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Loans and Accounts Receivable | 9 Months Ended
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Sep. 30, 2019
Loans Notes Trade And Other Receivables Disclosure [Abstract] |
Loans and Accounts Receivable | Loans and Accounts Receivable Our lending and charge payment card products result in the generation of Card Member loans and Card Member receivables. Card Member loans by segment and Other loans as of September 30, 2019 and December 31, 2018 consisted of:
(Millions) |  | 2019 |  | 2018
Global Consumer Services Group (a) |  | $ | 69,810 |  |  | $ | 69,458 |
Global Commercial Services |  | 13,845 |  |  | 12,396 |
Card Member loans |  | 83,655 |  |  | 81,854 |
Less: Reserve for losses |  | 2,232 |  |  | 2,134 |
Card Member loans, net |  | $ | 81,423 |  |  | $ | 79,720 |
Other loans, net (b) |  | $ | 4,340 |  |  | $ | 3,676 |
(a)Includes approximately $31.1 billion and $33.2 billion of gross Card Member loans available to settle obligations of a consolidated variable interest entity (VIE) as of September 30, 2019 and December 31, 2018, respectively. (b)Other loans primarily represent consumer and commercial non-card financing products. Other loans are presented net of reserves for losses of $140 million and $124 million as of September 30, 2019 and December 31, 2018, respectively. Card Member receivables by segment and Other receivables as of September 30, 2019 and December 31, 2018 consisted of:
(Millions) |  | 2019 |  | 2018
Global Consumer Services Group (a) |  | $ | 20,684 |  |  | $ | 21,455 |
Global Commercial Services |  | 35,941 |  |  | 34,438 |
Card Member receivables |  | 56,625 |  |  | 55,893 |
Less: Reserve for losses |  | 615 |  |  | 573 |
Card Member receivables, net |  | $ | 56,010 |  |  | $ | 55,320 |
Other receivables, net (b) |  | $ | 2,846 |  |  | $ | 2,907 |
(a)Includes $7.5 billion and $8.5 billion of gross Card Member receivables available to settle obligations of a consolidated VIE as of September 30, 2019 and December 31, 2018, respectively. (b)Other receivables primarily represent amounts related to (i) Global Network Services partners for items such as royalty and franchise fees, (ii) tax-related receivables, (iii) discount revenue billed to certain merchants, and (iv) loyalty coalition partners for points issued, as well as program participation and servicing fees. Other receivables are presented net of reserves for losses of $22 million and $25 million as of September 30, 2019 and December 31, 2018, respectively. Card Member Loans and Card Member Receivables Aging Generally, a Card Member account is considered past due if payment is not received within 30 days after the billing statement date. The following table presents the aging of Card Member loans and receivables as of September 30, 2019 and December 31, 2018:
2019 (Millions) |  | Current |  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | 90+ Days Past Due |  | Total
Card Member Loans: |  |  |  |  |  |  |  |  |  |
Global Consumer Services Group |  | $ | 68,720 |  |  | $ | 317 |  |  | $ | 238 |  |  | $ | 535 |  |  | $ | 69,810 |
Global Commercial Services |  |  |  |  |  |  |  |  |  |
Global Small Business Services |  | 13,632 |  |  | 54 |  |  | 38 |  |  | 85 |  |  | 13,809 |
Global Corporate Payments (a) |  | (b) |  | (b) |  | (b) |  | — |  |  | 36 |
Card Member Receivables: |  |  |  |  |  |  |  |  |  |
Global Consumer Services Group |  | 20,405 |  |  | 89 |  |  | 58 |  |  | 132 |  |  | 20,684 |
Global Commercial Services |  |  |  |  |  |  |  |  |  |
Global Small Business Services |  | $ | 17,090 |  |  | $ | 101 |  |  | $ | 59 |  |  | $ | 129 |  |  | $ | 17,379 |
Global Corporate Payments (a) |  | (b) |  | (b) |  | (b) |  | $ | 125 |  |  | $ | 18,562 |
2018 (Millions) |  | Current |  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | 90+ Days Past Due |  | Total
Card Member Loans: |  |  |  |  |  |  |  |  |  |
Global Consumer Services Group |  | $ | 68,442 |  |  | $ | 290 |  |  | $ | 220 |  |  | $ | 506 |  |  | $ | 69,458 |
Global Commercial Services |  |  |  |  |  |  |  |  |  |
