CREDIT CARD AND LOAN RECEIVABLES (Tables)

12 Months Ended

Dec. 31, 2019

CREDIT CARD AND LOAN RECEIVABLES

Schedule of components of total credit card and loan receivables

	December 31,		December 31,
	2019		2018
	(in millions)
Principal receivables	$	18,413.1	$	16,869.9
Billed and accrued finance charges		977.3		898.3
Other		72.7		86.8
Total credit card and loan receivables		19,463.1		17,855.0
Less: Credit card receivables – restricted for securitization investors		13,504.2		13,418.3
Other credit card and loan receivables	$	5,958.9	$	4,436.7

Schedule of Company's allowance for loan loss

	Years Ended December 31,
	2019		2018		2017
	(in millions)
Balance at beginning of year	$	1,038.3	$	1,119.3	$	948.0
Provision for loan loss		1,187.5		1,016.0		1,140.1
Allowance associated with credit card and loan receivables transferred to held for sale		—		(54.8)		(27.9)
Change in estimate for uncollectible unpaid interest and fees		—		25.0		30.0
Recoveries		234.5		214.2		196.6
Principal charge-offs		(1,289.2)		(1,281.4)		(1,167.5)
Balance at end of year	$	1,171.1	$	1,038.3	$	1,119.3

Schedule of delinquency trends of the Company's credit card and loan receivables portfolio

	December 31,		% of		December 31,		% of
	2019		Total		2018		Total
	(in millions, except percentages)
Receivables outstanding - principal	$	18,413.1	100.0	%	$	16,869.9	100.0	%
Principal receivables balances contractually delinquent:
31 to 60 days	$	337.4	1.8	%	$	303.2	1.8	%
61 to 90 days		233.6	1.3			207.9	1.3
91 or more days		496.5	2.7			443.4	2.6
Total	$	1,067.5	5.8	%	$	954.5	5.7	%

Schedule of information on credit card and loan receivables that are considered troubled debt restructurings, which entered into a modification program

	Year Ended December 31, 2019					Year Ended December 31, 2018
		Pre-		Post-			Pre-		Post-
		modification		modification			modification		modification
	Number of	Outstanding		Outstanding		Number of	Outstanding		Outstanding
	Restructurings	Balance		Balance		Restructurings	Balance		Balance
	(Dollars in millions)
Troubled debt restructurings – credit card receivables	259,311	$	381.4	$	380.8	501,906	$	621.4	$	620.7

The tables below summarize troubled debt restructurings that have defaulted in the specified periods where the default occurred within 12 months of their modification date:

	Year Ended December 31, 2019			Year Ended December 31, 2018
	Number of	Outstanding		Number of	Outstanding
	Restructurings	Balance		Restructurings	Balance
	(Dollars in millions)
Troubled debt restructurings that subsequently defaulted – credit card receivables	126,476	$	170.8	293,591	$	340.5

Schedule of number of active credit card and loan accounts with balances and the related principal balances outstanding, based upon the age of the active credit card accounts from origination

	December 31, 2019
						Percentage of
	Number of	Percentage of		Principal		Principal
	Active Accounts	Active Accounts		Receivables		Receivables
Age of Accounts Since Origination	with Balances	with Balances		Outstanding		Outstanding
	(in millions, except percentages)
0-12 Months	7.1	27.8	%	$	4,585.1	24.9	%
13-24 Months	3.9	15.3			2,826.6	15.4
25-36 Months	3.2	12.6			2,423.1	13.2
37-48 Months	2.5	9.7			2,051.7	11.1
49-60 Months	1.8	7.0			1,509.7	8.2
Over 60 Months	7.0	27.6			5,016.9	27.2
Total	25.5	100.0	%	$	18,413.1	100.0	%

	December 31, 2018
						Percentage of
	Number of	Percentage of		Principal		Principal
	Active Accounts	Active Accounts		Receivables		Receivables
Age of Accounts Since Origination	with Balances	with Balances		Outstanding		Outstanding
	(in millions, except percentages)
0-12 Months	6.5	26.7	%	$	4,099.9	24.3	%
13-24 Months	4.2	17.1			2,887.8	17.1
25-36 Months	3.1	13.0			2,428.9	14.4
37-48 Months	2.2	9.1			1,795.0	10.7
49-60 Months	1.7	7.1			1,367.2	8.1
Over 60 Months	6.5	27.0			4,291.1	25.4
Total	24.2	100.0	%	$	16,869.9	100.0	%

Schedule of composition of obligor credit quality

	December 31, 2019				December 31, 2018
			Percentage of				Percentage of
	Total Principal		Principal		Total Principal		Principal
Probability of an Account Becoming 91 or More Days Past	Receivables		Receivables		Receivables		Receivables
Due or Becoming Charged-off (within the next 12 months)	Outstanding		Outstanding		Outstanding		Outstanding
	(in millions, except percentages)
No Score	$	290.0	1.6	%	$	249.0	1.5	%
27.1% and higher		1,591.4	8.6			1,394.0	8.2
17.1% - 27.0%		1,065.4	5.8			770.1	4.6
12.6% - 17.0%		1,127.7	6.1			1,047.6	6.2
3.7% - 12.5%		7,985.8	43.4			6,877.6	40.8
1.9% - 3.6%		3,285.3	17.8			3,060.7	18.1
Lower than 1.9%		3,067.5	16.7			3,470.9	20.6
Total	$	18,413.1	100.0	%	$	16,869.9	100.0	%

Schedule of securitized credit card receivables, delinquencies and net charge-offs

	December 31,		December 31,
	2019		2018
	(in millions)
Total credit card receivables – restricted for securitization investors	$	13,504.2	$	13,418.3
Principal amount of credit card receivables – restricted for securitization investors, 91 days or more past due	$	321.8	$	301.6

	Years Ended December 31,
	2019		2018		2017
	(in millions)
Net charge-offs of securitized principal	$	907.7	$	927.0	$	741.1