v3.25.2
Variable Interest Entities - Summary of Assets and Liabilities (Details) - USD ($)
$ in Millions
Jun. 30, 2025
Mar. 31, 2025
Dec. 31, 2024
Jun. 30, 2024
Mar. 31, 2024
Dec. 31, 2023
Variable Interest Entity [Line Items]            
Loan receivables, net $ 89,212   $ 93,792      
Loan receivables held for sale 191   0      
Other assets 6,604   5,753      
Total assets 120,505   119,463      
Total liabilities 103,553   102,883      
Allowance for credit loss (10,564) $ (10,828) (10,929) $ (10,982) $ (10,905) $ (10,571)
Total loan receivables [1],[2],[3] 99,776   104,721      
Variable Interest Entity, Primary Beneficiary            
Variable Interest Entity [Line Items]            
Loan receivables, net [4] 19,346   19,439      
Other assets [5] 727   44      
Total assets 20,073   19,483      
Borrowings [6],[7] 8,340   7,842      
Other liabilities 28   27      
Total liabilities 8,368   7,869      
Allowance for credit loss (1,900)   (1,900)      
Total loan receivables 21,210   21,339      
Restricted Cash Equivalents $ 720   $ 40      
Restricted Cash Equivalents, Statement of Financial Position [Extensible Enumeration] Other assets   Other assets      
[1] 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.
[2] 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.
[3] 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.
[4] 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.
[5] 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.
[6] Includes unamortized debt premiums, discounts and issuance costs.
[7] 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.