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Loans and Interest Receivable (Tables)
 3 Months Ended
Mar. 31, 2021
Receivables [Abstract]  
Delinquency status of the principal amount of loans and interest receivable
The following table presents the delinquency status of consumer loans and interest receivable at March 31, 2021 and December 31, 2020. Since our consumer loans are primarily revolving in nature, they are disclosed in the aggregate and not by year of origination. The amounts are based on the number of days past the billing date for revolving loans or contractual repayment date for installment loans. The “current” category represents balances that are within 29 days of the billing date or contractual repayment date, as applicable.
March 31, 2021December 31, 2020
Amortized Cost Basis RevolvingPercentAmortized Cost Basis
Revolving		Percent
(In millions, except percentages)
Current$2,180 97.2 %$2,124 97.9 %
30-59 days21 0.9 %15 0.7 %
60-89 days15 0.7 %11 0.5 %
90-179 days28 1.2 %19 0.9 %
Total consumer loans and interest receivable(1), (2), (3)
$2,244 100.0 %$2,169 100.0 %
(1) Excludes receivables from other consumer credit products of $51 million and $56 million at March 31, 2021 and December 31, 2020, respectively.
(2) Includes installment loans of $623 million and $556 million at March 31, 2021 and December 31, 2020, respectively, substantially all of which were current and originated within the 12 months prior to the reporting date.
(3) Balances at December 31, 2020 include the impact of payment holidays provided primarily in the second quarter of 2020 by the Company to some consumers as a part of our COVID-19 payment relief initiatives.
The following tables present the delinquency status of the principal amount of merchant loans, advances, and interest and fees receivable by year of origination. The amounts are based on the number of days past the expected or contractual repayment date for amounts outstanding. The “current” category represents balances that are within 29 days of the contractual repayment dates or expected repayment date, as applicable.
March 31, 2021
(In millions, except percentages)
2021
2020201920182017TotalPercent
Current$335 $440 $188 $6 $— $969 82.1%
30 - 59 Days3 36 30 2 — 71 6.0%
60 - 89 Days — 18 17 2 — 37 3.1%
90 - 179 Days — 33 38 3 — 74 6.3%
180+ Days— 8 17 4 — 29 2.5%
Total(1)
$338 $535 $290 $17 $— $1,180 100%

December 31, 2020
(In millions, except percentages)
2020
2019201820172016TotalPercent
Current$786 $250 $6 $— $— $1,042 75.4%
30 - 59 Days55 47 3 — — 105 7.6%
60 - 89 Days 27 32 3 — — 62 4.5%
90 - 179 Days 57 78 7 — — 142 10.3%
180+ Days6 20 5 — — 31 2.2%
Total(1)
$931 $427 $24 $— $— $1,382 100%
(1) Balances include the impact of payment holidays provided primarily during the second quarter of 2020 and modification programs offered by the Company as a part of our COVID-19 payment relief initiatives (as discussed further below).
Allowance for loans and interest receivable
The following table summarizes the activity in the allowance for consumer loans and interest receivable for the three months ended March 31, 2021 and 2020:
March 31, 2021March 31, 2020
Consumer Loans ReceivableInterest Receivable
Total Allowance(1)
  Consumer Loans ReceivableInterest Receivable
Total Allowance(1)
(In millions)
Beginning balance$299 $53 $352 $49 $8 $57 
Adjustment for adoption of credit losses accounting standard— — — 24 4 28 
Provisions6 2 8 98 20 118 
Charge-offs(20)(4)(24)(17)(3)(20)
Recoveries(2)
5 — 5 9 — 9 
Other(3)
2 1 3 (4)(1)(5)
Ending balance$292 $52 $344 $159 $28 $187 
(1) Excludes allowances from other consumer credit products of $3 million and $10 million at March 31, 2021 and 2020, respectively.
(2) The recoveries for the three months ended March 31, 2020 were primarily related to fully charged-off U.S. consumer credit receivables not subject to the sale to Synchrony Bank.
(3) Includes amounts related to foreign currency remeasurement.
The following table summarizes the activity in the allowance for merchant loans, advances, and interest and fees receivable, for the three months ended March 31, 2021 and 2020:
March 31, 2021March 31, 2020
Merchant Loans and AdvancesInterest and Fees ReceivableTotal AllowanceMerchant Loans and AdvancesInterest and Fees ReceivableTotal Allowance
(In millions)
Beginning balance$440 $43 $483 $171 $20 $191 
Adjustment for adoption of credit losses accounting standard— — — 165 17 182 
Provisions(15)(2)(17)243 24 267 
Charge-offs(71)(6)(77)(78)(8)(86)
Recoveries8 — 8 3 — 3 
Ending balance$362 $35 $397 $504 $53 $557 
Loans modified as TDRs
The following table shows the merchant loans and interest receivables which have been modified as TDRs in the three months ended March 31, 2021:

Number of Accounts
(in thousands)
Outstanding Balances(1)
(in millions)
Weighted Average Payment Term Extensions
(in months)
Loans and interest receivable2 $31 36
(1) Balances are as of modification date.