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Accounts Receivable and Loans (Tables) | 12 Months Ended
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Dec. 31, 2011
Accounts Receivable and Loans (Tables) [Abstract] |
Cardmember receivables segment detail | Accounts receivable as of December 31, 2011 and 2010 were as follows:
(Millions) |  | 2011 |  | 2010
U.S. Card Services(a) |  | $ | 20,645 |  | $ | 19,155
International Card Services |  |  | 7,222 |  |  | 6,673
Global Commercial Services(b) |  |  | 12,829 |  |  | 11,259
Global Network & Merchant Services(c) |  |  | 194 |  |  | 179
Cardmember receivables, gross(d) |  |  | 40,890 |  |  | 37,266
Less: Cardmember receivables reserves for losses |  |  | 438 |  |  | 386
Cardmember receivables, net |  | $ | 40,452 |  | $ | 36,880
Other receivables, net(e) |  | $ | 3,657 |  | $ | 3,554
Includes $7.5 billion and $7.7 billion of gross cardmember receivables available to settle obligations of a consolidated VIE as of December 31, 2011 and 2010, respectively. Includes $0.5 billion of gross cardmember receivables available to settle obligations of a consolidated VIE as of December 31, 2011 and 2010. Includes $563 million and $106 million due from airlines, of which Delta Air Lines (Delta) comprises $340 million and $68 million, as of December 31, 2011 and 2010, respectively. Includes receivables primarily related to the Company's International Currency Card portfolios. Includes approximately $12.8 billion and $11.7 billion of cardmember receivables outside the United States as of December 31, 2011 and 2010, respectively. Other receivables primarily represent amounts related to purchased joint venture receivables, amounts due from certain merchants for billed discount revenue, amounts due from the Company's travel customers and suppliers, amounts due from third-party issuing partners, amounts for tax-related receivables, accrued interest on investments and other receivables due to the Company in the ordinary course of business. As of December 31, 2011, o ther receivables also include d investments that matured on December 31, 2011, but which did not settle until January 3, 2012. Other receivables are presented ne t of reserves for losses of $102 m illion and $175 m illion as of December 31, 2011 and 2010, respectively.
Cardmember loans segment detail | Loans as of December 31, 2011 and 2010 consisted of:
(Millions) |  |  | 2011 |  |  | 2010
U.S. Card Services(a) |  | $ | 53,686 |  | $ | 51,565
International Card Services |  |  | 8,901 |  |  | 9,255
Global Commercial Services |  |  | 34 |  |  | 30
Cardmember loans, gross(b) |  |  | 62,621 |  |  | 60,850
Less: Cardmember loans reserves for losses |  |  | 1,874 |  |  | 3,646
Cardmember loans, net |  | $ | 60,747 |  | $ | 57,204
Other loans, net(c) |  | $ | 419 |  | $ | 412
Includes approximately $33.8 billion and $34.7 billion of gross cardmember loans available to settle obligations of a consolidated VIE as of December 31, 2011 and 2010, respectively. Cardmember loan balance includes u namortized net card fees of $140 million and $134 million as of December 31, 2011 and 2010, respectively. Other loans primarily represent sm all business installment loans and a store card portfolio whose billed business is not processed on the Company's network. Other loans are presented net of reserves for losses of $18 million and $24 million as of December 31, 2011 and 2010, respectively.
