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.2
SYNCHRONY FINANCIAL
FINANCIAL SUMMARY
(unaudited, in millions, except per share statistics)
Quarter Ended
Mar 31,
2026		Dec 31,
2025		Sep 30,
2025		Jun 30,
 2025		Mar 31,
2025		1Q'26 vs. 1Q'25
EARNINGS
Net interest income$4,635 $4,761 $4,720 $4,521 $4,464 $171 3.8 %
Retailer share arrangements(1,070)(1,094)(1,024)(992)(895)(175)19.6 %
Provision for credit losses1,335 1,442 1,146 1,146 1,491 (156)(10.5)%
Net interest income, after retailer share arrangements and provision for credit losses2,230 2,225 2,550 2,383 2,078 152 7.3 %
Other income133 126 127 118 149 (16)(10.7)%
Other expense1,316 1,399 1,248 1,245 1,243 73 5.9 %
Earnings before provision for income taxes1,047 952 1,429 1,256 984 63 6.4 %
Provision for income taxes242 201 352 289 227 15 6.6 %
Net earnings$805 $751 $1,077 $967 $757 $48 6.3 %
Net earnings available to common stockholders$784 $730 $1,057 $946 $736 $48 6.5 %
COMMON SHARE STATISTICS
Basic EPS $2.29 $2.07 $2.89 $2.51 $1.91 $0.38 19.9 %
Diluted EPS $2.27 $2.04 $2.86 $2.50 $1.89 $0.38 20.1 %
Dividend declared per share$0.30 $0.30 $0.30 $0.30 $0.25 $0.05 20.0 %
Common stock price$68.02 $83.43 $71.05 $66.74 $52.94 $15.08 28.5 %
Book value per share $45.29 $44.74 $44.00 $42.30 $40.37 $4.92 12.2 %
Tangible book value per share(1)
$37.62 $37.21 $37.93 $36.55 $34.79 $2.83 8.1 %
Beginning common shares outstanding347.4 360.1 371.9 380.5 388.3 (40.9)(10.5)%
Issuance of common shares— — — — — — NM
Stock-based compensation1.9 0.3 0.3 0.2 2.0 (0.1)(5.0)%
Shares repurchased(12.5)(13.0)(12.1)(8.8)(9.8)(2.7)27.6 %
Ending common shares outstanding336.8 347.4 360.1 371.9 380.5 (43.7)(11.5)%
Weighted average common shares outstanding 342.4 352.7 365.9 376.2 385.2 (42.8)(11.1)%
Weighted average common shares outstanding (fully diluted) 346.0 357.6 369.9 379.1 389.4 (43.4)(11.1)%
(1) Tangible book value per share is a non-GAAP measure, calculated based on Tangible common equity divided by common shares outstanding. For corresponding reconciliation of this measure to a GAAP financial measure, see Reconciliation of Non-GAAP Measures and Calculations of Regulatory Measures.
