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Loans and Card Member Receivables (Tables) | 9 Months Ended
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Sep. 30, 2021
Receivables [Abstract] |
Card Member receivables segment and other loans detail | Card Member loans by segment and Other loans as of September 30, 2021 and December 31, 2020 consisted of:
(Millions) |  | 2021 |  | 2020
Global Consumer Services Group (a) |  | $ | 61,625 |  |  | $ | 60,084 |
Global Commercial Services |  | 15,401 |  |  | 13,289 |
Card Member loans |  | 77,026 |  |  | 73,373 |
Less: Reserves for credit losses |  | 3,489 |  |  | 5,344 |
Card Member loans, net |  | $ | 73,537 |  |  | $ | 68,029 |
Other loans, net (b) |  | $ | 2,349 |  |  | $ | 2,614 |
(a)Includes approximately $24.7 billion and $25.9 billion of gross Card Member loans available to settle obligations of a consolidated variable interest entity (VIE) as of September 30, 2021 and December 31, 2020, respectively. (b)Other loans represent consumer and commercial non-card financing products, and Small Business Administration Paycheck Protection Program (PPP) loans. There were $0.1 billion and $0.6 billion of gross PPP loans outstanding as of September 30, 2021 and December 31, 2020, respectively. Other loans are presented net of reserves for credit losses of $66 million and $238 million as of September 30, 2021 and December 31, 2020, respectively. Card Member receivables by segment as of September 30, 2021 and December 31, 2020 consisted of:
(Millions) |  | 2021 |  | 2020
Global Consumer Services Group |  | $ | 19,499 |  |  | $ | 18,685 |
Global Commercial Services (a) |  | 29,259 |  |  | 25,016 |
Card Member receivables |  | 48,758 |  |  | 43,701 |
Less: Reserves for credit losses |  | 30 |  |  | 267 |
Card Member receivables, net |  | $ | 48,728 |  |  | $ | 43,434 |
(a)Includes $5.1 billion and $4.3 billion of gross Card Member receivables available to settle obligations of a consolidated VIE as of September 30, 2021 and December 31, 2020, respectively.
Aging of Card Member loans and receivables | The following table presents the aging of Card Member loans and receivables as of September 30, 2021 and December 31, 2020:
2021 (Millions) |  | Current |  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | 90+ Days Past Due |  | Total
Card Member Loans: |  |  |  |  |  |  |  |  |  |
Global Consumer Services Group |  | $ | 61,178 |  |  | $ | 144 |  |  | $ | 100 |  |  | $ | 203 |  |  | $ | 61,625 |
Global Commercial Services |  |  |  |  |  |  |  |  |  |
Global Small Business Services |  | 15,272 |  |  | 29 |  |  | 19 |  |  | 29 |  |  | 15,349 |
Global Corporate Payments (a) |  | (b) |  | (b) |  | (b) |  | — |  |  | 52 |
Card Member Receivables: |  |  |  |  |  |  |  |  |  |
Global Consumer Services Group |  | 19,400 |  |  | 38 |  |  | 22 |  |  | 39 |  |  | 19,499 |
Global Commercial Services |  |  |  |  |  |  |  |  |  |
Global Small Business Services |  | $ | 16,684 |  |  | $ | 42 |  |  | $ | 24 |  |  | $ | 31 |  |  | $ | 16,781 |
Global Corporate Payments (a) |  | (b) |  | (b) |  | (b) |  | $ | 35 |  |  | $ | 12,478 |
2020 (Millions) |  | Current |  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | 90+ Days Past Due |  | Total
Card Member Loans: |  |  |  |  |  |  |  |  |  |
Global Consumer Services Group |  | $ | 59,442 |  |  | $ | 177 |  |  | $ | 148 |  |  | $ | 317 |  |  | $ | 60,084 |
Global Commercial Services |  |  |  |  |  |  |  |  |  |
Global Small Business Services |  | 13,132 |  |  | 27 |  |  | 20 |  |  | 47 |  |  | 13,226 |
Global Corporate Payments (a) |  | (b) |  | (b) |  | (b) |  | — |  |  | 63 |
Card Member Receivables: |  |  |  |  |  |  |  |  |  |
Global Consumer Services Group |  | 18,570 |  |  | 33 |  |  | 26 |  |  | 56 |  |  | 18,685 |
Global Commercial Services |  |  |  |  |  |  |  |  |  |
Global Small Business Services |  | $ | 14,023 |  |  | $ | 37 |  |  | $ | 21 |  |  | $ | 38 |  |  | $ | 14,119 |
Global Corporate Payments (a) |  | (b) |  | (b) |  | (b) |  | $ | 60 |  |  | $ | 10,897 |
(a)Global Corporate Payments (GCP) reflects global, large and middle market corporate accounts. 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 loans and receivables | The following tables present the key credit quality indicators as of or for the nine months ended September 30:
|  | 2021 |  | 2020
| 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 |  | 1.1 | % |  | 1.4 | % |  | 0.7 | % |  | 2.7 | % |  | 3.2 | % |  | 1.2 | %
Global Small Business Services |  | 0.7 | % |  | 0.8 | % |  | 0.5 | % |  | 2.1 | % |  | 2.4 | % |  | 1.1 | %
Card Member Receivables: |  |  |  |  |  |  |  |  |  |  |  |
Global Consumer Services Group |  | 0.3 | % |  | 0.4 | % |  | 0.5 | % |  | 2.0 | % |  | 2.2 | % |  | 0.8 | %
Global Small Business Services |  | 0.3 | % |  | 0.4 | % |  | 0.6 | % |  | 2.3 | % |  | 2.6 | % |  | 1.0 | %
Global Corporate Payments (d) |  | (b) |  | (0.1) | % |  | (c) |  | (b) |  | 2.2 | % |  | (c)
(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, as our practice is to include uncollectible interest and/or fees as part of our total provision for credit losses, a net write-off rate including principal, interest and/or fees is also presented. (b)Net write-off rate based on principal losses only is not available due to system constraints. (c)For GCP Card Member receivables, delinquency data is tracked based on days past billing status rather than days past due. Delinquency data for periods other than 90+ days past billing is not available due to system constraints. 90+ Days Past Billing as a % of total was 0.3% and 0.6% as of September 30, 2021 and 2020, respectively. (d)The net write-off rate for the current year includes a $37 million partial recovery in Card Member receivables related to a corporate client bankruptcy, which had resulted in a $53 million write-off in the prior year.
