Synchrony Financial 2026年季度报告

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934 For the quarterly period ended March31, 2026OR TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934 For the transition period fromto SYNCHRONY FINANCIAL (Exact name of registrant as specified in its charter) (Registrant’s telephone number, including area code)-(203) 585-2400 Securities Registered Pursuant to Section 12(b) of the Act: Trading Symbol(s)SYFSYFPrA Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d) of theSecurities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to filesuch reports), and (2)has been subject to such filing requirements for the past 90 days.Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to besubmitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorterperiod that the registrant was required to submit such files).Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, asmaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,”“smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act. If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition periodfor complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the ExchangeAct.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the ExchangeAct).Yes☐No☒ The number of shares of the registrant’s common stock, par value $0.001 per share, outstanding as of April17, 2026 was336,951,336. Synchrony Financial PART I - FINANCIAL INFORMATIONItem 2. Management's Discussion and Analysis of Financial Condition and Results of OperationsItem 1. Financial Statements:Index to Condensed Consolidated Financial StatementsCondensed Consolidated Statements of Earnings –Three months ended March 31, 2026 and 2025Condensed Consolidated Statements of Comprehensive Income –Three months ended March 31, 2026 and 2025Condensed Consolidated Statements of Financial Position –March 31, 2026 and December 31, 2025Condensed Consolidated Statements of Changes in Equity –Three months ended March 31, 2026 and 2025Condensed Consolidated Statements of Cash Flows –Three months ended March 31, 2026 and 2025Notes to Condensed Consolidated Financial StatementsItem 3. Quantitative and Qualitative Disclosures About Market RiskItem 4. Controls and ProceduresPART II - OTHER INFORMATIONItem 1. Legal ProceedingsItem 1A. Risk FactorsItem 2. Unregistered Sales of Equity Securities and Use of ProceedsItem 3. Defaults Upon Senior SecuritiesItem 4. Mine Safety DisclosuresItem 5. Other InformationItem 6. ExhibitsSignatures Table of Contents 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);•the “Board of Directors” or “Board” are to Synchrony's board of directors;•“CECL” are to the impairment model known as the Current Expected Credit Loss model, which is based on expectedcredit losses;•“Dodd-Frank Act” are to the Dodd-Frank Wall Street Reform and Consumer Protection Act;•“Exchange Act” are to the Securities Exchange Act of 1934, as amended;•“Fitch” are to Fitch Ratings, Inc.;•“Moody's” are to Moody’s Investor Services, Inc.; and•“VantageScore” are to a credit score developed by the three major credit reporting agencies which is used as a means ofevaluating the likelihood that credit users will pay their obligations. We provide a range of credit products through programs we have established with a diverse group of national and regionalretailers, local merchants, manufacturers, buying groups, industry associations and healthcare service providers, which, in ourbusiness and in this report, we refer to as our “partners.” The terms of the programs all require cooperative efforts between us andour partners of varying natures and degrees to establish and operate the programs. Our use of the term “partners” to refer tothese entities is not intended to, and does not, describe our legal relationship with them, imply that a legal partnership or otherrelationship exists between the parties or create any legal partnership or other relationship. 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 vo