v3.25.2
Condensed Consolidated Statements of Financial Position - USD ($)
$ in Millions
Jun. 30, 2025
Dec. 31, 2024
Assets    
Cash and equivalents $ 19,457 $ 14,711
Debt securities (Note 4) [1] 2,905 3,079
Total loan receivables [2],[3],[4] 99,776 104,721
Less: Allowance for credit losses (10,564) (10,929)
Loan receivables, net 89,212 93,792
Loan receivables held for sale (Note 5) 191 0
Goodwill 1,274 1,274
Intangible assets, net (Note 7) 862 854
Other assets 6,604 5,753
Total assets 120,505 119,463
Deposits: (Note 8)    
Interest-bearing deposit accounts 81,857 81,664
Non-interest-bearing deposit accounts 405 398
Total deposits 82,262 82,062
Borrowings: (Notes 6 and 9)    
Senior and subordinated unsecured notes 7,669 7,620
Total borrowings [5],[6] 16,009 15,462
Accrued expenses and other liabilities 5,282 5,359
Total liabilities 103,553 102,883
Equity:    
Preferred stock, par value $0.001 per share; 1,250,000 shares authorized, issued and outstanding; and aggregate liquidation preference of $1,250 at both June 30, 2025 and December 31, 2024 1,222 1,222
Common stock, par value $0.001 per share; 4,000,000,000 shares authorized; 833,984,684 shares issued at both June 30, 2025 and December 31, 2024; 371,942,844 and 388,261,077 shares outstanding at June 30, 2025 and December 31, 2024, respectively 1 1
Additional paid-in capital 9,836 9,853
Retained earnings 23,036 21,635
Accumulated other comprehensive income (loss):    
Debt securities (12) (23)
Currency translation adjustments (40) (44)
Employee benefit plans and other 7 8
Treasury stock, at cost; 462,041,840 and 445,723,607 shares at June 30, 2025 and December 31, 2024, respectively (17,098) (16,072)
Total equity 16,952 16,580
Total liabilities and equity 120,505 119,463
Unsecuritized loans held for investment    
Assets    
Total loan receivables 78,566 83,382
Restricted loans of consolidated securitization entities    
Assets    
Total loan receivables 21,210 21,339
Less: Allowance for credit losses (1,900) (1,900)
Loan receivables, net [7] 19,346 19,439
Other assets [8] 727 44
Total assets 20,073 19,483
Borrowings: (Notes 6 and 9)    
Borrowings of consolidated securitization entities [5],[6] 8,340 7,842
Total liabilities $ 8,368 $ 7,869
[1] At June 30, 2025 and December 31, 2024, the estimated fair value of debt securities pledged by the Bank as collateral to the Federal Reserve to secure Federal Reserve discount window advances was $451 million and $551 million, respectively.
[2] At June 30, 2025 and December 31, 2024, loan receivables included deferred costs, net of purchase discounts and deferred income of $(156) million and $(212) million, respectively.
[3] Total loan receivables include $21.2 billion and $21.3 billion of restricted loans of consolidated securitization entities at June 30, 2025 and December 31, 2024, respectively. See Note 6. Variable Interest Entities for further information.
[4] At June 30, 2025 and December 31, 2024, $19.9 billion and $20.7 billion, respectively, of loan receivables were pledged by the Bank as collateral to the Federal Reserve to secure Federal Reserve discount window advances.
[5] Includes unamortized debt premiums, discounts and issuance costs.
[6] The Company may redeem certain borrowings prior to their original contractual maturity dates in accordance with the optional redemption provision specified in the respective instruments.
(c)Includes $800 million principal amount issued in March 2025, interest rate fixed through March 6, 2030; resets March 7, 2030 to floating rate based on compounded Secured Overnight Financing Rate ("SOFR") plus 168 basis points.
[7] Includes $1.9 billion and $1.9 billion of related allowance for credit losses resulting in gross restricted loan receivables of $21.2 billion and $21.3 billion at June 30, 2025 and December 31, 2024, respectively.
[8] Includes $720 million and $40 million of segregated funds held by the VIEs at June 30, 2025 and December 31, 2024, respectively, which are classified as restricted cash and equivalents and included as a component of Other assets in our Condensed Consolidated Statements of Financial Position.