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Loans and Card Member Receivables (Tables) | 3 Months Ended
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Mar. 31, 2023
Receivables [Abstract] |
Card member and other loan detail | Card Member and Other loans as of March 31, 2023 and December 31, 2022 consisted of:
(Millions) |  | 2023 |  | 2022
Consumer (a) |  | $ | 84,248 |  |  | $ | 84,964 |
Small Business |  | 24,717 |  |  | 22,947 |
Corporate |  | 85 |  |  | 53 |
Card Member loans |  | 109,050 |  |  | 107,964 |
Less: Reserves for credit losses |  | 4,053 |  |  | 3,747 |
Card Member loans, net |  | $ | 104,997 |  |  | $ | 104,217 |
Other loans, net (b) |  | $ | 5,818 |  |  | $ | 5,357 |
(a)Includes approximately $27.1 billion and $28.5 billion of gross Card Member loans available to settle obligations of a consolidated variable interest entity (VIE) as of March 31, 2023 and December 31, 2022, respectively. (b)Other loans are presented net of reserves for credit losses of $83 million and $59 million as of March 31, 2023 and December 31, 2022, respectively. Card Member receivables as of March 31, 2023 and December 31, 2022 consisted of:
(Millions) |  | 2023 |  | 2022
Consumer |  | $ | 21,725 |  |  | $ | 22,885 |
Small Business |  | 19,546 |  |  | 19,629 |
Corporate (a) |  | 16,223 |  |  | 15,099 |
Card Member receivables |  | 57,494 |  |  | 57,613 |
Less: Reserves for credit losses |  | 223 |  |  | 229 |
Card Member receivables, net |  | $ | 57,271 |  |  | $ | 57,384 |
(a)Includes $5.3 billion and $5.2 billion of gross Card Member receivables available to settle obligations of a consolidated VIE as of March 31, 2023 and December 31, 2022, respectively.
Aging of receivables | The following table presents the aging of Card Member loans and receivables as of March 31, 2023 and December 31, 2022:
2023 (Millions) |  | Current |  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | 90+ Days Past Due |  | Total |  | 90+ Days Past Due and Still Accruing Interest (c) |  | Non-Accruals(d)
Card Member Loans: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consumer |  | $ | 83,292 |  |  | $ | 287 |  |  | $ | 206 |  |  | $ | 463 |  |  | $ | 84,248 |  |  | $ | 354 |  |  | $ | 187 |
Small Business |  | 24,445 |  |  | 93 |  |  | 63 |  |  | 116 |  |  | 24,717 |  |  | 86 |  |  | 52 |
Corporate (a) |  | (b) |  | (b) |  | (b) |  | — |  |  | 85 |  |  | — |  |  | — |
Card Member Receivables: |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consumer |  | 21,482 |  |  | 76 |  |  | 51 |  |  | 116 |  |  | 21,725 |  |  | — |  |  | — |
Small Business |  | $ | 19,222 |  |  | $ | 121 |  |  | $ | 75 |  |  | 128 |  |  | 19,546 |  |  | — |  |  | — |
Corporate (a) |  | (b) |  | (b) |  | (b) |  | $ | 73 |  |  | $ | 16,223 |  |  | $ | — |  |  | $ | — |
2022 (Millions) |  | Current |  | 30-59 Days Past Due |  | 60-89 Days Past Due |  | 90+ Days Past Due |  | Total |  |
Card Member Loans: |  |  |  |  |  |  |  |  |  |  |  |
Consumer |  | $ | 84,102 |  |  | $ | 281 |  |  | $ | 198 |  |  | $ | 383 |  |  | $ | 84,964 |  |  |
Small Business |  | 22,731 |  |  | 81 |  |  | 49 |  |  | 86 |  |  | 22,947 |  |  |
Corporate (a) |  | (b) |  | (b) |  | (b) |  | — |  |  | 53 |  |  |
Card Member Receivables: |  |  |  |  |  |  |  |  |  |  |  |
Consumer |  | 22,634 |  |  | 83 |  |  | 56 |  |  | 112 |  |  | 22,885 |  |  |
Small Business |  | $ | 19,330 |  |  | $ | 120 |  |  | $ | 69 |  |  | 110 |  |  | 19,629 |  |  |
Corporate (a) |  | (b) |  | (b) |  | (b) |  | $ | 85 |  |  | $ | 15,099 |  |  |
(a)For 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. (c)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. (d)Non-accrual loans primarily include certain loans placed with outside collection agencies for which we have ceased accruing interest.
