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Allowance for Credit Losses (Tables) | 9 Months Ended
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Sep. 30, 2023
Receivables [Abstract] |
Schedule of Allowance for Credit Losses, Accounts Receivable | The following table presents changes in our allowance for credit losses:
| Credit Card(1) |  | Commercial and Consumer Banking(1) |  | Accounts Receivable(1)
Three Months Ended September 30, 2023 |  |  |  |  |
Balance at June 30, 2023 | $ | 39,361 |  |  | $ | 1,866 |  |  | $ | 1,937 |
Provision for credit losses(2) | 21,821 |  |  | 10 |  |  | (148) |
Write-offs charged against the allowance(3) | (11,127) |  |  | (8) |  |  | (208) |
Balance at September 30, 2023 | $ | 50,055 |  |  | $ | 1,868 |  |  | $ | 1,581 |
Three Months Ended September 30, 2022 |  |  |  |  |
Balance at June 30, 2022 | $ | 21,974 |  |  | $ | 1,204 |  |  | $ | 2,720 |
Provision for credit losses(2) | 16,119 |  |  | 204 |  |  | (929) |
Write-offs charged against the allowance | (5,133) |  |  | 2 |  |  | — |
Balance at September 30, 2022 | $ | 32,960 |  |  | $ | 1,410 |  |  | $ | 1,791 |
Nine Months Ended September 30, 2023 |  |  |  |  |
Balance at December 31, 2022 | $ | 39,110 |  |  | $ | 1,678 |  |  | $ | 2,785 |
Provision for credit losses(2) | 42,658 |  |  | 195 |  |  | 94 |
Write-offs charged against the allowance(3) | (31,713) |  |  | (5) |  |  | (1,298) |
Balance at September 30, 2023 | $ | 50,055 |  |  | $ | 1,868 |  |  | $ | 1,581 |
Nine Months Ended September 30, 2022 |  |  |  |  |
Balance at December 31, 2021 | $ | 7,037 |  |  | $ | — |  |  | $ | 2,292 |
Provision for credit losses(2) | 38,361 |  |  | 1,026 |  |  | (408) |
Allowance for PCD loans(4) | — |  |  | 382 |  |  | — |
Write-offs charged against the allowance | (12,438) |  |  | 2 |  |  | (93) |
Balance at September 30, 2022 | $ | 32,960 |  |  | $ | 1,410 |  |  | $ | 1,791 |
_____________________ (1)Credit cards and commercial and consumer banking loans measured at amortized cost, net of allowance for credit losses, are presented within loans held for investment in the condensed consolidated balance sheets. Accounts receivable balances, net of allowance for credit losses, are presented within other assets in the condensed consolidated balance sheets. (2)The provision for credit losses on credit cards and commercial and consumer banking loans is presented within noninterest expense—provision for credit losses in the condensed consolidated statements of operations and comprehensive loss. There were immaterial recoveries of amounts previously reserved related to credit cards and commercial and consumer banking loans during the three and nine months ended September 30, 2023 and 2022. The provision for credit losses on accounts receivable is presented within noninterest expense—general and administrative in the condensed consolidated statements of operations and comprehensive loss. During the three and nine months ended September 30, 2023, recoveries of amounts previously reserved related to accounts receivable were $45 and $1,224, respectively. During the three and nine months ended September 30, 2022, recoveries of amounts previously reserved related to accounts receivable were $937 and $2,697, respectively. (3)The increases in credit card write-offs charged against the allowance during the three and nine months ended September 30, 2023 relative to the corresponding periods in 2022 were primarily related to our maturing portfolio. (4)In connection with the Bank Merger, we obtained purchased credit deteriorated (“PCD”) loans, for which we measured an allowance, with a corresponding increase to the amortized cost basis as of the acquisition date. Therefore, recognition of the initial allowance for credit losses did not impact earnings.
Schedule of Allowance for Credit Losses, Credit Card Loans | The following table presents changes in our allowance for credit losses:
| Credit Card(1) |  | Commercial and Consumer Banking(1) |  | Accounts Receivable(1)
Three Months Ended September 30, 2023 |  |  |  |  |
Balance at June 30, 2023 | $ | 39,361 |  |  | $ | 1,866 |  |  | $ | 1,937 |
Provision for credit losses(2) | 21,821 |  |  | 10 |  |  | (148) |
Write-offs charged against the allowance(3) | (11,127) |  |  | (8) |  |  | (208) |
Balance at September 30, 2023 | $ | 50,055 |  |  | $ | 1,868 |  |  | $ | 1,581 |
Three Months Ended September 30, 2022 |  |  |  |  |
Balance at June 30, 2022 | $ | 21,974 |  |  | $ | 1,204 |  |  | $ | 2,720 |
Provision for credit losses(2) | 16,119 |  |  | 204 |  |  | (929) |
Write-offs charged against the allowance | (5,133) |  |  | 2 |  |  | — |
Balance at September 30, 2022 | $ | 32,960 |  |  | $ | 1,410 |  |  | $ | 1,791 |
Nine Months Ended September 30, 2023 |  |  |  |  |
Balance at December 31, 2022 | $ | 39,110 |  |  | $ | 1,678 |  |  | $ | 2,785 |
Provision for credit losses(2) | 42,658 |  |  | 195 |  |  | 94 |
Write-offs charged against the allowance(3) | (31,713) |  |  | (5) |  |  | (1,298) |
Balance at September 30, 2023 | $ | 50,055 |  |  | $ | 1,868 |  |  | $ | 1,581 |
Nine Months Ended September 30, 2022 |  |  |  |  |
Balance at December 31, 2021 | $ | 7,037 |  |  | $ | — |  |  | $ | 2,292 |
Provision for credit losses(2) | 38,361 |  |  | 1,026 |  |  | (408) |
Allowance for PCD loans(4) | — |  |  | 382 |  |  | — |
Write-offs charged against the allowance | (12,438) |  |  | 2 |  |  | (93) |
Balance at September 30, 2022 | $ | 32,960 |  |  | $ | 1,410 |  |  | $ | 1,791 |
_____________________ (1)Credit cards and commercial and consumer banking loans measured at amortized cost, net of allowance for credit losses, are presented within loans held for investment in the condensed consolidated balance sheets. Accounts receivable balances, net of allowance for credit losses, are presented within other assets in the condensed consolidated balance sheets. (2)The provision for credit losses on credit cards and commercial and consumer banking loans is presented within noninterest expense—provision for credit losses in the condensed consolidated statements of operations and comprehensive loss. There were immaterial recoveries of amounts previously reserved related to credit cards and commercial and consumer banking loans during the three and nine months ended September 30, 2023 and 2022. The provision for credit losses on accounts receivable is presented within noninterest expense—general and administrative in the condensed consolidated statements of operations and comprehensive loss. During the three and nine months ended September 30, 2023, recoveries of amounts previously reserved related to accounts receivable were $45 and $1,224, respectively. During the three and nine months ended September 30, 2022, recoveries of amounts previously reserved related to accounts receivable were $937 and $2,697, respectively. (3)The increases in credit card write-offs charged against the allowance during the three and nine months ended September 30, 2023 relative to the corresponding periods in 2022 were primarily related to our maturing portfolio. (4)In connection with the Bank Merger, we obtained purchased credit deteriorated (“PCD”) loans, for which we measured an allowance, with a corresponding increase to the amortized cost basis as of the acquisition date. Therefore, recognition of the initial allowance for credit losses did not impact earnings.

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