1

SYNCHRONY FINANCIAL
SELECTED METRICS
(unaudited, $ in millions)
Quarter Ended
Mar 31,
2026		Dec 31,
2025		Sep 30,
2025		Jun 30,
2025		Mar 31,
2025		1Q'26 vs. 1Q'25
PERFORMANCE METRICS
Return on assets(1)
2.7 %2.5 %3.6 %3.2 %2.5 %0.2 %
Return on equity(2)
19.5 %17.6 %25.1 %23.1 %18.4 %1.1 %
Return on tangible common equity(3)
24.5 %21.8 %30.6 %28.3 %22.4 %2.1 %
Net interest margin(4)
15.50 %15.83 %15.62 %14.78 %14.74 %0.76 %
Efficiency ratio(5)
35.6 %36.9 %32.6 %34.1 %33.4 %2.2 %
Other expense as a % of average loan receivables, including held for sale5.30 %5.50 %4.96 %5.03 %4.99 %0.31 %
Effective income tax rate23.1 %21.1 %24.6 %23.0 %23.1 %— %
CREDIT QUALITY METRICS
Net charge-offs as a % of average loan receivables, including held for sale5.42 %5.37 %5.16 %5.70 %6.38 %(0.96)%
30+ days past due as a % of period-end loan receivables(6)
4.54 %4.49 %4.39 %4.18 %4.52 %0.02 %
90+ days past due as a % of period-end loan receivables(6)
2.28 %2.17 %2.12 %2.06 %2.29 %(0.01)%
Net charge-offs$1,346 $1,367 $1,298 $1,411 $1,588 $(242)(15.2)%
Loan receivables delinquent over 30 days(6)
$4,543 $4,660 $4,400 $4,173 $4,505 $38 0.8 %
Loan receivables delinquent over 90 days(6)
$2,284 $2,248 $2,128 $2,059 $2,285 $(1)— %
Allowance for credit losses (period-end)$10,428 $10,442 $10,373 $10,564 $10,828 $(400)(3.7)%
Allowance coverage ratio(7)
10.42 %10.06 %10.35 %10.59 %10.87 %(0.45)%
BUSINESS METRICS
Purchase volume(8)
$42,984 $49,476 $46,005 $46,084 $40,720 $2,264 5.6 %
Period-end loan receivables$100,085 $103,808 $100,178 $99,776 $99,608 $477 0.5 %
Credit cards$92,764 $96,346 $92,550 $92,036 $91,909 $855 0.9 %
Consumer installment loans$5,357 $5,548 $5,584 $5,669 $5,736 $(379)(6.6)%
Commercial credit products$1,886 $1,833 $1,961 $1,980 $1,859 $27 1.5 %
Other$78 $81 $83 $91 $104 $(26)(25.0)%
Average loan receivables, including held for sale$100,693 $100,982 $99,885 $99,236 $101,021 $(328)(0.3)%
Period-end active accounts (in thousands)(9)
67,828 70,693 68,585 68,186 67,787 41 0.1 %
Average active accounts (in thousands)(9)
68,815 69,304 68,318 68,050 69,315 (500)(0.7)%
LIQUIDITY
Liquid assets
Cash and equivalents$20,559 $14,973 $16,245 $19,457 $21,629 $(1,070)(4.9)%
Total liquid assets$22,845 $16,562 $18,234 $21,796 $23,817 $(972)(4.1)%
Undrawn credit facilities
Undrawn credit facilities$2,125 $2,125 $2,125 $2,625 $2,625 $(500)(19.0)%
Total liquid assets and undrawn credit facilities(10)
$24,970 $18,687 $20,359 $24,421 $26,442 $(1,472)(5.6)%
Liquid assets % of total assets18.80 %13.91 %15.59 %18.09 %19.52 %(0.72)%
Liquid assets including undrawn credit facilities % of total assets20.55 %15.69 %17.40 %20.27 %21.67 %(1.12)%
(1) Return on assets represents annualized net earnings as a percentage of average total assets.
(2) Return on equity represents annualized net earnings as a percentage of average total equity.
(3) Return on tangible common equity represents annualized net earnings available to common stockholders as a percentage of average tangible common equity. Tangible common equity ("TCE") is a non-GAAP measure. For corresponding reconciliation of TCE to a GAAP financial measure, see Reconciliation of Non-GAAP Measures and Calculations of Regulatory Measures.
(4) Net interest margin represents annualized net interest income divided by average total interest-earning assets.
(5) Efficiency ratio represents (i) other expense, divided by (ii) net interest income, plus other income, less retailer share arrangements.
(6) Based on customer statement-end balances extrapolated to the respective period-end date.
(7) Allowance coverage ratio represents allowance for credit losses divided by total period-end loan receivables.
(8) 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.
(9) Active accounts represent credit card or installment loan accounts on which there has been a purchase, payment or outstanding balance in the current month.