Aging of cardmember loans and receivables | T he following table represents the aging of cardmember loans and receivables as of December 31, 2011 and 2010:
|  |  |  |  |  |  | 30-59 |  |  | 60-89 |  |  | 90+ |  |  |
|  |  |  |  |  |  | Days |  |  | Days |  |  | Days |  |  |
|  |  |  |  |  |  | Past |  |  | Past |  |  | Past |  |  |
2011 (Millions) |  |  | Current |  |  | Due |  |  | Due |  |  | Due |  |  | Total
Cardmember |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Card Services |  | $ | 52,930 |  | $ | 218 |  | $ | 165 |  | $ | 373 |  | $ | 53,686
International Card |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Services |  |  | 8,748 |  |  | 52 |  |  | 32 |  |  | 69 |  |  | 8,901
Cardmember |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Receivables: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Card Services |  | $ | 20,246 |  | $ | 122 |  | $ | 81 |  | $ | 196 |  | $ | 20,645
International Card |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Services(a) |  |  | (b) |  |  | (b) |  |  | (b) |  |  | 63 |  |  | 7,222
Global Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Services(a) |  |  | (b) |  |  | (b) |  |  | (b) |  |  | 109 |  |  | 12,829
|  |  |  |  |  |  | 30-59 |  |  | 60-89 |  |  | 90+ |  |  |
|  |  |  |  |  |  | Days |  |  | Days |  |  | Days |  |  |
|  |  |  |  |  |  | Past |  |  | Past |  |  | Past |  |  |
2010 (Millions) |  |  | Current |  |  | Due |  |  | Due |  |  | Due |  |  | Total
Cardmember |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Card Services |  | $ | 50,508 |  | $ | 282 |  | $ | 226 |  | $ | 549 |  | $ | 51,565
International Card |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Services |  |  | 9,044 |  |  | 66 |  |  | 48 |  |  | 97 |  |  | 9,255
Cardmember |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Receivables: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Card Services |  | $ | 18,864 |  | $ | 104 |  | $ | 55 |  | $ | 132 |  | $ | 19,155
International Card |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Services(a) |  |  | (b) |  |  | (b) |  |  | (b) |  |  | 64 |  |  | 6,673
Global Commercial |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
| Services(a) |  |  | (b) |  |  | (b) |  |  | (b) |  |  | 96 |  |  | 11,259
For c ardmember receivables in International Card Services (ICS) and Global Commercial Services (GCS), delinquency data is tracked based on days past billing status rather than days past due. A cardmember account is considered 90 days past billing if payment has not been received within 90 days of the cardmember's billing statement date. In addition, if the Company initiates collection procedures on an account prior to the account becoming 90 days past billing the associated cardmember receivable balance is considered as 90 days past billing. These amounts are shown above as 90+ Days Past Due for presentation purposes. Historically, data for periods prior to 90 days past billing are not available due to system constraints. Therefore, it has not been utilized for risk management purposes. The balances that are current to 89 days past due can be derived as the difference between the T otal and the 90+ Days Past Due balances.
Credit quality indicators for loans and receivables | The following table s present the key credit quality indicators as of or for the years ended December 31:
|  | 2011 |  | 2010 |
|  | Net Write-Off Rate |  |  |  | Net Write-Off Rate |  |  |
|  |  |  |  |  | 30 Days |  |  |  |  |  | 30 Days |
|  |  |  | Principal, |  | Past Due |  |  |  | Principal, |  | Past Due |
|  | Principal |  | Interest, & |  | as a % of |  | Principal |  | Interest, & |  | as a % of |
|  | Only | (a) | Fees | (a) | Total |  | Only | (a) | Fees | (a) | Total |
U.S. Card Services ― Cardmember Loans |  | 2.9 | % | 3.2 | % | 1.4 | % | 5.8 | % | 6.3 | % | 2.1 | %
International Card Services ― Cardmember Loans |  | 2.7 | % | 3.3 | % | 1.7 | % | 4.6 | % | 5.5 | % | 2.3 | %
U.S. Card Services ― Cardmember Receivables |  | 1.7 | % | 1.9 | % | 1.9 | % | 1.6 | % | 1.8 | % | 1.5 | %
|  |  |  |  |  | 2011 |  | 2010 |
|  |  |  |  |  | Net Loss |  |  |  | Net Loss |  |  |
|  |  |  |  |  | Ratio as |  | 90 Days |  | Ratio as |  | 90 Days |
|  |  |  |  |  | a % of |  | Past Billing |  | a % of |  | Past Billing |
|  |  |  |  |  | Charge |  | as a % of |  | Charge |  | as a % of |
|  |  |  |  |  | Volume |  | Receivables |  | Volume | (b) | Receivables |
International Card Services ― Cardmember Receivables |  |  |  |  |  | 0.15 | % | 0.9 | % | 0.24 | % | 1.0 | %
Global Commercial Services ― Cardmember Receivables |  |  |  |  |  | 0.06 | % | 0.8 | % | 0.11 | % | 0.8 | %
The Company presents a net write-off rate based on principal losses only (i.e. excluding interest and/or fees) to be consistent with industry convention. In addition, because the Company's practice is to include uncollectible interest and/or fees as part of its total provision for losses, a net write-off rate including principal, interest and/or fees is also presented. In the first quarter of 2010, the Company modified its reporting in th e ICS and GCS segments to write off past due cardmember receivables when 180 days past due or earlier, versus its prior methodology of writing them off when 360 days past billing or earlier. This change is consistent with bank regulatory guidance and the write-off methodology for the cardmember receivables portfolio in the U.S. Card Services (USCS) segment. This change resulted in approximately $60 million and $48 million of net write-offs for ICS and GCS, respectively, being included in the first quarter of 2010, which increased the net loss ratios and decreased the 90 days past billing metrics for these segments, but did not have a substantial impact on provisions for losses.
