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UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Millions
 6 Months Ended
Jun. 30, 2026
Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES    
Net income $ 328 $ 276
Adjustments to reconcile net income to net cash provided by operating activities    
Provision for credit losses 616 570
Depreciation and amortization 37 42
Deferred income taxes 8 17
Non-cash stock-based compensation 31 28
Amortization of deferred financing costs 8 8
Amortization of deferred origination costs 36 38
Originations of loans held-for-sale [1] (387) 0
Proceeds from sales and paydowns of loans held-for-sale [1] 370 0
Change in other operating assets and liabilities    
Change in other assets 15 53
Change in other liabilities (46) (118)
Other 4 5
Net cash provided by operating activities 1,020 919
CASH FLOWS FROM INVESTING ACTIVITIES    
Change in credit card and other loans (343) 487
Purchases of investments (10) (15)
Maturities of investments 9 10
Other, including capital expenditures (11) (12)
Net cash (used in) provided by investing activities (355) 470
CASH FLOWS FROM FINANCING ACTIVITIES    
Unsecured borrowings under debt agreements 0 400
Repayments/maturities of unsecured borrowings under debt agreements (51) (272)
Debt issued by consolidated variable interest entities 150 0
Repayments/maturities of debt issued by consolidated variable interest entities (1,126) (1,470)
Net increase in deposits 815 258
Payment of deferred financing costs (1) (10)
Net proceeds from the issuance of preferred stock 130 0
Repurchases of common stock (396) (150)
Dividends and dividend equivalent rights paid (25) (22)
Other (30) (19)
Net cash used in financing activities (534) (1,285)
Change in cash, cash equivalents and restricted cash 131 104
Cash, cash equivalents and restricted cash at beginning of period 3,628 3,714
Cash, cash equivalents and restricted cash at end of period 3,759 3,818
Cash and cash equivalents reconciliation    
Cash and cash equivalents 3,683 3,799
Restricted cash included within Other assets 76 19
Total cash, cash equivalents and restricted cash $ 3,759 $ 3,818
[1] Relates to originations of installment loans held for sale and subsequently sold under a new partnership. See Note 2, "Credit Card and Other Loans - Credit Card Loan Portfolio and Installment Loan Sales" to our unaudited Consolidated Financial Statements.