Finance Receivables and Loans, Net

12 Months Ended

Dec. 31, 2023

Receivables [Abstract]

Finance Receivables and Loans, Net

Finance Receivables and Loans, Net

The composition of finance receivables and loans reported at amortized cost basis was as follows.

December 31, ($ in millions)	2023		2022
Consumer automotive (a)	$	84,320	$	83,286
Consumer mortgage
Mortgage Finance (b)	18,442		19,445
Mortgage — Legacy (c)	225		290
Total consumer mortgage	18,667		19,735
Consumer other
Personal Lending (d) (e)	—		1,990
Credit Card	1,990		1,599
Total consumer other	1,990		3,589
Total consumer	104,977		106,610
Commercial
Commercial and industrial
Automotive	18,700		14,595
Other	9,712		9,154
Commercial real estate	6,050		5,389
Total commercial	34,462		29,138
Total finance receivables and loans (f) (g)	$	139,439	$	135,748

(a)Certain finance receivables and loans are included in fair value hedging relationships. Refer to Note 21 for additional information.

(b)Includes loans originated as interest-only mortgage loans of $2 million and $3 million at December 31, 2023, and December 31, 2022, respectively, of which all have exited the interest-only period.

(c)Includes loans originated as interest-only mortgage loans of $13 million and $17 million at December 31, 2023, and December 31, 2022, respectively, of which all have exited the interest-only period.

(d)Personal Lending finance receivables and loans, net were transferred to loans held-for-sale, and are included in assets of operations held-for-sale on our Consolidated Balance Sheet at December 31, 2023. Refer to Note 2 for additional information.

(e)Includes $3 million of finance receivables at December 31, 2022, for which we have elected the fair value option.

(f)Totals include net unearned income, unamortized premiums and discounts, and deferred fees and costs of $2.3 billion at both December 31, 2023, and 2022.

(g)Totals do not include accrued interest receivable, which was $853 million and $707 million at December 31, 2023, and December 31, 2022, respectively. Accrued interest receivable is included in other assets on our Consolidated Balance Sheet. Billed interest on our credit card loans is included within finance receivables and loans, net.

The following tables present an analysis of the activity in the allowance for loan losses on finance receivables and loans for the years ended December 31, 2023, and 2022, respectively.

($ in millions)	Consumer automotive		Consumer mortgage		Consumer other (a)		Commercial		Total
Allowance at January 1, 2023	$	3,020	$	27	$	426	$	238	$	3,711
Charge-offs (b)	(2,284)		(3)		(303)		(130)		(2,720)
Recoveries	793		9		25		6		833
Net charge-offs	(1,491)		6		(278)		(124)		(1,887)
Write-downs from transfers to held-for-sale (c) (d)	(41)		—		(174)		—		(215)
Provision for credit losses (e)	1,595		(11)		319		76		1,979
Other	—		(1)		—		—		(1)
Allowance at December 31, 2023	$	3,083	$	21	$	293	$	190	$	3,587

(a)Excludes $3 million of finance receivables and loans at January 1, 2023, for which we have elected the fair value option and incorporate no allowance for loan losses.

(b)Refer to Note 1 for information regarding our charge-off policies.

(c)Consumer automotive includes a $41 million reduction of allowance from the sales of retained interests related to securitizations during 2023, resulting in the deconsolidation of the assets and liabilities from our Consolidated Balance Sheet. Refer to Note 11 for further information.

(d)Consumer other includes a $174 million reduction of allowance from transfers to held-for-sale related to Personal Lending. Refer to Note 2 for further information.

(e)Excludes $11 million of benefit for credit losses related to our reserve for unfunded commitments. The remaining liability related to the reserve for unfunded commitments is included in accrued expenses and other liabilities on our Consolidated Balance Sheet, excluding $5 million related to Personal Lending, which was transferred to liabilities of operations held-for-sale as of December 31, 2023. Refer to Note 2 for further information.

($ in millions)	Consumer automotive		Consumer mortgage		Consumer other (a)		Commercial		Total
Allowance at January 1, 2022	$	2,769	$	27	$	221	$	250	$	3,267
Charge-offs (b)	(1,434)		(3)		(133)		(58)		(1,628)
Recoveries	649		12		12		3		676
Net charge-offs	(785)		9		(121)		(55)		(952)
Provision for credit losses (c)	1,036		(8)		326		42		1,396
Other	—		(1)		—		1		—
Allowance at December 31, 2022	$	3,020	$	27	$	426	$	238	$	3,711

(a)Excludes $7 million and $3 million of finance receivables and loans at January 1, 2022, and December 31, 2022, respectively, for which we have elected the fair value option and incorporate no allowance for loan losses.

(b)Refer to Note 1 for information regarding our charge-off policies.