Credit quality indicators for loans and receivables | The following tables present the key credit quality indicators as of or for the three months ended March 31:
|  | 2023 |  | 2022
| 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: |  |  |  |  |  |  |  |  |  |  |  |
Consumer |  | 1.5 | % |  | 1.9 | % |  | 1.1 | % |  | 0.8 | % |  | 1.1 | % |  | 0.8 | %
Small Business |  | 1.2 | % |  | 1.4 | % |  | 1.1 | % |  | 0.6 | % |  | 0.7 | % |  | 0.6 | %
Card Member Receivables: |  |  |  |  |  |  |  |  |  |  |  |
Consumer |  | 1.7 | % |  | 1.8 | % |  | 1.1 | % |  | 0.5 | % |  | 0.5 | % |  | 0.7 | %
Small Business |  | 2.1 | % |  | 2.3 | % |  | 1.7 | % |  | 0.7 | % |  | 0.8 | % |  | 0.9 | %
Corporate |  | (b) |  | 0.6 | % |  | (c) |  | (b) |  | 0.2 | % |  | (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 corporate 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 0.5% and 0.3% as of March 31, 2023 and 2022, respectively.
Modifications of Loans and Receivables | The following table provides information relating to loans and receivables modifications for borrowers experiencing financial difficulty during the three months ended March 31, 2023:
|  | Three Months Ended March 31, 2023 |  |
|  | Account Balances (Millions) (a) |  | % of Total Class of Financing Receivables |  | Weighted Average Interest Rate Reduction (% points) |  | Average Payment Term Extensions (# of months) |  |  |  |  |  |  |  |
Interest Rate Reduction |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Card Member Loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consumer |  | $ | 329 |  |  | 0.4 | % |  | 15.3 | % |  | (b) |  |  |  |  |  |  |  |
Small Business |  | 144 |  |  | 0.6 | % |  | 15.1 | % |  | (b) |  |  |  |  |  |  |  |
Corporate |  | — |  |  | — |  |  | — |  |  | (b) |  |  |  |  |  |  |  |
Term Extension |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Card Member Receivables |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consumer |  | 117 |  |  | 0.5 | % |  | (c) |  | 23 |  |  |  |  |  |  |  |
Small Business |  | 199 |  |  | 1.0 | % |  | (c) |  | 24 |  |  |  |  |  |  |  |
Corporate |  | 7 |  |  | 0.04 | % |  | (c) |  | 10 |  |  |  |  |  |  |  |
Other Loans |  | 6 |  |  | 0.1 | % |  | — |  |  | 18 |  |  |  |  |  |  |  |
Interest Rate Reduction and Term Extension |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other Loans |  | 5 |  |  | 0.1 | % |  | 1.9 | % |  | 18 |  |  |  |  |  |  |  |
Total |  | $ | 807 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
(a)Represents the outstanding balances as of March 31, 2023, of all modifications undertaken on or after January 1, 2023 for loans that remain in modification programs as of, or that defaulted on or before, March 31, 2023. The outstanding balances include 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. The following table provides information relating to the performance of loans and receivables that were modified on or after January 1, 2023.
