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Accounts Receivable and Loans (Tables)

12 Months Ended

Dec. 31, 2015

Table Text Block [Abstract]

Card Member receivables segment detail

Accounts receivable by segment as of December 31, 2015 and 2014 consisted of:

(Millions)		2015			2014
U.S. Card Services (a)		$	23,255		$	22,468
International Card Services			6,975			7,653
Global Commercial Services (b)			13,777			14,583
Global Network & Merchant Services (c)			126			147
Card Member receivables (d)			44,133			44,851
Less: Reserve for losses			462			465
Card Member receivables, net		$	43,671		$	44,386
Other receivables, net (e)		$	3,024		$	2,614

• Includes $6.6 billion and $7.0 billion of gross Card Member receivables available to settle obligations of a consolidated VIE as of December 31, 2015 and 2014, respectively.
• Includes $319 million and $636 million due from airlines, of which Delta Air Lines (Delta) comprises $257 million and $606 million as of December 31, 2015 and 2014, respectively.
• Includes receivables primarily related to the Company’s International Currency Card portfolios.
• Includes approximately $11.9 billion and $13.3 billion of Card Member receivables outside the United States as of December 31, 2015 and 2014, respectively.
• Other receivables primarily represent amounts related to (i) certain merchants for billed discount revenue and (ii) GNS partner banks for items such as royalty and franchise fees. Other receivables are presented net of reserves for losses of $43 million and $61 million as of December 31, 2015 and 2014, respectively.

Card Member loans segment detail

Loans by segment as of December 31, 2015 and 2014 consisted of:

(Millions)			2015			2014
U.S. Card Services(a)		$	51,446		$	62,592
International Card Services			7,072			7,744
Global Commercial Services			55			49
Card Member loans			58,573			70,385
Less: Reserve for losses			1,028			1,201
Card Member loans, net		$	57,545		$	69,184
Other loans, net(b)		$	1,254		$	920

• Includes approximately $23.6 billion and $30.1 billion of gross Card Member loans available to settle obligations of a consolidated VIE as of December 31, 2015 and 2014, respectively.
• Other loans primarily represent loans to merchants. Other loans are presented net of reserves for losses of $20 million and $12 million as of December 31, 2015 and 2014, respectively.

Aging of Card Member loans and receivables

The following table presents the aging of Card Member loans and receivables as of December 31, 2015 and 2014:

							30-59			60-89			90+
							Days			Days			Days
							Past			Past			Past
2015 (Millions)				Current			Due			Due			Due			Total
Card Member Loans:
U.S. Card Services			$	50,929		$	154		$	112		$	251		$	51,446
International Card Services				6,961			34			25			52			7,072
Card Member Receivables:
U.S. Card Services			$	22,896		$	118		$	73		$	168		$	23,255
International Card Services				6,875			28			21			51			6,975
Global Commercial Services (a)				(b)			(b)			(b)			124			13,777
							30-59			60-89			90+
							Days			Days			Days
							Past			Past			Past
2014 (Millions)				Current			Due			Due			Due			Total
Card Member Loans:
U.S. Card Services			$	61,995		$	179		$	128		$	290		$	62,592
International Card Services				7,621			39			27			57			7,744
Card Member Receivables:
U.S. Card Services			$	22,096		$	129		$	72		$	171		$	22,468
International Card Services				7,557			29			20			47			7,653
Global Commercial Services(a)				(b)			(b)			(b)			120			14,583

• For Card Member receivables in GCS, delinquency data is tracked based on days past billing status rather than days past due. A Card Member account is considered 90 days past billing if payment has not been received within 90 days of the Card Member’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 Card Member receivable balance is classified as 90 days past billing. These amounts are shown above as 90+ Days Past Due for presentation purposes.
• Delinquency data for periods other than 90 days past billing is not available due to system constraints. Therefore, such data 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 Total and the 90+ Days Past Due balances.