(c)Excludes $3 million of provision for credit losses related to our reserve for unfunded commitments. The liability related to the reserve for unfunded commitments is included in accrued expenses and other liabilities on our Consolidated Balance Sheet.

The following table presents sales of finance receivables and loans and transfers of finance receivables and loans from held-for-investment to held-for-sale based on net carrying value.

Year ended December 31, ($ in millions)	2023		2022
Consumer automotive	$	1,667	$	23
Consumer mortgage	—		4
Consumer other (a)	1,940		—
Commercial	132		—
Total sales and transfers	$	3,739	$	27

(a)Consists of personal lending finance receivables and loans. These were transferred to loans held-for-sale, and are included in assets of operations held-for-sale on our Consolidated Balance Sheet at December 31, 2023.

The following table presents purchases of finance receivables and loans based on unpaid principal balance at the time of purchase.

Year ended December 31, ($ in millions)	2023		2022
Consumer automotive	$	3,861	$	4,092
Consumer mortgage	21		2,781
Commercial	10		18
Total purchases of finance receivables and loans (a)	$	3,892	$	6,891

(a)Excludes $12 million of financial receivables and loans purchased during the year ended December 31, 2022, for which we have elected the fair value option.

Nonaccrual Loans

The following tables present the amortized cost of our finance receivables and loans on nonaccrual status. All consumer or commercial finance receivables and loans that were 90 days or more past due were on nonaccrual status as of December 31, 2023, and December 31, 2022.

			December 31, 2023
($ in millions)	Nonaccrual status at Jan. 1, 2023		Nonaccrual status		Nonaccrual with no allowance (a)
Consumer automotive	$	1,187	$	1,129	$	531
Consumer mortgage
Mortgage Finance	34		41		21
Mortgage — Legacy	15		13		12
Total consumer mortgage	49		54		33
Consumer other
Personal Lending (b)	13		—		—
Credit Card	43		92		—
Total consumer other	56		92		—
Total consumer	1,292		1,275		564
Commercial
Commercial and industrial
Automotive	5		18		13
Other	157		98		5
Commercial real estate	—		3		3
Total commercial	162		119		21
Total finance receivables and loans (c)	$	1,454	$	1,394	$	585

(a)Represents a component of nonaccrual status at end of period.

(b)Personal Lending finance receivables and loans were transferred to loans held-for-sale, and are included in assets of operations held-for-sale on our Consolidated Balance Sheet at December 31, 2023. Refer to Note 2 for additional information.

(c)We recorded interest income from cash payments associated with finance receivables and loans on nonaccrual status of $16 million for the year ended December 31, 2023.

			December 31, 2022
($ in millions)	Nonaccrual status at Jan. 1, 2022		Nonaccrual status		Nonaccrual with no allowance (a)
Consumer automotive	$	1,078	$	1,187	$	445
Consumer mortgage
Mortgage Finance	59		34		25
Mortgage — Legacy	26		15		14
Total consumer mortgage	85		49		39
Consumer other
Personal Lending	5		13		—
Credit Card	11		43		—
Total consumer other	16		56		—
Total consumer	1,179		1,292		484
Commercial
Commercial and industrial
Automotive	33		5		2
Other	221		157		33
Commercial real estate	3		—		—
Total commercial	257		162		35
Total finance receivables and loans (b)	$	1,436	$	1,454	$	519

(a)Represents a component of nonaccrual status at end of period.

(b)We recorded interest income from cash payments associated with finance receivables and loans on nonaccrual status of $13 million for the year ended December 31, 2022.

Credit Quality Indicators

We evaluate the credit quality of our consumer loan portfolio based on the aging status of the loan and by payment activity. Loan delinquency reporting is generally based upon borrower payment activity, relative to the contractual terms of the loan.

The following tables present the amortized cost basis of our consumer finance receivables and loans by credit quality indicator based on delinquency status and origination year.

