Financial Highlights
For the years ended, and at, December 31, 2023
(in millions unless otherwise stated except for per share data and ratios)
| Financial Highlights | 2023 | 2022 | 2021 |
|---|---|---|---|
| Net interest income | 2023: $ 16,999 | 2022: $ 15,625 | 2021: $ 14,239 |
| Interest and fees on loans | 2023: $ 19,902 | 2022: $ 16,881 | 2021: $ 15,228 |
| Net earnings | 2023: $ 2,238 | 2022: $ 3,016 | 2021: $ 4,221 |
| Diluted earnings per share | 2023: $ 5.19 | 2022: $ 6.15 | 2021: $ 7.34 |
| Shares outstandingSee footnote 1 | 2023: 423.5 | 2022: 483.4 | 2021: 569.3 |
| Period End | |||
| Total assets | 2023: $ 117,479 | 2022: $ 104,564 | 2021: $ 95,748 |
| Loan receivables | 2023: $ 102,988 | 2022: $ 92,470 | 2021: $ 80,740 |
| Deposits | 2023: $ 81,153 | 2022: $ 71,735 | 2021: $ 62,270 |
| Common equity Tier 1 capital ratioSee footnote 2 | 2023: 12.2% | 2022: 13.3% | 2021: 16.1% |
| Performance Metrics | |||
| Purchase volume (in billions)See footnote 3 | 2023: $ 185.2 | 2022: $ 180.2 | 2021: $ 165.9 |
| Period-end active accounts (in thousands)See footnote 4 | 2023: 73,484 | 2022: 70,763 | 2021: 72,420 |
| Average active accounts (in thousands)See footnote 4 | 2023: 70,337 | 2022: 68,627 | 2021: 67,343 |
| Net interest marginSee footnote 5 | 2023: 15.15% | 2022: 15.63% | 2021: 14.74% |
| Net charge-off rateSee footnote 6 | 2023: 4.87% | 2022: 3.00% | 2021: 2.92% |
| 30+ delinquency rateSee footnote 7 | 2023: 4.74% | 2022: 3.65% | 2021: 2.62% |
| Efficiency ratioSee footnote 8 | 2023: 34.9% | 2022: 37.2% | 2021: 38.9% |
| Return on assetsSee footnote 9 | 2023: 2.0% | 2022: 3.1% | 2021: 4.5% |
- Diluted weighted average common shares outstanding.
- Prior-period amounts have been recast to reflect the change in presentation of contract costs related to our retailer partner agreements on our Statement of Financial Condition. See Form 10-K for the fiscal year ended December 31, 2023, Note 2. Basis of Presentation and Summary of Significant Accounting Policies to our consolidated financial statements for additional information.
- Purchase volume, or net credit sales, represents the aggregate amount of charges incurred on credit cards or other credit product accounts less returns during the period. Purchase volume includes activity related to our portfolios classified as held for sale.
- Active accounts represent credit card or installment loan accounts on which there has been a purchase, payment or outstanding balance in the current month. Includes activity and accounts associated with loan receivables held for sale.
- Net interest margin represents net interest income divided by average interest-earning assets.
- Net charge-off rate represents net charge-offs as a percentage of average loan receivables, including those held for sale.
- Based on customer statement-end balances extrapolated to the respective period-end date.
- Efficiency ratio is calculated as Total Other expense divided by sum of Net interest income plus Other income less Retailer share arrangements (RSA).
- Return on assets represents net earnings as a percentage of average total assets.