Impaired cardmember loans and receivables | The following tables provide additional information with respect to th e Company's impaired cardmember loans and receivables as of December 31:
|  |  | Loans over |  |  |  |  |  |  |  |  |  |  |  |
|  |  | 90 Days |  |  |  |  |  | Loans & |  |  | Total |  |  |
|  |  | Past Due |  |  | Non- |  |  | Receivables |  |  | Impaired |  |  | Unpaid |  |  |  |
(Millions) |  | & Accruing |  |  | Accrual |  |  | Modified |  |  | Loans & |  |  | Principal |  |  | Allowance |
2011 |  |  | Interest | (a) |  | Loans | (b) |  | as a TDR | (c)(d) |  | Receivables |  |  | Balance | (e) |  | for TDRs | (f)
U.S. Card Services ― Cardmember Loans |  | $ | 64 |  | $ | 529 |  | $ | 736 |  | $ | 1,329 |  | $ | 1,268 |  | $ | 174 |
International Card Services ― Cardmember Loans |  |  | 67 |  |  | 6 |  |  | 8 |  |  | 81 |  |  | 80 |  |  | 2 |
U.S. Card Services ― Cardmember Receivables |  |  | ― |  |  | ― |  |  | 174 |  |  | 174 |  |  | 165 |  |  | 118 |
Total(g) |  | $ | 131 |  | $ | 535 |  | $ | 918 |  | $ | 1,584 |  | $ | 1,513 |  | $ | 294 |
|  |  | Loans over |  |  |  |  |  |  |  |  |  |  |  |
|  |  | 90 Days |  |  |  |  |  | Loans & |  |  | Total |  |  |
|  |  | Past Due |  |  | Non- |  |  | Receivables |  |  | Impaired |  |  | Unpaid |  |  |  |
(Millions) |  | & Accruing |  |  | Accrual |  |  | Modified |  |  | Loans & |  |  | Principal |  |  | Allowance |
2010 |  |  | Interest | (a) |  | Loans | (b) |  | as a TDR | (c) |  | Receivables |  |  | Balance | (e) | for TDRs | (f)
U.S. Card Services ― Cardmember Loans |  | $ | 90 |  | $ | 628 |  | $ | 1,076 |  | $ | 1,794 |  | $ | 1,704 |  | $ | 274 |
International Card Services ― Cardmember Loans |  |  | 95 |  |  | 8 |  |  | 11 |  |  | 114 |  |  | 112 |  |  | 5 |
U.S. Card Services ― Cardmember Receivables |  |  | ― |  |  | ― |  |  | 114 |  |  | 114 |  |  | 109 |  |  | 63 |
Total(g) |  | $ | 185 |  | $ | 636 |  | $ | 1,201 |  | $ | 2,022 |  | $ | 1,925 |  | $ | 342 |
The Company's policy is generally to accrue inte rest through the date of charge-off (at 180 days past due). The Company establishes reserves for interest that the Company believes will not be collected. Non-accrual loans not in modification programs include certain cardmember loans placed with outside collection agencies for which the Company has ceased accruing interest. The Company's policy is not to resume the accrual of interest on these loans. Payments received are applied against the recorded loan balance. Interest income is recognized on a cash basis for any payments received afte r the loan balance has been paid in full. The total loans and receivable s modified as a TDR include $410 million and $655 mil lion that are non-accrual and $4 million and $7 million that are past due 90 days and still accruing interest as of December 31, 2011 and 2010, respectively. These amounts are excluded from the previous two columns. During the third quarter of 2011, t he Company reassessed all cardmember loans and receivables modifications that occurred on or after January 1, 2011, to determine whether any such modifications met the definition of a TDR under new GAAP effective July 1, 2011. As a result, in the third quarter of 2011 the Company began classifying its short-term settlement programs as TDRs which had an outstanding balance of $5.8 million and associated reserve s for losses of $3.7 million. Unpaid principal balance consists of cardmember charges billed and excludes other amounts charged directly by the Company such as int erest and fees. R epresents the reserve for losses for TDRs, which are evaluated separately for impairment. The Company records a reserve for losses for all impaired loans. Refer to Cardmember Loans Evaluated Separately and Collectively for Impairment in Note 5 for further discussion of the reserve for losses on loans over 90 days past due and accruing interest and non-accrual loans, which are evaluated collectively for impairment. These disclosures are not significant for cardmember receivables in ICS and GCS.