Global Small Business Services |  | 12,195 |  |  | 51 |  |  | 32 |  |  | 73 |  |  | 12,351 |
Global Corporate Payments (a) |  | (b) |  | (b) |  | (b) |  | — |  |  | 45 |
Card Member Receivables: |  |  |  |  |  |  |  |  |  |
Global Consumer Services Group |  | 21,207 |  |  | 80 |  |  | 50 |  |  | 118 |  |  | 21,455 |
Global Commercial Services |  |  |  |  |  |  |  |  |  |
Global Small Business Services |  | $ | 16,460 |  |  | $ | 101 |  |  | $ | 53 |  |  | $ | 114 |  |  | $ | 16,728 |
Global Corporate Payments (a) |  | (b) |  | (b) |  | (b) |  | $ | 129 |  |  | $ | 17,710 |
(a)For Global Corporate Payments Card Member loans and receivables in Global Commercial Services (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 we initiate collection procedures on an account prior to the account becoming 90 days past billing, the associated Card Member loan or receivable balance is classified as 90 days past billing. These amounts are shown above as 90+ Days Past Due for presentation purposes. See also (b). (b)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 Card Member Loans and Receivables The following tables present the key credit quality indicators as of or for the nine months ended September 30:
|  | 2019 |  |  |  |  |  | 2018 |  |  |  |
|  | Net Write-Off Rate |  |  |  |  |  | Net Write-Off Rate |  |  |  |
|  | Principal Only(a) |  | Principal, Interest & Fees(a) |  | 30+ Days Past Due as a % of Total |  | Principal Only(a) |  | Principal, Interest & Fees(a) |  | 30+ Days Past Due as a % of Total
Card Member Loans: |  |  |  |  |  |  |  |  |  |  |  |
Global Consumer Services Group |  | 2.3 | % |  | 2.8 | % |  | 1.6 | % |  | 2.1 | % |  | 2.5 | % |  | 1.4 | %
Global Small Business Services |  | 1.8 | % |  | 2.1 | % |  | 1.3 | % |  | 1.7 | % |  | 2.0 | % |  | 1.1 | %
Card Member Receivables: |  |  |  |  |  |  |  |  |  |  |  |
Global Consumer Services Group |  | 1.7 | % |  | 1.8 | % |  | 1.4 | % |  | 1.7 | % |  | 1.8 | % |  | 1.2 | %
Global Small Business Services |  | 1.9 | % |  | 2.1 | % |  | 1.7 | % |  | 1.8 | % |  | 2.1 | % |  | 1.4 | %
|  | 2019 |  |  |  | 2018 |  |
|  | Net Loss Ratio as a % of Charge Volume |  | 90+ Days Past Billing as a % of Receivables |  | Net Loss Ratio as a % of Charge Volume |  | 90+ Days Past Billing as a % of Receivables
Card Member Receivables: |  |  |  |  |  |  |  |
Global Corporate Payments |  | 0.08 | % |  | 0.7 | % |  | 0.11 | % |  | 0.8 | %
(a)We present 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 we consider uncollectible interest and/or fees in estimating our reserves for credit losses, a net write-off rate including principal, interest and/or fees is also presented. Impaired Card Member Loans and Receivables Impaired Card Member loans and receivables are individual larger balance or homogeneous pools of smaller balance loans and receivables for which it is probable that we will be unable to collect all amounts due according to the original contractual terms of the Card Member agreement. In certain cases, these Card Member loans and receivables are included in one of our various Troubled Debt Restructuring (TDR) modification programs. Impaired Card Member loans and receivables outside the U.S. are not significant as of September 30, 2019 and December 31, 2018; therefore, such loans and receivables are not included in the following tables unless otherwise noted. The following tables provide additional information with respect to our impaired Card Member loans and receivables as of September 30, 2019 and December 31, 2018:
|  | As of September 30, 2019 |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  | Accounts Classified as a TDR (c) |  |  |  |  |  |  |  |
2019 (Millions) |  | Over 90 days Past Due & Accruing Interest(a) |  | Non- Accruals(b) |  | In Program(d) |  | Out of Program(e) |  | Total Impaired Balance |  | Unpaid Principal Balance |  | Allowance for TDRs
Card Member Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Global Consumer Services Group (f) |  | $ | 347 |  |  | $ | 272 |  |  | $ | 447 |  |  | $ | 158 |  |  | $ | 1,224 |  |  | $ | 1,095 |  |  | $ | 118 |
Global Commercial Services |  | 45 |  |  | 54 |  |  | 86 |  |  | 35 |  |  | 220 |  |  | 207 |  |  | 20 |
