Quarterly Financial Statements (unaudited)

12 Months Ended

Dec. 31, 2020

Quarterly Financial Information Disclosure [Abstract]

Quarterly Financial Information Disclosure

Quarterly Financial Statements (unaudited)

($ in millions)	First quarter		Second quarter		Third quarter		Fourth quarter
2020
Net financing revenue and other interest income	$	1,146	$	1,054	$	1,200	$	1,303
Other revenue	266		555		484		678
Total net revenue	1,412		1,609		1,684		1,981
Provision for credit losses	903		287		147		102
Total noninterest expense	920		985		905		1,023
(Loss) income from continuing operations before income tax expense	(411)		337		632		856
Income tax (benefit) expense from continuing operations	(92)		95		156		169
Net (loss) income from continuing operations	(319)		242		476		687
Loss from discontinued operations, net of tax	—		(1)		—		—
Net (loss) income	$	(319)	$	241	$	476	$	687
Basic earnings per common share (a)
Net (loss) income from continuing operations	$	(0.85)	$	0.65	$	1.27	$	1.83
Net (loss) income	(0.85)		0.64		1.27		1.83
Diluted earnings per common share (a)
Net (loss) income from continuing operations	(0.85)		0.64		1.26		1.82
Net (loss) income	(0.85)		0.64		1.26		1.82
Cash dividends declared per common share	$	0.19	$	0.19	$	0.19	$	0.19
2019
Net financing revenue and other interest income	$	1,132	$	1,157	$	1,188	$	1,156
Other revenue	466		395		413		487
Total net revenue	1,598		1,552		1,601		1,643
Provision for credit losses	282		177		263		276
Total noninterest expense	830		881		838		880
Income from continuing operations before income tax expense	486		494		500		487
Income tax expense (benefit) from continuing operations	111		(90)		119		106
Net income from continuing operations	375		584		381		381
Loss from discontinued operations, net of tax	(1)		(2)		—		(3)
Net income	$	374	$	582	$	381	$	378
Basic earnings per common share (a)
Net income from continuing operations	$	0.93	$	1.47	$	0.98	$	1.00
Net income	0.93		1.46		0.97		0.99
Diluted earnings per common share (a)
Net income from continuing operations	0.92		1.46		0.97		0.99
Net income	0.92		1.46		0.97		0.99
Cash dividends declared per common share	$	0.17	$	0.17	$	0.17	$	0.17

(a)Earnings per share is calculated quarterly on an independent basis, therefore the total of the amounts presented for each year above may not reconcile to the annual amounts presented in Note 19