Synchrony Financial 2025年季度报告

SYNCHRONY FINANCIAL Title of each classCommon stock, par value $0.001 per shareDepositary Shares Each Representing a 1/40thInterest in a Share of 5.625% Fixed RateNon-CumulativePerpetual Preferred Stock, SeriesADepositary Shares Each Representing a 1/40th shorter period that the registrant was required to submit such files).Yes Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer,a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated If an emerging growth company, indicate by check mark if the registrant has elected not to use the extendedtransition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange The number of shares of the registrant’s common stock, par value $0.001 per share, outstanding as of April18, 2025was380,650,709. Synchrony Financial PART I - FINANCIAL INFORMATION Item 1. Financial Statements:Index to Condensed Consolidated Financial StatementsCondensed Consolidated Statements of Earnings –Three months ended March 31, 2025 and 2024Condensed Consolidated Statements of Comprehensive Income –Three months ended March 31, 2025 and 2024Condensed Consolidated Statements of Financial Position –March 31, 2025 and December 31, 2024Condensed Consolidated Statements of Changes in Equity –Three months ended March 31, 2025 and 2024Condensed Consolidated Statements of Cash Flows –Three months ended March 31, 2025 and 2024Notes to Condensed Consolidated Financial StatementsItem 3. Quantitative and Qualitative Disclosures About Market RiskItem 4. Controls and Procedures Certain Defined Terms Except as the context may otherwise require in this report, references to: •“we,” “us,” “our” and the “Company” are to SYNCHRONY FINANCIAL and its subsidiaries;•“Synchrony” are to SYNCHRONY FINANCIAL only;•the “Bank” are to Synchrony Bank (a subsidiary of Synchrony); We provide a range of credit products through programs we have established with a diverse group of national andregional retailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers,which, in our business and in this report, we refer to as our “partners.” The terms of the programs all require cooperativeefforts between us and our partners of varying natures and degrees to establish and operate the programs. Our use of the Unless otherwise indicated, references to “loan receivables” do not include loan receivables held for sale. For a description of certain other terms we use, including “active account” and “purchase volume,” see the notes to“Management’s Discussion and Analysis—Results of Operations—Other Financial and Statistical Data” in our AnnualReport on Form 10-K for the year ended December31, 2024 (our “2024 Form 10-K”). There is no standard industry “Synchrony” and its logos and other trademarks referred to in this report, including CareCredit®, Quickscreen®, DualCard™, Synchrony Car Care™ and SyPI™, belong to us. Solely for convenience, we refer to our trademarks in this reportwithout the ™ and®symbols, but such references are not intended to indicate that we will not assert, to the fullest extent On our website at https://investors.synchrony.com, we make available under the "Filings & Regulatory-SEC Filings" menuselection, free of charge, our Annual Reports on Form 10-K, Quarterly Reports on Form 10-Q, Current Reports on Form8-K and amendments to these reports filed or furnished pursuant to Section 13(a) or 15(d) of the Securities Exchange Actof 1934, as amended (the "Exchange Act") as soon as reasonably practicable after such reports or amendments are Cautionary Note Regarding Forward-Looking Statements: Various statements in this Quarterly Report on Form 10-Q may contain “forward-looking statements” as defined in Section27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the“Exchange Act”), which are subject to the “safe harbor” created by those sections. Forward-looking statements may beidentified by words such as “expects,” “intends,” “anticipates,” “plans,” “believes,” “seeks,” “targets,” “outlook,” “estimates,” Forward-looking statements are based on management’s current expectations and assumptions, and are subject toinherent uncertainties, risks and changes in circumstances that are difficult to predict. As a result, actual results coulddiffer materially from those indicated in these forward-looking statements. Factors that could cause actual results to differmaterially include global political, economic, business, competitive, market, regulatory and other factors and risks, suchas: the impact of macroeconomic conditions, including factors impacting consumer confidence and economic growth inthe United States, such