Card Member Receivables: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Global Consumer Services Group |  | — |  |  | — |  |  | 48 |  |  | 14 |  |  | 62 |  |  | 62 |  |  | 3 |
Global Commercial Services |  | — |  |  | — |  |  | 95 |  |  | 28 |  |  | 123 |  |  | 122 |  |  | 5 |
Total |  | $ | 392 |  |  | $ | 326 |  |  | $ | 676 |  |  | $ | 235 |  |  | $ | 1,629 |  |  | $ | 1,486 |  |  | $ | 146 |
|  | As of December 31, 2018 |  |  |  |  |  |  |  |  |  |  |  |
|  |  |  |  |  | Accounts Classified as a TDR (c) |  |  |  |  |  |  |  |
2018 (Millions) |  | Over 90 days Past Due & Accruing Interest(a) |  | Non- Accruals(b) |  | In Program(d) |  | Out of Program(e) |  | Total Impaired Balance |  | Unpaid Principal Balance |  | Allowance for TDRs
Card Member Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Global Consumer Services Group (f) |  | $ | 344 |  |  | $ | 236 |  |  | $ | 313 |  |  | $ | 131 |  |  | $ | 1,024 |  |  | $ | 923 |  |  | $ | 80 |
Global Commercial Services |  | 43 |  |  | 43 |  |  | 59 |  |  | 29 |  |  | 174 |  |  | 161 |  |  | 14 |
Card Member Receivables: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Global Consumer Services Group |  | — |  |  | — |  |  | 29 |  |  | 13 |  |  | 42 |  |  | 42 |  |  | 2 |
Global Commercial Services |  | — |  |  | — |  |  | 61 |  |  | 25 |  |  | 86 |  |  | 86 |  |  | 5 |
Total |  | $ | 387 |  |  | $ | 279 |  |  | $ | 462 |  |  | $ | 198 |  |  | $ | 1,326 |  |  | $ | 1,212 |  |  | $ | 101 |
(a)Our policy is generally to accrue interest through the date of write-off (typically 180 days past due). We establish reserves for interest that we believe will not be collected. Amounts presented exclude Card Member loans classified as a TDR. (b)Non-accrual loans not in modification programs primarily include certain Card Member loans placed with outside collection agencies for which we have ceased accruing interest. Amounts presented exclude Card Member loans classified as a TDR. (c)Accounts classified as a TDR include $21 million and $17 million that are over 90 days past due and accruing interest and $9 million and $6 million that are non-accruals as of September 30, 2019 and December 31, 2018, respectively. (d)In Program TDRs include Card Member accounts that are currently enrolled in a modification program. (e)Out of Program TDRs include $174 million and $148 million of Card Member accounts that have successfully completed a modification program and $61 million and $50 million of Card Member accounts that were not in compliance with the terms of the modification programs as of September 30, 2019 and December 31, 2018, respectively. (f)Global Consumer Services Group (GCSG) includes balances outside the U.S. of $80 million and $69 million that are over 90 days and accruing interest and $67 million and $68 million in unpaid principal as of September 30, 2019 and December 31, 2018, respectively. The following table provides information with respect to our average balances and interest income recognized from impaired Card Member loans and the average balances of impaired Card Member receivables for the three and nine months ended September 30, 2019 and 2018:
|  | Three Months Ended September 30, 2019 |  |  |  | Nine Months Ended September 30, 2019 |  |
(Millions) |  | Average Balance |  | Interest Income Recognized |  | Average Balance |  | Interest Income Recognized
Card Member Loans: |  |  |  |  |  |  |  |
Global Consumer Services Group |  | $ | 1,170 |  |  | $ | 34 |  |  | $ | 1,113 |  |  | $ | 98 |
Global Commercial Services |  | 210 |  |  | 6 |  |  | 196 |  |  | 18 |
Card Member Receivables: |  |  |  |  |  |  |  |
Global Consumer Services Group |  | 58 |  |  | — |  |  | 52 |  |  | — |
Global Commercial Services |  | 118 |  |  | — |  |  | 105 |  |  | — |
Total |  | $ | 1,556 |  |  | $ | 40 |  |  | $ | 1,466 |  |  | $ | 116 |
|  | Three Months Ended September 30, 2018 |  |  |  | Nine Months Ended September 30, 2018 |  |
(Millions) |  | Average Balance |  | Interest Income Recognized |  | Average Balance |  | Interest Income Recognized
Card Member Loans: |  |  |  |  |  |  |  |