Impaired Card Member loans and receivables | The following tables provide additional information with respect to our impaired loans and receivables as of September 30, 2021 and December 31, 2020:
|  | As of September 30, 2021
|  |  |  | Accounts Classified as a TDR (c) |  |
2021 (Millions) |  | Over 90 days Past Due & Accruing Interest(a) |  | Non- Accruals(b) |  | In Program(d) |  | Out of Program(e) |  | Total Impaired Balance |  | Reserve for Credit Losses - TDRs
Card Member Loans: |  |  |  |  |  |  |  |  |  |  |  |
Global Consumer Services Group |  | $ | 134 |  |  | $ | 77 |  |  | $ | 845 |  |  | $ | 891 |  |  | $ | 1,947 |  |  | $ | 491 |
Global Commercial Services |  | 14 |  |  | 15 |  |  | 209 |  |  | 299 |  |  | 537 |  |  | 165 |
Card Member Receivables: |  |  |  |  |  |  |  |  |  |  |  |
Global Consumer Services Group |  | — |  |  | — |  |  | 138 |  |  | 101 |  |  | 239 |  |  | 24 |
Global Commercial Services |  | — |  |  | — |  |  | 254 |  |  | 265 |  |  | 519 |  |  | 46 |
Other Loans (f) |  | 1 |  |  | — |  |  | 97 |  |  | 3 |  |  | 101 |  |  | 9 |
Total |  | $ | 149 |  |  | $ | 92 |  |  | $ | 1,543 |  |  | $ | 1,559 |  |  | $ | 3,343 |  |  | $ | 735 |
|  | As of December 31, 2020
|  |  |  |  |  | Accounts Classified as a TDR (c) |  |  |  |
2020 (Millions) |  | Over 90 days Past Due & Accruing Interest(a) |  | Non- Accruals(b) |  | In Program(d) |  | Out of Program(e) |  | Total Impaired Balance |  | Reserve for Credit Losses - TDRs
Card Member Loans: |  |  |  |  |  |  |  |  |  |  |  |
Global Consumer Services Group |  | $ | 203 |  |  | $ | 146 |  |  | $ | 1,586 |  |  | $ | 248 |  |  | $ | 2,183 |  |  | $ | 782 |
Global Commercial Services |  | 21 |  |  | 29 |  |  | 478 |  |  | 67 |  |  | 595 |  |  | 285 |
Card Member Receivables: |  |  |  |  |  |  |  |  |  |  |  |
Global Consumer Services Group |  | — |  |  | — |  |  | 240 |  |  | 34 |  |  | 274 |  |  | 60 |
Global Commercial Services |  | — |  |  | — |  |  | 534 |  |  | 75 |  |  | 609 |  |  | 139 |
Other Loans (f) |  | 2 |  |  | 1 |  |  | 248 |  |  | 6 |  |  | 257 |  |  | 80 |
Total |  | $ | 226 |  |  | $ | 176 |  |  | $ | 3,086 |  |  | $ | 430 |  |  | $ | 3,918 |  |  | $ | 1,346 |
(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 loans classified as a TDR. (b)Non-accrual loans not in modification programs primarily include certain loans placed with outside collection agencies for which we have ceased accruing interest. Amounts presented exclude loans classified as TDRs. (c)Accounts classified as a TDR include $32 million and $32 million that are over 90 days past due and accruing interest as of September 30, 2021 and December 31, 2020, respectively, and $17 million and $11 million that are non-accruals as of September 30, 2021 and December 31, 2020, respectively. (d)In Program TDRs include accounts that are currently enrolled in a modification program. (e)Out of Program TDRs include $1,413 million and $316 million of accounts that have successfully completed a modification program and $146 million and $114 million of accounts that were not in compliance with the terms of the modification programs as of September 30, 2021 and December 31, 2020, respectively. (f)Other loans primarily represent consumer and commercial non-card financing products.