Credit quality indicators for loans and receivables

The following tables present the key credit quality indicators as of or for the years ended December 31:

		2015						2014
		Net Write-Off Rate						Net Write-Off Rate
						30+						30+
				Principal,		Days Past Due				Principal,		Days Past Due
		Principal		Interest, &		as a % of		Principal		Interest, &		as a % of
		Only	(a)	Fees	(a)	Total		Only	(a)	Fees	(a)	Total
Card Member Loans:
U.S. Card Services		1.4	%	1.6	%	1.0	%	1.5	%	1.7	%	1.0	%
International Card Services		1.9	%	2.4	%	1.6	%	2.0	%	2.4	%	1.6	%
Card Member Receivables:
U.S. Card Services		1.7	%	1.9	%	1.5	%	1.6	%	1.8	%	1.7	%
International Card Services		2.0	%	2.2	%	1.4	%	1.9	%	2.1	%	1.3	%
						2015				2014
						Net Loss				Net Loss
						Ratio as		90+		Ratio as		90+
						a % of		Days Past Billing		a % of		Days Past Billing
						Charge		as a % of		Charge		as a % of
						Volume		Receivables		Volume		Receivables
Card Member Receivables:
Global Commercial Services						0.09	%	0.9	%	0.09	%	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 considers uncollectible interest and/or fees in estimating its reserves for credit losses, a net write-off rate including principal, interest and/or fees is also presented. The year ended December 31, 2015, reflects the impact of a change in the timing of charge-offs for Card Member loans and receivables in certain modification programs from 180 days past due to 120 days past due, which was fully recognized during the three months ended March 31, 2015.

Impaired Card Member loans and receivables

The following tables provide additional information with respect to the Company’s impaired Card Member loans and receivables. Impaired Card Member loans are not significant for GCS and impaired Card Member receivables are not significant for International Card Services (ICS) and GCS; therefore, these segments are not included in the following tables.

		As of December 31, 2015
		Over 90 days						Accounts Classified as a TDR (c)
		Past Due &														Total			Unpaid
		Accruing			Non-							Out of				Impaired			Principal			Allowance
(Millions)		Interest		(a)	Accruals		(b)	In Program		(d)		Program		(e)		Balance			Balance			for TDRs
Card Member Loans:
U.S. Card Services		$	164		$	150		$	172			$	107			$	593		$	548		$	53
International Card Services			52			―			―				―				52			51			―
Card Member Receivables:
U.S. Card Services			―			―			27				6				33			33			20
Total		$	216		$	150		$	199			$	113			$	678		$	632		$	73
		As of December 31, 2014
		Over 90 days
		Past Due &										Total				Unpaid
		Accruing			Non-			In Program				Impaired				Principal			Allowance
(Millions)		Interest		(a)	Accruals		(b)	TDRs		(c)(d)		Balance				Balance			for TDRs
Card Member Loans:
U.S. Card Services		$	161		$	241		$	286			$	688			$	646		$	67
International Card Services			57			―			―				57				56			―
Card Member Receivables:
U.S. Card Services			―			―			48				48				48			35
Total		$	218		$	241		$	334			$	793			$	750		$	102
		As of December 31, 2013
		Over 90 days
		Past Due &										Total				Unpaid
		Accruing			Non-			In Program				Impaired				Principal			Allowance
(Millions)		Interest		(a)	Accruals		(b)	TDRs		(c)(d)		Balance				Balance			for TDRs
Card Member Loans:
U.S. Card Services		$	167		$	294		$	351			$	812			$	775		$	78
International Card Services			54			4			5				63				62			―
Card Member Receivables:
U.S. Card Services			―			―			50				50				49			38
Total		$	221		$	298		$	406			$	925			$	886		$	116

• The Company’s policy is generally to accrue interest through the date of write-off (typically 180 days past due). The Company establishes reserves for interest that it believes will not be collected. Amounts presented exclude loans classified as a TDR.
• Non-accrual loans not in modification programs primarily include certain Card Member loans placed with outside collection agencies for which the Company has ceased accruing interest.
• Accounts classified as a TDR include $20 million, $26 million and $29 million that are over 90 days past due and accruing interest and $18 million, $34 million and $43 million that are non-accrual as of December 31, 2015, 2014 and 2013, respectively.
• In Program TDRs include Card Member accounts that are currently enrolled in a modification program.
• Out of Program TDRs include $84 million of Card Member accounts that have successfully completed a modification program and $29 million of Card Member accounts that were not in compliance with the terms of the modification programs.

