| Schedule of Segment Results and Reconciliation |
The following table presents our business segment results for the three months ended March 31, 2026 and 2025, selected balance sheet data as of March 31, 2026 and 2025, and a reconciliation of our total business segment results to our reported consolidated income from continuing operations, loans held for investment and deposits. Table 13.1: Segment Results and Reconciliation | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, 2026 | | (Dollars in millions) | | Credit Card | | Consumer Banking | | Commercial Banking(1) | | Other(1) | | Consolidated Total | | Net interest income | | $ | 9,236 | | | $ | 2,229 | | | $ | 581 | | | $ | 99 | | | $ | 12,145 | | | Non-interest income (loss) | | 2,153 | | | 683 | | | 328 | | | (78) | | | 3,086 | | Total net revenue(2) | | 11,389 | | | 2,912 | | | 909 | | | 21 | | | 15,231 | | Provision for credit losses | | 3,411 | | | 519 | | | 138 | | | 0 | | | 4,068 | | | Non-interest expense | | 5,501 | | | 1,998 | | | 498 | | | 467 | | | 8,464 | | | Income (loss) from continuing operations before income taxes | | 2,477 | | | 395 | | | 273 | | | (446) | | | 2,699 | | | Income tax provision (benefit) | | 608 | | | 97 | | | 67 | | | (254) | | | 518 | | | Income (loss) from continuing operations, net of tax | | $ | 1,869 | | | $ | 298 | | | $ | 206 | | | $ | (192) | | | $ | 2,181 | | | Loans held for investment | | $ | 270,558 | | | $ | 86,873 | | | $ | 90,323 | | | $ | 0 | | | $ | 447,754 | | | Deposits | | 0 | | 438,034 | | | 31,007 | | | 20,012 | | | 489,053 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, 2025 | | (Dollars in millions) | | Credit Card | | Consumer Banking | | Commercial Banking(1) | | Other(1) | | Consolidated Total | | Net interest income (loss) | | $ | 5,654 | | | $ | 1,943 | | | $ | 572 | | | $ | (156) | | | $ | 8,013 | | | Non-interest income (loss) | | 1,511 | | | 183 | | | 312 | | | (19) | | | 1,987 | | Total net revenue (loss)(2) | | 7,165 | | | 2,126 | | | 884 | | | (175) | | | 10,000 | | | Provision (benefit) for credit losses | | 1,926 | | | 301 | | | 142 | | | 0 | | | 2,369 | | | Non-interest expense | | 3,638 | | | 1,581 | | | 486 | | | 197 | | | 5,902 | | | Income (loss) from continuing operations before income taxes | | 1,601 | | | 244 | | | 256 | | | (372) | | | 1,729 | | | Income tax provision (benefit) | | 382 | | | 58 | | | 61 | | | (176) | | | 325 | | | Income (loss) from continuing operations, net of tax | | $ | 1,219 | | | $ | 186 | | | $ | 195 | | | $ | (196) | | | $ | 1,404 | | | Loans held for investment | | $ | 157,189 | | | $ | 78,896 | | | $ | 87,513 | | | $ | 0 | | | $ | 323,598 | | | Deposits | | 0 | | | 324,920 | | | 29,984 | | | 12,560 | | | 367,464 | |
_________ (1)Some of our commercial investments generate tax-exempt income, tax credits or other tax benefits. Accordingly, we present our Commercial Banking revenue and yields on a taxable-equivalent basis, calculated using a blended federal and state statutory tax rate, with offsetting reductions to the Other category. (2)Total net revenue was reduced by $980 million and $705 million in the first quarters of 2026 and 2025, respectively, for credit card finance charges and fees charged off as uncollectible.
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| Disaggregation of Revenue |
The following table presents revenue from contracts with customers and a reconciliation to non-interest income by business segment for the three months ended March 31, 2026 and 2025. Table 13.2: Revenue from Contracts with Customers and Reconciliation to Segment Results | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, 2026 | | (Dollars in millions) | | Credit Card | | Consumer Banking | | Commercial Banking(1) | | Other(1) | | Consolidated Total | | Contract revenue: | | | | | | | | | | | Discount and interchange fees, net(2) | | $ | 1,469 | | | $ | 475 | | | $ | 20 | | | $ | 0 | | | $ | 1,964 | | | Service charges and other customer-related fees | | 22 | | | 149 | | | 76 | | | 2 | | | 249 | | | Other | | 136 | | | 58 | | | 2 | | | 1 | | | 197 | | Total contract revenue | | 1,627 | | | 682 | | | 98 | | | 3 | | | 2,410 | | | Revenue (reduction) from other sources | | 526 | | | 1 | | | 230 | | | (81) | | | 676 | | | Total non-interest income (loss) | | $ | 2,153 | | | $ | 683 | | | $ | 328 | | | $ | (78) | | | $ | 3,086 | |
| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended March 31, 2025 | | (Dollars in millions) | | Credit Card | | Consumer Banking | | Commercial Banking(1) | | Other(1) | | Consolidated Total | | Contract revenue: | | | | | | | | | | | Interchange fees, net(2) | | $ | 1,085 | | | $ | 115 | | | $ | 23 | | | $ | 0 | | | $ | 1,223 | | | Service charges and other customer-related fees | | 0 | | | 20 | | | 85 | | | 0 | | | 105 | | | Other | | 111 | | | 49 | | | 1 | | | 0 | | | 161 | | | Total contract revenue | | 1,196 | | | 184 | | | 109 | | | 0 | | | 1,489 | | | Revenue (reduction) from other sources | | 315 | | | (1) | | | 203 | | | (19) | | | 498 | | | Total non-interest income (loss) | | $ | 1,511 | | | $ | 183 | | | $ | 312 | | | $ | (19) | | | $ | 1,987 | |
__________ (1)Some of our commercial investments generate tax-exempt income, tax credits or other tax benefits. Accordingly, we present our Commercial Banking revenue and yields on a taxable-equivalent basis, calculated using a blended federal and state statutory tax rate, with offsetting reductions to the Other category. (2)Discount and interchange fees are presented net of customer reward expenses.
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