-off cycle dates which occur on various days during each calendar month. The number of different charge-off cycle dates in each month varies based on such factors as the calendar and the timing of billing cycles. As a result, the amount of charged-off loan receivables can vary between monthly periods with no corresponding change in the performance of the portfolio. The following table sets forth the number of different charge-off cycle dates for our consumer credit card loan receivables, which represent approximately 92% of total period end loan receivables at March 31, 2024, for the calendar months indicated.
20232024
January3029
February2827
March2828
April2828
May2928
June2728
July2829
August2825
September2630
October3028
November2826
December2830
(3) Represents adjustment to allocate recoveries, including debt sales, evenly across the three calendar months of each respective quarterly reporting period. The adjustments for periods other than for the last month of each calendar quarter incorporate estimated recoveries for the applicable full quarterly reporting period. Such estimates are subject to change within each applicable quarter and may differ from actual quarterly results.
(4) Adjusted net charge-off rate represents adjusted net charge-offs as a percentage of average loan receivables, including held for sale. Adjusted net charge-offs are a non-GAAP financial measure that include the 'recovery adjustment' defined above. We believe the presentation of the adjusted net charge-off rate is useful to investors as it represents a monthly measure which is more indicative of both our quarterly and annual net charge-off rates.
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