Interest income recognized and average balance of impaired cardmember loans and receivables | The following table provides information with respect to the Company's interest income recognized and average balances of impaired cardmember loans and receivables for the years ended December 31:
|  | 2011
|  |  | Interest |  |  |
|  |  | Income |  |  | Average
(Millions) |  |  | Recognized |  |  | Balance
U.S. Card Services ― Cardmember Loans |  | $ | 67 |  | $ | 1,498
International Card Services ― Cardmember Loans |  |  | 26 |  |  | 98
U.S. Card Services ― Cardmember Receivables |  |  | ― |  |  | 145
Total(a) |  | $ | 93 |  | $ | 1,741
|  | 2010
|  |  | Interest |  |  |
|  |  | Income |  |  | Average
(Millions) |  |  | Recognized |  |  | Balance
U.S. Card Services ― Cardmember Loans |  | $ | 101 |  | $ | 2,256
International Card Services ― Cardmember Loans |  |  | 30 |  |  | 142
U.S. Card Services ― Cardmember Receivables |  |  | ― |  |  | 110
Total(a) |  | $ | 131 |  | $ | 2,508
These disclosures are not significant for cardmember receivables in ICS and GCS.
Troubled debt restructurings | The following table provides additional information with respect to the cardmember loans and receivables modified as TDRs during the year ended December 31, 2011:
|  |  |  |  |  | Aggregated |  |  | Aggregated
|  |  |  |  |  | Pre- |  |  | Post-
|  |  |  |  | Modification |  | Modification
(Accounts in thousands, |  | Number of |  | Outstanding |  | Outstanding
| Dollars in millions) |  | Accounts |  |  | Balances(a)(b) |  |  | Balances(a)(b)
Troubled Debt |  |  |  |  |  |  |  |
Restructurings: |  |  |  |  |  |  |  |
U.S. Card Services ― |  |  |  |  |  |  |  |
| Cardmember Loans |  | 147 |  | $ | 1,110 |  | $ | 1,064
U.S. Card Services ― |  |  |  |  |  |  |  |
| Cardmember Receivables |  | 50 |  |  | 402 |  |  | 388
Total(c) |  | 197 |  | $ | 1,512 |  | $ | 1,452
The outstanding balance includes principal and accrued interest. The difference between the pre- and post-modification outstanding balances is solely attributable to amounts charged off for cardmember loans and receivables being resolved through the Company's short-term settlement programs. These disclosures are not significant for cardmember loans modifications in ICS.
Troubled debt restructurings that subsequently defaulted | The following table provides information with respect to the cardmember loans and receivables modified as TDRs on which there was a default within 12 months of modification during the year ended December 31, 2011. A cardmember will default from a modification program after between one and up to three consecutive missed payments, depending on the terms of the modification program.
|  |  |  |  |  |  | Aggregated
|  |  |  |  |  | Outstanding
(Accounts in thousands, |  |  | Number of |  |  | Balances
| Dollars in millions) |  |  | Accounts |  | Upon Default(a)
Troubled Debt Restructurings |  |  |  |  |  |
That Subsequently Defaulted: |  |  |  |  |  |
U.S. Card Services ― |  |  |  |  |  |
| Cardmember Loans |  |  | 46 |  | $ | 343
U.S. Card Services ― |  |  |  |  |  |
| Cardmember Receivables |  |  | 6 |  |  | 45
Total(b) |  |  | 52 |  | $ | 388
The outstanding balance includes principal and accrued interest. During the periods presented, the ICS cardmember loan modifications on which there was a default from the modification program within 12 months of modification were not significant.

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- Definition Tabular disclosure of financing receivables by credit quality indicator. The credit quality indicator is a statistic about the credit quality of financing receivables. Examples include, but not limited to, consumer credit risk scores, credit-rating-agency ratings, an entity's internal credit risk grades, loan-to-value ratios, collateral, collection experience and other internal metrics. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=6965416&loc=SL6953659-111524 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 55 -Paragraph 19 -URI http://asc.fasb.org/extlink&oid=6951925&loc=SL6953803-111525 + Details
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