(10) Excludes uncommitted credit facilities and available borrowing capacity related to unencumbered assets
2

SYNCHRONY FINANCIAL
STATEMENTS OF EARNINGS
(unaudited, $ in millions)
Quarter Ended
Mar 31,
2026		Dec 31,
2025		Sep 30,
2025		Jun 30,
 2025		Mar 31,
 2025		1Q'26 vs. 1Q'25
Interest income:
Interest and fees on loans$5,413 $5,548 $5,510 $5,328 $5,312 $101 1.9 %
Interest on cash and debt securities190 186 221 258 238 (48)(20.2)%
Total interest income5,603 5,734 5,731 5,586 5,550 53 1.0 %
Interest expense:
Interest on deposits770 781 812 855 882 (112)(12.7)%
Interest on borrowings of consolidated securitization entities106 104 105 104 104 2 1.9 %
Interest on senior unsecured notes92 88 94 106 100 (8)(8.0)%
Total interest expense968 973 1,011 1,065 1,086 (118)(10.9)%
Net interest income4,635 4,761 4,720 4,521 4,464 171 3.8 %
Retailer share arrangements(1,070)(1,094)(1,024)(992)(895)(175)19.6 %
Provision for credit losses1,335 1,442 1,146 1,146 1,491 (156)(10.5)%
Net interest income, after retailer share arrangements and provision for credit losses2,230 2,225 2,550 2,383 2,078 152 7.3 %
Other income:
Interchange revenue264 289 272 268 238 26 10.9 %
Protection product revenue161 156 149 144 147 14 9.5 %
Loyalty programs(361)(399)(368)(360)(311)(50)16.1 %
Other69 80 74 66 75 (6)(8.0)%
Total other income133 126 127 118 149 (16)(10.7)%
Other expense:
Employee costs515 575 503 509 506 9 1.8 %
Professional fees209 243 240 236 217 (8)(3.7)%
Marketing and business development114 148 120 127 116 (2)(1.7)%
Information processing262 239 226 215 219 43 19.6 %
Other216 194 159 158 185 31 16.8 %
Total other expense1,316 1,399 1,248 1,245 1,243 73 5.9 %
Earnings before provision for income taxes1,047 952 1,429 1,256 984 63 6.4 %
Provision for income taxes242 201 352 289 227 15 6.6 %
Net earnings$805 $751 $1,077 $967 $757 $48 6.3 %
Net earnings available to common stockholders$784 $730 $1,057 $946 $736 $48 6.5 %

3

SYNCHRONY FINANCIAL
STATEMENTS OF FINANCIAL POSITION
(unaudited, $ in millions)
Quarter Ended
Mar 31,
2026		Dec 31,
2025		Sep 30,
2025		Jun 30,
 2025		Mar 31,
 2025		Mar 31, 2026 vs. Mar 31, 2025
Assets
Cash and equivalents$20,559 $14,973 $16,245 $19,457 $21,629 $(1,070)(4.9)%
Debt securities3,040 2,348 2,716 2,905 2,724 316 11.6 %
Loan receivables:
Unsecuritized loans held for investment78,423 81,408 79,207 78,566 79,186 (763)(1.0)%
Restricted loans of consolidated securitization entities21,662 22,400 20,971 21,210 20,422 1,240 6.1 %
Total loan receivables100,085 103,808 100,178 99,776 99,608 477 0.5 %
Less: Allowance for credit losses(10,428)(10,442)(10,373)(10,564)(10,828)400 (3.7)%
Loan receivables, net89,657 93,366 89,805 89,212 88,780 877 1.0 %
Loan receivables held for sale— — 192 191 — — — %
Goodwill1,363 1,363 1,274 1,274 1,274 89 7.0 %
Intangible assets, net1,223 1,255 909 862 847 376 44.4 %
Other assets5,659 5,790 5,843 6,604 6,772 (1,113)(16.4)%
Total assets$121,501 $119,095 $116,984 $120,505 $122,026 $(525)(0.4)%
Liabilities and Equity
Deposits:
Interest-bearing deposit accounts$82,478 $80,748 $79,513 $81,857 $83,030 $(552)(0.7)%
Non-interest-bearing deposit accounts416 396 373 405 405 11 2.7 %
Total deposits82,894 81,144 79,886 82,262 83,435 (541)(0.6)%
Borrowings:
Borrowings of consolidated securitization entities8,915 8,415 7,666 8,340 8,591 324 3.8 %
Senior and Subordinated unsecured notes7,513 6,767 6,765 7,669 8,418 (905)(10.8)%
Total borrowings16,428 15,182 14,431 16,009 17,009 (581)(3.4)%
Accrued expenses and other liabilities5,702 6,003 5,602 5,282 5,001 701 14.0 %