The following table provides information with respect to the Company’s average balances of, and interest income recognized from, impaired Card Member loans and the average balances of impaired Card Member receivables for the years ended December 31:

			Average		Interest Income
2015 (Millions)			Balance		Recognized
Card Member Loans:
U.S. Card Services		$	673		$	59
International Card Services			54			14
Card Member Receivables:
U.S. Card Services			33			―
Total		$	760		$	73
			Average		Interest Income
2014 (Millions)			Balance		Recognized
Card Member Loans:
U.S. Card Services		$	750		$	49
International Card Services			62			16
Card Member Receivables:
U.S. Card Services			47			―
Total		$	859		$	65
			Average		Interest Income
2013 (Millions)			Balance		Recognized
Card Member Loans:
U.S. Card Services		$	948		$	46
International Card Services			67			16
Card Member Receivables:
U.S. Card Services			81			―
Total		$	1,096		$	62

Troubled debt restructurings

The following table provides additional information with respect to the U.S. Card Services (USCS) Card Member loans and receivables modified as TDRs for the years ended December 31, 2015, 2014 and 2013. The ICS Card Member loans and receivables modifications were not significant and the Company does not offer modification programs for its GCS Card Member receivables; therefore, these segments are not included in the following TDR disclosures.

			Number of		Outstanding			Average Interest		Average Payment
			Accounts			Balances(a)		Rate Reduction		Term Extensions
2015			(in thousands)			($ in millions)		(% points)		(# of months)
Troubled Debt Restructurings:
	Card Member Loans		40		$	285		9		(b)
	Card Member Receivables		12			147		(c)		12
Total			52		$	432
			Number of		Outstanding			Average Interest		Average Payment
			Accounts			Balances(a)		Rate Reduction		Term Extensions
2014			(in thousands)			($ in millions)		(% points)		(# of months)
Troubled Debt Restructurings:
	Card Member Loans		46		$	342		10		(b)
	Card Member Receivables		15			176		(c)		12
Total			61		$	518
			Number of		Outstanding			Average Interest		Average Payment
			Accounts			Balances(a)		Rate Reduction		Term Extensions
2013			(in thousands)			($ in millions)		(% points)		(# of months)
Troubled Debt Restructurings:
	Card Member Loans		60		$	448		10		(b)
	Card Member Receivables		20			247		(c)		12
Total			80		$	695

• Represents the outstanding balance immediately prior to modification. The outstanding balance includes principal, fees and accrued interest on Card Member loans, and principal and fees on Card Member receivables. For the year ended December 31, 2013, in certain modifications, the principal balance was reduced in the aggregate by $4 million. For the years ended December 31, 2015 and 2014, modifications did not reduce the principal balance.
• For Card Member loans, there have been no payment term extensions.
• The Company does not offer interest rate reduction programs for Card Member receivables as the receivables are non-interest bearing.

Troubled debt restructurings that subsequently defaulted

The following table provides information for the years ended December 31, 2015, 2014 and 2013, with respect to the USCS Card Member loans and receivables modified as TDRs that subsequently defaulted within 12 months of modification. A Card Member is considered in default of a modification program after one and up to two consecutive missed payments, depending on the terms of the modification program. For all Card Members that defaulted from a modification program, the probability of default is factored into the reserves for Card Member loans and receivables.

						Outstanding
				Number of		Balances
				Accounts		Upon Default
2015				(thousands)		(millions)(a)
Troubled Debt Restructurings That Subsequently Defaulted:
	Card Member Loans			8		$	52
	Card Member Receivables			3			5
Total				11		$	57
						Outstanding
				Number of		Balances
				Accounts		Upon Default
2014				(thousands)(b)		(millions)(a)
Troubled Debt Restructurings That Subsequently Defaulted:
	Card Member Loans			8		$	52
	Card Member Receivables			3			12
Total				11		$	64
						Outstanding
				Number of		Balances
				Accounts		Upon Default
2013				(thousands)		(millions)(a)(b)
Troubled Debt Restructurings That Subsequently Defaulted:
	Card Member Loans			18		$	141
	Card Member Receivables			3			25
Total				21		$	166

• The outstanding balances upon default include principal, fees and accrued interest on Card Member loans, and principal and fees on Card Member receivables.
• The number of accounts and outstanding balances upon default have been revised to reflect the exclusion of written off accounts, which are not material.

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