	Origination year														Revolving loans converted to term
December 31, 2023 ($ in millions)	2023		2022		2021		2020		2019		2018 and prior		Revolving loans				Total
Consumer automotive
Current	$	30,677	$	23,699	$	14,209	$	6,132	$	3,306	$	1,876	$	—	$	—	$	79,899
30–59 days past due	539		1,041		739		270		181		122		—		—		2,892
60–89 days past due	170		443		303		109		68		45		—		—		1,138
90 or more days past due	64		167		122		44		32		28		—		—		457
Total consumer automotive (a)	31,450		25,350		15,373		6,555		3,587		2,071		—		—		84,386
Consumer mortgage
Mortgage Finance
Current	152		2,170		10,374		1,836		747		3,073		—		—		18,352
30–59 days past due	1		8		14		3		3		20		—		—		49
60–89 days past due	—		2		4		3		—		5		—		—		14
90 or more days past due	—		1		4		1		2		19		—		—		27
Total Mortgage Finance	153		2,181		10,396		1,843		752		3,117		—		—		18,442
Mortgage — Legacy
Current	—		—		—		—		—		51		142		17		210
30–59 days past due	—		—		—		—		—		3		—		1		4
60–89 days past due	—		—		—		—		—		1		1		—		2
90 or more days past due	—		—		—		—		—		6		2		1		9
Total Mortgage — Legacy	—		—		—		—		—		61		145		19		225
Total consumer mortgage	153		2,181		10,396		1,843		752		3,178		145		19		18,667
Consumer other
Credit Card
Current	—		—		—		—		—		—		1,828		—		1,828
30–59 days past due	—		—		—		—		—		—		39		—		39
60–89 days past due	—		—		—		—		—		—		34		—		34
90 or more days past due	—		—		—		—		—		—		89		—		89
Total Credit Card	—		—		—		—		—		—		1,990		—		1,990
Total consumer other (b)	—		—		—		—		—		—		1,990		—		1,990
Total consumer	$	31,603	$	27,531	$	25,769	$	8,398	$	4,339	$	5,249	$	2,135	$	19	$	105,043

(a)Certain consumer automotive loans are included in fair value hedging relationships. The amortized cost excludes a liability of $66 million related to basis adjustments for loans in closed portfolios with active hedges under the portfolio layer method at December 31, 2023. These basis adjustments would be allocated to the amortized cost of specific loans within the pool if the hedge was dedesignated. Refer to Note 21 for additional information.

(b)Excludes Personal Lending finance receivables and loans, which were transferred to loans held-for-sale, and are included in assets of operations held-for-sale on our Consolidated Balance Sheet at December 31, 2023. Refer to Note 2 for additional information.

	Origination year														Revolving loans converted to term
December 31, 2022 ($ in millions)	2022		2021		2020		2019		2018		2017 and prior		Revolving loans				Total
Consumer automotive
Current	$	36,127	$	22,102	$	10,341	$	6,451	$	3,237	$	1,890	$	—	$	—	$	80,148
30–59 days past due	707		878		370		284		165		120		—		—		2,524
60–89 days past due	207		324		135		99		55		38		—		—		858
90 or more days past due	73		111		47		38		23		24		—		—		316
Total consumer automotive (a)	37,114		23,415		10,893		6,872		3,480		2,072		—		—		83,846
Consumer mortgage
Mortgage Finance
Current	2,292		10,893		1,946		815		577		2,805		—		—		19,328
30–59 days past due	15		29		4		3		4		26		—		—		81
60–89 days past due	2		4		—		1		1		3		—		—		11
90 or more days past due	—		1		—		2		8		14		—		—		25
Total Mortgage Finance	2,309		10,927		1,950		821		590		2,848		—		—		19,445
Mortgage — Legacy
Current	—		—		—		—		—		62		191		18		271
30–59 days past due	—		—		—		—		—		4		1		—		5
60–89 days past due	—		—		—		—		—		—		—		1		1
90 or more days past due	—		—		—		—		—		8		3		2		13
Total Mortgage — Legacy	—		—		—		—		—		74		195		21		290
Total consumer mortgage	2,309		10,927		1,950		821		590		2,922		195		21		19,735
Consumer other
Personal Lending
Current	1,492		392		48		5		1		—		—		—		1,938
30–59 days past due	14		6		1		—		—		—		—		—		21
60–89 days past due	9		5		1		—		—		—		—		—		15
90 or more days past due	8		5		—		—		—		—		—		—		13
Total Personal Lending (b)	1,523		408		50		5		1		—		—		—		1,987
Credit Card
Current	—		—		—		—		—		—		1,518		—		1,518
30–59 days past due	—		—		—		—		—		—		22		—		22
60–89 days past due	—		—		—		—		—		—		18		—		18
90 or more days past due	—		—		—		—		—		—		41		—		41
Total Credit Card	—		—		—		—		—		—		1,599		—		1,599
Total consumer other	1,523		408		50		5		1		—		1,599		—		3,586
Total consumer	$	40,946	$	34,750	$	12,893	$	7,698	$	4,071	$	4,994	$	1,794	$	21	$	107,167

(a)Certain consumer automotive loans are included in fair value hedging relationships. The amortized cost excludes a liability of $560 million related to basis adjustments for loans in closed portfolios with active hedges under the portfolio layer method at December 31, 2022. These basis adjustments would be allocated to the amortized cost of specific loans within the pool if the hedge was dedesignated. Refer to Note 21 for additional information.

(b)Excludes $3 million of finance receivables at December 31, 2022, for which we have elected the fair value option.

We evaluate the credit quality of our commercial loan portfolio using regulatory risk ratings, which are based on relevant information about the borrower’s financial condition, including current financial information, historical payment experience, credit documentation, and current economic trends, among other factors. We use the following definitions for risk rankings below Pass.