Total liabilities105,024 102,329 99,919 103,553 105,445 (421)(0.4)%
Equity:
Preferred stock1,222 1,222 1,222 1,222 1,222 — — %
Common stock1 1 1 1 1 — — %
Additional paid-in capital9,844 9,902 9,866 9,836 9,804 40 0.4 %
Retained earnings25,210 24,598 23,978 23,036 22,209 3,001 13.5 %
Accumulated other comprehensive income (loss)(56)(48)(46)(45)(53)(3)5.7 %
Treasury stock(19,744)(18,909)(17,956)(17,098)(16,602)(3,142)18.9 %
Total equity16,477 16,766 17,065 16,952 16,581 (104)(0.6)%
Total liabilities and equity$121,501 $119,095 $116,984 $120,505 $122,026 $(525)(0.4)%

4

SYNCHRONY FINANCIAL
AVERAGE BALANCES, NET INTEREST INCOME AND NET INTEREST MARGIN
(unaudited, $ in millions)
Quarter Ended
Mar 31, 2026Dec 31, 2025Sep 30, 2025Jun 30, 2025Mar 31, 2025
InterestAverageInterestAverageInterestAverageInterestAverageInterestAverage
AverageIncome/Yield/AverageIncome/Yield/AverageIncome/Yield/AverageIncome/Yield/AverageIncome/Yield/
BalanceExpense
Rate(1)
BalanceExpense
Rate(1)
BalanceExpense
Rate(1)
BalanceExpense
Rate(1)
BalanceExpense
Rate(1)
Assets
Interest-earning assets:
Interest-earning cash and equivalents$17,992 $163 3.67 %$15,679 $158 4.00 %$17,131 $187 4.33 %$20,699 $228 4.42 %$18,539 $203 4.44 %
Securities available for sale2,595 27 4.22 %2,635 28 4.22 %2,872 34 4.70 %2,774 30 4.34 %3,231 35 4.39 %
Loan receivables, including held for sale:
Credit cards93,290 5,152 22.40 %93,389 5,297 22.50 %92,176 5,255 22.62 %91,460 5,076 22.26 %93,241 5,055 21.99 %
Consumer installment loans5,465 188 13.95 %5,548 198 14.16 %5,618 208 14.69 %5,692 207 14.59 %5,833 211 14.67 %
Commercial credit products1,857 72 15.72 %1,962 52 10.52 %2,006 46 9.10 %1,981 43 8.71 %1,842 45 9.91 %
Other81 1 5.01 %83 1 4.78 %85 1 4.67 %103 2 7.79 %105 1 3.86 %
Total loan receivables, including held for sale100,693 5,413 21.80 %100,982 5,548 21.80 %99,885 5,510 21.89 %99,236 5,328 21.54 %101,021 5,312 21.33 %
Total interest-earning assets121,280 5,603 18.74 %119,296 5,734 19.07 %119,888 5,731 18.97 %122,709 5,586 18.26 %122,791 5,550 18.33 %
Non-interest-earning assets:
Cash and due from banks976 864 892 868 868 
Allowance for credit losses(10,431)(10,391)(10,536)(10,797)(10,936)
Other assets8,223 8,131 7,913 7,661 7,770 
Total non-interest-earning assets(1,232)(1,396)(1,731)(2,268)(2,298)
Total assets$120,048 $117,900 $118,157 $120,441 $120,493 
Liabilities
Interest-bearing liabilities:
Interest-bearing deposit accounts$81,704 $770 3.82 %$80,117 $781 3.87 %$80,442 $812 4.00 %$82,014 $855 4.18 %$82,370 $882 4.34 %
Borrowings of consolidated securitization entities8,482 106 5.07 %8,032 104 5.14 %7,768 105 5.36 %7,926 104 5.26 %8,191 104 5.15 %
Senior and Subordinated unsecured notes7,056 92 5.29 %6,765 88 5.16 %7,209 94 5.17 %8,269 106 5.14 %7,850 100 5.17 %
Total interest-bearing liabilities97,242 968 4.04 %94,914 973 4.07 %95,419 1,011 4.20 %98,209 1,065 4.35 %98,411 1,086 4.48 %
Non-interest-bearing liabilities
Non-interest-bearing deposit accounts414 382 410 412 418 
Other liabilities5,621 5,667 5,287 5,065 4,969 
Total non-interest-bearing liabilities6,035 6,049 5,697 5,477 5,387 
Total liabilities103,277 100,963 101,116 103,686 103,798 
Equity
Total equity16,771 16,937 17,041 16,755 16,695 
Total liabilities and equity$120,048 $117,900 $118,157 $120,441 $120,493 
Net interest income$4,635 $4,761 $4,720 $4,521 $4,464 
Interest rate spread(2)
14.70 %15.00 %14.76 %13.91 %13.86 %
Net interest margin(3)
15.50 %15.83 %15.62 %14.78 %14.74 %
(1) Average yields/rates are based on annualized total interest income/expense divided by average balances.
