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Financial Highlights

For the years ended, and at, December 31

(in millions unless otherwise stated except for per share data and ratios)

FINANCIAL HIGHLIGHTS 2022 2021 2020
Net interest income $15,625 $14,239 $14,402
Interest and fees on loans $16,881 $15,228 $15,950
Net earnings $3,016 $4,221 $1,385
Diluted earnings per share $6.15 $7.34 $2.27
Shares outstanding1 483.4 569.3 590.8
PERIOD END
Total assets $104,564 $95,748 $95,948
Loan receivables $92,470 $80,740 $81,867
Deposits $71,735 $62,270 $62,782
Common equity Tier 1 capital ratio 12.8% 15.6% 15.9%
PERFORMANCE METRICS
Purchase volume (in billions)2 $180.2 $165.9 $139.1
Period-end active accounts (in thousands)3 70,763 72,420 68,540
Average active accounts (in thousands)3 68,627 67,334 67,131
Net interest margin4 15.63% 14.74% 14.29%
Net charge-off rate5 3.00% 2.92% 4.58%
30+ delinquency rate6 3.65% 2.62% 3.07%
Efficiency ratio7 37.2% 38.9% 36.3%
Return on assets8 3.1% 4.5% 1.4%
  1. Diluted weighted average common shares outstanding.
  2. 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.
  3. 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.
  4. Net interest margin represents net interest income divided by average interest-earning assets.
  5. Net charge-off rate represents net charge-offs as a percentage of average loan receivables, including those held for sale.
  6. Based on customer statement-end balances extrapolated to the respective period-end date.
  7. Efficiency ratio represents (i) other expense, divided by (ii) net interest income, plus other income, less retailer share agreements.
  8. Return on assets represents net earnings as a percentage of average total assets.