Synchrony Financial and subsidiaries
Condensed Consolidated Statements of Financial Position (Unaudited)
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($ in millions) At March 31, 2024 At December 31, 2023
Assets
Cash and equivalents $ 20,021 $ 14,259
Debt securities (Note 4) 3,005 3,799
Loan receivables: (Notes 5 and 6)
Unsecuritized loans held for investment 81,642 81,554
Restricted loans of consolidated securitization entities
20,091 21,434
Total loan receivables 101,733 102,988
Less: Allowance for credit losses (10,905) (10,571)
Loan receivables, net 90,828 92,417
Goodwill (Note 7) 1,073 1,018
Intangible assets, net (Note 7) 800 815
Other assets 5,446 4,915
Assets held for sale (Note 3) — 256
Total assets
$ 121,173 $ 117,479
Liabilities and Equity
Deposits: (Note 8)
Interest-bearing deposit accounts $ 83,160 $ 80,789
Non-interest-bearing deposit accounts 394 364
Total deposits 83,554 81,153
Borrowings: (Notes 6 and 9)
Borrowings of consolidated securitization entities 8,016 7,267
Senior and subordinated unsecured notes 8,117 8,715
Total borrowings 16,133 15,982
Accrued expenses and other liabilities 6,204 6,334
Liabilities held for sale (Note 3)
— 107
Total liabilities $ 105,891 $ 103,576
Equity:
Preferred stock, par share value $0.001 per share; 1,250,000 and 750,000 shares authorized at
March 31, 2024 and December 31, 2023, respectively; 1,250,000 and 750,000 shares issued and
outstanding at March 31, 2024 and December 31, 2023, respectively, and aggregate liquidation
preference of $1,250 at March 31, 2024 and $750 at December 31, 2023
$ 1,222 $ 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, 2024 and December 31, 2023; 401,410,596 and 406,875,775 shares
outstanding at March 31, 2024 and December 31, 2023, respectively 1 1
Additional paid-in capital 9,768 9,775
Retained earnings 19,790 18,662
Accumulated other comprehensive income (loss):
Debt securities (34) (33)
Currency translation adjustments (38) (38)
Employee benefit plans 3 3
Treasury stock, at cost; 432,574,088 and 427,108,909 shares at March 31, 2024 and December 31,
2023, respectively (15,430) (15,201)
Total equity
15,282 13,903
Total liabilities and equity
$ 121,173 $ 117,479
See accompanying notes to condensed consolidated financial statements.
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