(2) Interest rate spread represents the difference between the yield on total interest-earning assets and the rate on total interest-bearing liabilities.
(3) Net interest margin represents annualized net interest income divided by average total interest-earning assets.

5

SYNCHRONY FINANCIAL
BALANCE SHEET STATISTICS
(unaudited, $ in millions, except per share statistics)
Quarter Ended
Mar 31,
2026		Dec 31,
2025		Sep 30,
2025		Jun 30,
 2025		Mar 31,
 2025		Mar 31, 2026 vs.
Mar 31, 2025
BALANCE SHEET STATISTICS
Total common equity$15,255 $15,544 $15,843 $15,730 $15,359 $(104)(0.7)%
Total common equity as a % of total assets12.56 %13.05 %13.54 %13.05 %12.59 %(0.03)%
Tangible assets$118,915 $116,477 $114,801 $118,369 $119,905 $(990)(0.8)%
Tangible common equity(1)
$12,669 $12,926 $13,660 $13,594 $13,238 $(569)(4.3)%
Tangible common equity as a % of tangible assets(1)
10.65 %11.10 %11.90 %11.48 %11.04 %(0.39)%
Tangible book value per share(2)
$37.62 $37.21 $37.93 $36.55 $34.79 $2.83 8.1 %
REGULATORY CAPITAL RATIOS(3)
Basel III
Total risk-based capital ratio(4)
16.0 %15.8 %16.9 %16.9 %16.5 %
Tier 1 risk-based capital ratio(5)
13.9 %13.8 %14.9 %14.8 %14.4 %
Tier 1 leverage ratio(6)
12.1 %12.5 %13.0 %12.7 %12.4 %
Common equity Tier 1 capital ratio12.7 %12.6 %13.7 %13.6 %13.2 %
(1) Tangible common equity ("TCE") is a non-GAAP measure. We believe TCE is a more meaningful measure of the net asset value of the Company to investors. For corresponding reconciliation of TCE to a GAAP financial measure, see Reconciliation of Non-GAAP Measures and Calculations of Regulatory Measures.
(2) Tangible book value per share is a non-GAAP measure, calculated based on Tangible common equity divided by common shares outstanding. For corresponding reconciliation of this measure to a GAAP financial measure, see Reconciliation of Non-GAAP Measures and Calculations of Regulatory Measures.
(3) Regulatory capital ratios at March 31, 2026 are preliminary and therefore subject to change.
(4) Total risk-based capital ratio is the ratio of total risk-based capital divided by risk-weighted assets.
(5) Tier 1 risk-based capital ratio is the ratio of Tier 1 capital divided by risk-weighted assets.
(6) Tier 1 leverage ratio is the ratio of Tier 1 capital divided by total average assets, after certain adjustments.

