CHANGES IN ACCUMULATED OTHER COMPREHENSIVE LOSS (Tables)

6 Months Ended

Jun. 30, 2022

CHANGES IN ACCUMULATED OTHER COMPREHENSIVE LOSS

Schedule of changes in each component of accumulated comprehensive income (loss), net of tax effects

	Net		Net Unrealized		Net Unrealized		Foreign		Accumulated
	Unrealized		Gains (Losses)		Gains (Losses)		Currency		Other
	Gains (Losses)		on Cash		on Net		Translation		Comprehensive
Three Months Ended June 30, 2022	on AFS Securities		Flow Hedges		Investment Hedge		Adjustments		Loss
(Millions)
Balance as of March 31, 2022	$	(6)	$	—	$	—	$	(3)	$	(9)
Changes in other comprehensive loss		(5)		—		—		—		(5)
Balance as of June 30, 2022	$	(11)	$	—	$	—	$	(3)	$	(14)

	Net		Net Unrealized		Net Unrealized		Foreign		Accumulated
	Unrealized		Gains (Losses)		Gains (Losses)		Currency		Other
	Gains (Losses)		on Cash		on Net		Translation		Comprehensive
Three Months Ended June 30, 2021	on Securities		Flow Hedges		Investment Hedge		Adjustments (1)		Loss
(Millions)
Balance as of March 31, 2021	$	15	$	—	$	(7)	$	(50)	$	(42)
Changes in other comprehensive (loss) income		(1)		—		—		10		9
Balance as of June 30, 2021	$	14	$	—	$	(7)	$	(40)	$	(33)

	Net		Net Unrealized		Net Unrealized		Foreign		Accumulated
	Unrealized		Gains (Losses)		Gains (Losses)		Currency		Other
	Gains (Losses)		on Cash		on Net		Translation		Comprehensive
Six Months Ended June 30, 2022	on Securities		Flow Hedges		Investment Hedge		Adjustments		Loss
(Millions)
Balance as of December 31, 2021	$	1	$	—	$	—	$	(3)	$	(2)
Changes in other comprehensive loss		(12)		—		—		—		(12)
Balance as of June 30, 2022	$	(11)	$	—	$	—	$	(3)	$	(14)

	Net		Net Unrealized		Net Unrealized		Foreign		Accumulated
	Unrealized		Gains (Losses)		Gains (Losses)		Currency		Other
	Gains (Losses)		on Cash		on Net		Translation		Comprehensive
Six Months Ended June 30, 2021	on Securities		Flow Hedges		Investment Hedge		Adjustments (1)		Loss
(Millions)
Balance as of December 31, 2020	$	23	$	(1)	$	(7)	$	(20)	$	(5)
Changes in other comprehensive (loss) income		(9)		1		—		(20)		(28)
Balance as of June 30, 2021	$	14	$	—	$	(7)	$	(40)	$	(33)

(1) Primarily related to the impact of changes in the Canadian dollar and Euro foreign currency exchange rates from the Company’s LoyaltyOne segment, which was spun off in November 2021.