CREDIT CARD AND LOAN RECEIVABLES (Tables)

3 Months Ended

Mar. 31, 2020

CREDIT CARD AND LOAN RECEIVABLES

Schedule of components of total credit card and loan receivables

	March 31,		December 31,
	2020		2019
	(in millions)
Principal receivables	$	16,725.4	$	18,413.1
Billed and accrued finance charges		933.5		977.3
Other		73.0		72.7
Total credit card and loan receivables		17,731.9		19,463.1
Less: Credit card receivables – restricted for securitization investors		12,033.4		13,504.2
Other credit card and loan receivables	$	5,698.5	$	5,958.9

Schedule of Company's group similar risk characteristics and estimated life

	Estimated Life
	(in months)
Group A (Current, risk score - high)		14
Group B (Current, risk score - low)		19
Group C (Delinquent, risk score - high)		17
Group D (Delinquent, risk score - low)		26

Schedule of aging analysis of total credit card and loan receivables at amortized cost basis

	Aging Analysis of Delinquent Amortized Cost Credit Card and Loan Receivables
	31 to 60 days delinquent		61 to 90 days delinquent		91 or more days delinquent		Total delinquent		Current		Total
	(in millions)
As of March 31, 2020	$	347.6	$	273.8	$	667.1	$	1,288.5	$	16,072.5	$	17,361.0
As of December 31, 2019	$	399.1	$	293.9	$	698.4	$	1,391.4	$	17,656.4	$	19,047.8

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

	Three Months Ended March 31, 2020					Three Months Ended March 31, 2019
		Pre-modification		Post-modification			Pre-modification		Post-modification
	Number of	Outstanding		Outstanding		Number of	Outstanding		Outstanding
	Restructurings	Balance		Balance		Restructurings	Balance		Balance
	(Dollars in millions)
Troubled debt restructurings – credit card receivables	75,065	$	112.8	$	112.7	70,294	$	104.3	$	104.1

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

	Three Months Ended March 31, 2020			Three Months Ended March 31, 2019
	Number of	Outstanding		Number of	Outstanding
	Restructurings	Balance		Restructurings	Balance
	(Dollars in millions)
Troubled debt restructurings that subsequently defaulted – credit card receivables	31,670	$	44.0	50,456	$	65.4

Schedule of Company's allowance for loan loss

	Three Months Ended
	March 31,
	2020		2019
	(in millions)
Balance at beginning of period	$	1,171.1	$	1,038.3
Adoption of ASC 326 (1)		644.0		—
Provision for loan loss		655.9		252.1
Recoveries		67.9		59.8
Principal charge-offs		(388.1)		(329.1)
Balance at end of period	$	2,150.8	$	1,021.1

(1) Recorded January 1, 2020 through a cumulative-effect adjustment to retained earnings, net of taxes.

Schedule of composition of obligor credit quality

	Amortized Cost Revolving Credit Card and Loan Receivables
	March 31, 2020				December 31, 2019
			Percentage of				Percentage of
			Amortized				Amortized
Probability of an Account Becoming 91 or More Days Past	Amortized		Cost Basis		Amortized		Cost Basis
Due or Becoming Charged-off (within the next 12 months)	Cost Basis		Outstanding		Cost Basis		Outstanding
	(in millions, except percentages)
No Score	$	217.5	1.3	%	$	298.4	1.6	%
27.1% and higher		1,580.7	9.1			1,648.8	8.7
17.1% - 27.0%		1,053.7	6.1			1,108.5	5.8
12.6% - 17.0%		1,123.5	6.5			1,171.7	6.2
3.7% - 12.5%		7,828.1	45.1			8,292.1	43.5
1.9% - 3.6%		2,944.8	17.0			3,375.3	17.7
Lower than 1.9%		2,612.7	14.9			3,153.0	16.5
Total	$	17,361.0	100.0	%	$	19,047.8	100.0	%

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

	March 31,		December 31,
	2020		2019
	(in millions)
Total credit card receivables – restricted for securitization investors	$	12,033.4	$	13,504.2
Principal amount of credit card receivables – restricted for securitization investors, 91 days or more past due	$	302.5	$	321.8

	Three Months Ended
	March 31,
	2020		2019
	(in millions)
Net charge-offs of securitized principal	$	239.5	$	239.5