6

SYNCHRONY FINANCIAL
PLATFORM RESULTS
(unaudited, unrounded, $ in millions)
Quarter Ended
Mar 31,
2026		Dec 31,
2025		Sep 30,
2025		Jun 30,
 2025		Mar 31,
 2025		1Q'26 vs. 1Q'25
HOME & AUTO(1)
Purchase volume(2)
$9,443 $10,381 $11,061 $11,459 $9,446 $(3)— %
Period-end loan receivables$29,136 $30,106 $30,295 $30,374 $30,254 $(1,118)(3.7)%
Average loan receivables, including held for sale$29,367 $30,055 $30,260 $30,137 $30,810 $(1,443)(4.7)%
Average active accounts (in thousands)(3)
16,847 17,370 17,749 17,831 17,894 (1,047)(5.9)%
Interest and fees on loans$1,379 $1,444 $1,443 $1,395 $1,402 $(23)(1.6)%
Other income$55 $52 $54 $52 $56 $(1)(1.8)%
DIGITAL
Purchase volume(2)
$13,499 $16,206 $14,044 $13,647 $12,479 $1,020 8.2 %
Period-end loan receivables$28,733 $30,057 $28,179 $27,786 $27,765 $968 3.5 %
Average loan receivables, including held for sale$29,024 $28,676 $27,880 $27,571 $28,216 $808 2.9 %
Average active accounts (in thousands)(3)
21,268 21,352 20,680 20,368 20,711 557 2.7 %
Interest and fees on loans$1,632 $1,663 $1,631 $1,576 $1,544 $88 5.7 %
Other income$9 $(6)$(2)$— $9 $— — %
DIVERSIFIED & VALUE
Purchase volume(2)
$14,926 $17,462 $15,417 $15,393 $13,732 $1,194 8.7 %
Period-end loan receivables$20,269 $21,236 $19,500 $19,510 $19,436 $833 4.3 %
Average loan receivables, including held for sale$20,229 $19,978 $19,440 $19,338 $19,670 $559 2.8 %
Average active accounts (in thousands)(3)
20,416 20,170 19,470 19,471 20,114 302 1.5 %
Interest and fees on loans$1,195 $1,200 $1,192 $1,159 $1,178 $17 1.4 %
Other income$(18)$(13)$(3)$(3)$— $(18)NM
HEALTH & WELLNESS
Purchase volume(2)
$3,871 $3,897 $3,976 $4,007 $3,774 $97 2.6 %
Period-end loan receivables$15,309 $15,545 $15,447 $15,309 $15,193 $116 0.8 %
Average loan receivables, including held for sale$15,373 $15,499 $15,347 $15,215 $15,280 $93 0.6 %
Average active accounts (in thousands)(3)
7,680 7,770 7,730 7,697 7,776 (96)(1.2)%
Interest and fees on loans$948 $979 $967 $923 $914 $34 3.7 %
Other income$80 $79 $73 $66 $75 $5 6.7 %
LIFESTYLE
Purchase volume(2)
$1,245 $1,522 $1,371 $1,432 $1,168 $77 6.6 %
Period-end loan receivables$6,548 $6,771 $6,644 $6,673 $6,636 $(88)(1.3)%
Average loan receivables, including held for sale$6,607 $6,657 $6,652 $6,646 $6,716 $(109)(1.6)%
Average active accounts (in thousands)(3)
2,584 2,589 2,543 2,531 2,651 (67)(2.5)%
Interest and fees on loans$258 $265 $264 $261 $261 $(3)(1.1)%
Other income$11 $11 $11 $9 $10 $1 10.0 %
CORP, OTHER(1)(5)
Purchase volume(2)
$— $8 $136 $146 $121 $(121)(100.0)%
Period-end loan receivables(4)
$90 $93 $113 $124 $324 $(234)(72.2)%
Average loan receivables, including held for sale$93 $117 $306 $329 $329 $(236)(71.7)%
Average active accounts (in thousands)(3)
20 53 146 152 169 (149)(88.2)%
Interest and fees on loans$1 $(3)$13 $14 $13 $(12)(92.3)%
Other income$(4)$3 $(6)$(6)$(1)$(3)NM
TOTAL SYF(5)
Purchase volume(2)
$42,984 $49,476 $46,005 $46,084 $40,720 $2,264 5.6 %
Period-end loan receivables$100,085 $103,808 $100,178 $99,776 $99,608 $477 0.5 %
Average loan receivables, including held for sale$100,693 $100,982 $99,885 $99,236 $101,021 $(328)(0.3)%
Average active accounts (in thousands)(3)
68,815 69,304 68,318 68,050 69,315 (500)(0.7)%
Interest and fees on loans$5,413 $5,548 $5,510 $5,328 $5,312 $101 1.9 %
Other income$133 $126 $127 $118 $149 $(16)(10.7)%
(1) In June 2025, we entered into an agreement to sell $0.2 billion of loan receivables associated with a Home & Auto program agreement. In connection with this agreement, revenue activities for the portfolio were no longer managed within our Home & Auto sales platform, and the portfolio was sold in October 2025. All metrics for the portfolio previously reported within our Home & Auto sales platform are now reported within Corp, Other. We have recast all prior-period reported metrics for our Home & Auto sales platform and Corp, Other to conform to the current-period presentation.