Global Consumer Services Group |  | $ | 882 |  |  | $ | 27 |  |  | $ | 841 |  |  | $ | 79 |
Global Commercial Services |  | 153 |  |  | 5 |  |  | 144 |  |  | 16 |
Card Member Receivables: |  |  |  |  |  |  |  |
Global Consumer Services Group |  | 35 |  |  | — |  |  | 31 |  |  | — |
Global Commercial Services |  | 77 |  |  | — |  |  | 70 |  |  | — |
Total |  | $ | 1,147 |  |  | $ | 32 |  |  | $ | 1,086 |  |  | $ | 95 |
Card Member Loans and Receivables Modified as TDRs The following table provides additional information with respect to Card Member loans and receivables modified as TDRs for the three and nine months ended September 30, 2019 and 2018:
|  | Three Months Ended September 30, 2019 |  |  |  |  |  |  |  | Nine Months Ended September 30, 2019 |  |  |  |  |  |
|  | Number of Accounts (thousands) |  | Outstanding Balances (millions)(a) |  | Average Interest Rate Reduction (% Points) |  | Average Payment Term Extension (# of Months) |  | Number of Accounts (thousands) |  | Outstanding Balances (millions)(a) |  | Average Interest Rate Reduction (% Points) |  | Average Payment Term Extension (# of Months)
Troubled Debt Restructurings: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Card Member Loans |  | 21 |  |  | $ | 160 |  |  | 13 |  |  | (b) |  | 55 |  |  | $ | 425 |  |  | 13 |  |  | (b)
Card Member Receivables |  | 2 |  |  | 54 |  |  | (c) |  | 27 |  | 6 |  |  | 144 |  |  | (c) |  | 27
Total |  | 23 |  |  | $ | 214 |  |  |  |  |  |  | 61 |  |  | $ | 569 |  |  |  |  |
|  | Three Months Ended September 30, 2018 |  |  |  |  |  |  |  | Nine Months Ended September 30, 2018 |  |  |  |  |  |
|  | Number of Accounts (thousands) |  | Outstanding Balances (millions)(a) |  | Average Interest Rate Reduction (% Points) |  | Average Payment Term Extension (# of Months) |  | Number of Accounts (thousands) |  | Outstanding Balances (millions)(a) |  | Average Interest Rate Reduction (% Points) |  | Average Payment Term Extension (# of Months)
Troubled Debt Restructurings: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Card Member Loans |  | 13 |  |  | $ | 98 |  |  | 12 |  |  | (b) |  | 36 |  |  | $ | 267 |  |  | 12 |  |  | (b)
Card Member Receivables |  | 1 |  |  | 24 |  |  | (c) |  | 27 |  | 4 |  |  | 78 |  |  | (c) |  | 28
Total |  | 14 |  |  | $ | 122 |  |  |  |  |  |  | 40 |  |  | $ | 345 |  |  |  |  |
(a)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. Modifications did not reduce the principal balance. (b)For Card Member loans, there have been no payment term extensions. (c)We do not offer interest rate reduction programs for Card Member receivables as the receivables are non-interest bearing. The following table provides information with respect to 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 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.
|  | Three Months Ended September 30, 2019 |  |  |  | Nine Months Ended September 30, 2019 |  |
|  | Number of Accounts (thousands) |  | Aggregated Outstanding Balances Upon Default (millions)(a) |  | Number of Accounts (thousands) |  | Aggregated Outstanding Balances Upon Default (millions)(a)
Troubled Debt Restructurings That Subsequently Defaulted: |  |  |  |  |  |  |  |
Card Member Loans |  | 4 |  |  | $ | 23 |  |  | 9 |  |  | $ | 59 |
Card Member Receivables |  | 1 |  |  | 5 |  |  | 3 |  |  | 13 |
Total |  | 5 |  |  | $ | 28 |  |  | 12 |  |  | $ | 72 |
|  | Three Months Ended September 30, 2018 |  |  |  | Nine Months Ended September 30, 2018 |  |
|  | Number of Accounts (thousands) |  | Aggregated Outstanding Balances Upon Default (millions)(a) |  | Number of Accounts (thousands) |  | Aggregated Outstanding Balances Upon Default (millions)(a)
Troubled Debt Restructurings That Subsequently Defaulted: |  |  |  |  |  |  |  |
Card Member Loans |  | 2 |  |  | $ | 13 |  |  | 5 |  |  | $ | 30 |
Card Member Receivables |  | 1 |  |  | 2 |  |  | 3 |  |  | 7 |
Total |  | 3 |  |  | $ | 15 |  |  | 8 |  |  | $ | 37 |
(a)The outstanding balances upon default include principal, fees and accrued interest on Card Member loans, and principal and fees on Card Member receivables.

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