|  | As of March 31, 2023
Account Balances (Millions) (a) |  | Current |  | 30-89 Days Past Due |  | 90+ Days Past Due
Card Member Loans |  |  |  |  |  |
Consumer |  | $ | 273 |  |  | $ | 43 |  |  | $ | 13 |
Small Business |  | 119 |  |  | 20 |  |  | 5 |
Corporate |  | — |  |  | — |  |  | — |
Card Member Receivables: |  |  |  |  |  |
Consumer |  | 100 |  |  | 14 |  |  | 3 |
Small Business |  | 157 |  |  | 36 |  |  | 6 |
Corporate |  | 7 |  |  | — |  |  | — |
Other Loans |  | 11 |  |  | — |  |  | — |
Total |  | $ | 667 |  |  | $ | 113 |  |  | $ | 27 |
(a)Represents the outstanding balances as of March 31, 2023 of all modifications undertaken on or after January 1, 2023 for loans that remain in modification programs as of, or that defaulted on or before, March 31, 2023. The following table provides additional information with respect to loans and receivables that were modified as TDRs during the three months ended March 31, 2022:
|  | Three Months Ended March 31, 2022
|  | Number of Accounts (thousands) |  | Account Balances (millions)(a) |  | Average Interest Rate Reduction (% Points) |  | Average Payment Term Extensions (# of Months)
Troubled Debt Restructurings: |  |  |  |  |  |  |  |
Card Member Loans |  | 27 |  |  | $ | 177 |  |  | 14 |  |  | (b)
Card Member Receivables |  | 6 |  |  | 171 |  | (c) |  | 17
Other Loans |  | 1 |  |  | 1 |  | 2 |  |  | 15
Total |  | 34 |  |  | $ | 349 |  |  |  |  |
(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.
Impaired Card Member loans and receivables | The following table provides additional information with respect to our impaired loans and receivables as of December 31, 2022:
|  | As of December 31, 2022
|  |  |  |  |  | Accounts Classified as a TDR (c) |  |  |  |
2022 (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 |  |  |  |  |  |  |  |  |  |  |  |
Consumer |  | $ | 252 |  |  | $ | 155 |  |  | $ | 781 |  |  | $ | 1,098 |  |  | $ | 2,286 |  |  | $ | 335 |
Small Business |  | 54 |  |  | 34 |  |  | 267 |  |  | 380 |  |  | 735 |  |  | 108 |
Corporate |  | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Card Member Receivables |  |  |  |  |  |  |  |  |  |  |  |
Consumer |  | — |  |  | — |  |  | 257 |  |  | 179 |  |  | 436 |  |  | 20 |
Small Business |  | — |  |  | — |  |  | 403 |  |  | 402 |  |  | 805 |  |  | 40 |
Corporate |  | — |  |  | — |  |  | 6 |  |  | 7 |  |  | 13 |  |  | 1 |
Other Loans |  | 3 |  |  | 2 |  |  | 19 |  |  | 2 |  |  | 26 |  |  | — |
Total |  | $ | 309 |  |  | $ | 191 |  |  | $ | 1,733 |  |  | $ | 2,068 |  |  | $ | 4,301 |  |  | $ | 504 |
(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 $48 million that were over 90 days past due and accruing interest as of December 31, 2022 and $17 million that were non-accruals as of December 31, 2022. (d)In Program TDRs include accounts that are currently enrolled in a modification program. (e)Out of Program TDRs include $1,922 million of accounts that have successfully completed a modification program and $146 million of accounts that were not in compliance with the terms of the modification programs as of December 31, 2022.
Troubled Debt Restructurings On Financing Receivables With Subsequent Default | The following table provides 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 March 31, 2022 |  |
|  | Number of Accounts (thousands) |  | Aggregated Outstanding Balances Upon Default (millions)(a) |  |  |  |
Troubled Debt Restructurings That Subsequently Defaulted: |  |  |  |  |  |  |  |
Card Member Loans |  | 4 |  |  | $ | 29 |  |  |  |  |
Card Member Receivables |  | 1 |  |  | 10 |  |  |  |
Other Loans |  | — |  |  | — |  |  |  |  |
Total |  | 5 |  |  | $ | 39 |  |  |  |  |
(a)The outstanding balances upon default include principal, fees and accrued interest on loans, and principal and fees on receivables.

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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 https://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 https://asc.fasb.org/extlink&oid=123577603&loc=SL6953659-111524 + Details
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