(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.
(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.
(4) Reflects the reclassification of $0.2 billion to loan receivables held for sale in 2Q 2025.
(5) Includes activity and balances (except for Period-end loan receivables) associated with a Home & Auto portfolio which was sold in 4Q 2025.
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SYNCHRONY FINANCIAL
RECONCILIATION OF NON-GAAP MEASURES AND CALCULATIONS OF REGULATORY MEASURES(1)
(unaudited, $ in millions, except per share statistics)
Quarter Ended
Mar 31,
2026		Dec 31,
2025		Sep 30,
2025		Jun 30,
2025		Mar 31,
2025
COMMON EQUITY AND REGULATORY CAPITAL MEASURES
GAAP Total equity$16,477 $16,766 $17,065 $16,952 $16,581 
Less: Preferred stock(1,222)(1,222)(1,222)(1,222)(1,222)
Less: Goodwill(1,363)(1,363)(1,274)(1,274)(1,274)
Less: Intangible assets, net(1,223)(1,255)(909)(862)(847)
Tangible common equity$12,669 $12,926 $13,660 $13,594 $13,238 
Adjustments for certain deferred tax liabilities and certain items in accumulated comprehensive income (loss)316 316 250 209 208 
Common equity Tier 1 $12,985 $13,242 $13,910 $13,803 $13,446 
Preferred stock1,222 1,222 1,222 1,222 1,222 
Tier 1 capital$14,207 $14,464 $15,132 $15,025 $14,668 
Add: Subordinated debt742 742 742 742 742 
Add: Allowance for credit losses includible in risk-based capital1,390 1,426 1,386 1,386 1,388 
Total Risk-based capital$16,339 $16,632 $17,260 $17,153 $16,798 
ASSET MEASURES
Total average assets$120,048 $117,900 $118,157 $120,441 $120,493 
Adjustments for:
Less: Disallowed goodwill and other disallowed intangible assets
(net of related deferred tax liabilities) and other		(2,267)(2,291)(1,917)(1,913)(1,895)
Total assets for leverage purposes$117,781 $115,609 $116,240 $118,528 $118,598 
Risk-weighted assets$102,095 $105,029 $101,884 $101,716 $101,625 
TIER 1 CAPITAL + RESERVES RATIO
Tier 1 capital$14,207 $14,464 $15,132 $15,025 $14,668 
Add: Allowance for credit losses10,428 10,442 10,373 10,564 10,828 
Tier 1 capital + Reserves for credit losses$24,635 $24,906 $25,505 $25,589 $25,496 
TANGIBLE BOOK VALUE PER SHARE
Book value per share$45.29 $44.74 $44.00 $42.30 $40.37 
Less: Goodwill(4.04)(3.92)(3.55)(3.43)(3.35)
Less: Intangible assets, net(3.63)(3.61)(2.52)(2.32)(2.23)
Tangible book value per share$37.62 $37.21 $37.93 $36.55 $34.79 
(1) Regulatory measures at March 31, 2026 are preliminary and therefore subject to change.
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