Troubled debt restructurings | The following tables provide additional information with respect to loans and receivables that entered a financial relief program and were modified as TDRs during the three and nine months ended September 30, 2021 and 2020:
|  | Three Months Ended September 30, 2021 |  | Nine Months Ended September 30, 2021
|  | Number of Accounts (thousands) |  | Account Balances (millions)(a) |  | Average Interest Rate Reduction (% Points) |  | Average Payment Term Extensions (# of Months) |  | Number of Accounts (thousands) |  | Account Balances (millions)(a) |  | Average Interest Rate Reduction (% Points) |  | Average Payment Term Extension (# of Months)
Troubled Debt Restructurings: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Card Member Loans |  | 26 |  |  | $ | 177 |  |  | 13 |  |  | (b) |  | 87 |  |  | $ | 636 |  |  | 13 |  |  | (b)
Card Member Receivables |  | 5 |  |  | 114 |  |  | (c) |  | 17 |  | 16 |  |  | 314 |  |  | (c) |  | 18
Other Loans (d) |  | 1 |  |  | 2 |  |  | 3 |  |  | 17 |  | 3 |  |  | $ | 12 |  |  | 3 |  |  | 16
Total |  | 32 |  |  | $ | 293 |  |  |  |  |  |  | 106 |  |  | $ | 962 |  |  |  |  |
|  | Three Months Ended September 30, 2020 |  | Nine Months Ended September 30, 2020
|  | Number of Accounts (thousands) |  | Account Balances (millions)(a) |  | Average Interest Rate Reduction (% Points) |  | Average Payment Term Extensions (# of Months) |  | Number of Accounts (thousands) |  | Account Balances (millions)(a) |  | Average Interest Rate Reduction (% Points) |  | Average Payment Term Extension (# of Months)
Troubled Debt Restructurings: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Card Member Loans |  | 76 |  |  | $ | 649 |  |  | 14 |  |  | (b) |  | 216 |  |  | $ | 1,947 |  |  | 14 |  |  | (b)
Card Member Receivables |  | 13 |  |  | 231 |  |  | (c) |  | 18 |  | 38 |  |  | 1,049 |  |  | (c) |  | 19
Other Loans (d) |  | 3 |  |  | $ | 165 |  |  | 3 |  |  | 17 |  | 8 |  |  | $ | 319 |  |  | 3 |  |  | 16
Total |  | 92 |  |  | $ | 1,045 |  |  |  |  |  |  | 262 |  |  | $ | 3,315 |  |  |  |  |
(a)Represents the outstanding balance immediately prior to modification. The outstanding balance includes principal, fees and accrued interest on loans and principal and fees on 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. (d)Other loans primarily represent consumer and commercial non-card financing products.
Troubled debt restructurings that subsequently defaulted | The following tables provide information with respect to loans and receivables modified as TDRs that subsequently defaulted within twelve months of modification. A customer can miss up to three payments before being considered in default, depending on the terms of the modification program.
|  | Three Months Ended September 30, 2021 |  | Nine Months Ended September 30, 2021
| 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 |  |  | $ | 32 |  |  | 20 |  |  | $ | 148 |
Card Member Receivables |  | 1 |  |  | 10 |  |  | 5 |  |  | 48 |
Other Loans (b) |  | 1 |  |  | 1 |  |  | 3 |  |  | 9 |
Total |  | 6 |  |  | $ | 43 |  |  | 28 |  |  | $ | 205 |
|  | Three Months Ended September 30, 2020 |  | Nine Months Ended September 30, 2020
| 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 |  |  | $ | 32 |  |  | 11 |  |  | $ | 84 |
Card Member Receivables |  | 1 |  |  | 16 |  |  | 3 |  |  | 34 |
Other Loans (b) |  | 1 |  |  | 1 |  |  | 2 |  |  | $ | 2 |
Total |  | 6 |  |  | $ | 49 |  |  | 16 |  |  | $ | 120 |
(a)The outstanding balances upon default include principal, fees and accrued interest on loans, and principal and fees on receivables. (b)Other loans primarily represent consumer and commercial non-card financing products.

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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/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 20 -Section 50 -Paragraph 5 -URI http://asc.fasb.org/extlink&oid=124255953&loc=SL82919230-210447 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 310 -SubTopic 10 -Section 50 -Paragraph 29 -URI http://asc.fasb.org/extlink&oid=123577603&loc=SL6953659-111524 + Details
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- Definition Tabular disclosure of the various types of trade accounts and notes receivable and for each the gross carrying value, allowance, and net carrying value as of the balance sheet date. Presentation is categorized by current, noncurrent and unclassified receivables. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.3,4) -URI http://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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