•Special mention — Loans that have a potential weakness that deserves management’s close attention. If left uncorrected, these potential weaknesses may result in deterioration of the repayment prospects for the loan or the institution’s credit position at some future date.

•Substandard — Loans that are inadequately protected by the current net worth and paying capacity of the obligor or of the collateral pledged, if any. These loans have a well-defined weakness or weakness that jeopardize the liquidation of the debt. They are characterized by the distinct possibility that the institution will sustain some loss if the deficiencies are not corrected.

•Doubtful — Loans that have all the weaknesses inherent in those classified as substandard, with the additional characteristic that the weaknesses make collection or liquidation in full, based on the basis of currently existing facts, conditions, and values, highly questionable and improbable.

•Loss — Loans that are considered uncollectible and of such little value that their continuance as bankable assets is not warranted. This classification does not mean that the asset has absolutely no recovery or salvage value, but rather that it is not practical or desirable to defer writing off this basically worthless asset even though partial recovery may be effected in the future.

The regulatory risk classification utilized is influenced by internal credit risk ratings, which are based on a variety of factors. A borrower’s internal credit risk rating is updated at least annually, and more frequently when a borrower’s credit profile changes, including when we become aware of potential credit deterioration. The following tables present the amortized cost basis of our commercial finance receivables and loans by credit quality indicator based on risk rating and origination year.

	Origination year														Revolving loans converted to term
December 31, 2023 ($ in millions)	2023		2022		2021		2020		2019		2018 and prior		Revolving loans				Total
Commercial
Commercial and industrial
Automotive
Pass	$	509	$	512	$	165	$	97	$	58	$	22	$	16,446	$	—	$	17,809
Special mention	6		7		30		1		1		14		723		—		782
Substandard	—		1		—		—		—		—		44		—		45
Doubtful	—		—		—		—		—		1		63		—		64
Total automotive	515		520		195		98		59		37		17,276		—		18,700
Other
Pass	331		646		343		405		266		180		6,202		173		8,546
Special mention	—		208		188		206		51		85		198		25		961
Substandard	—		—		46		3		—		83		25		11		168
Doubtful	—		—		—		—		—		26		10		—		36
Loss	—		—		—		—		1		—		—		—		1
Total other	331		854		577		614		318		374		6,435		209		9,712
Commercial real estate
Pass	971		1,452		1,129		884		607		811		100		26		5,980
Special mention	3		16		28		1		18		—		—		—		66
Substandard	—		3		—		—		—		1		—		—		4
Total commercial real estate	974		1,471		1,157		885		625		812		100		26		6,050
Total commercial	$	1,820	$	2,845	$	1,929	$	1,597	$	1,002	$	1,223	$	23,811	$	235	$	34,462

	Origination year														Revolving loans converted to term
December 31, 2022 ($ in millions)	2022		2021		2020		2019		2018		2017 and prior		Revolving loans				Total
Commercial
Commercial and industrial
Automotive
Pass	$	640	$	211	$	132	$	78	$	28	$	34	$	12,327	$	—	$	13,450
Special mention	23		47		—		—		10		21		1,016		—		1,117
Substandard	—		—		—		1		—		—		27		—		28
Total automotive	663		258		132		79		38		55		13,370		—		14,595
Other
Pass	594		469		607		419		54		133		5,344		89		7,709
Special mention	177		158		175		95		47		128		278		35		1,093
Substandard	—		—		4		51		—		139		55		13		262
Doubtful	—		—		—		64		—		25		—		—		89
Loss	—		—		—		—		—		—		1		—		1
Total other	771		627		786		629		101		425		5,678		137		9,154
Commercial real estate
Pass	1,481		1,118		951		679		369		716		9		13		5,336
Special mention	—		32		2		19		—		—		—		—		53
Total commercial real estate	1,481		1,150		953		698		369		716		9		13		5,389
Total commercial	$	2,915	$	2,035	$	1,871	$	1,406	$	508	$	1,196	$	19,057	$	150	$	29,138

The following table presents an analysis of our past-due commercial finance receivables and loans recorded at amortized cost basis.

($ in millions)	30–59 days past due		60–89 days past due		90 days or more past due		Total past due		Current		Total finance receivables and loans
December 31, 2023
Commercial
Commercial and industrial
Automotive	$	—	$	—	$	—	$	—	$	18,700	$	18,700
Other	2		—		3		5		9,707		9,712
Commercial real estate	—		—		—		—		6,050		6,050
Total commercial	$	2	$	—	$	3	$	5	$	34,457	$	34,462
December 31, 2022
Commercial
Commercial and industrial
Automotive	$	—	$	—	$	—	$	—	$	14,595	$	14,595
Other	—		1		2		3		9,151		9,154
Commercial real estate	—		—		—		—		5,389		5,389
Total commercial	$	—	$	1	$	2	$	3	$	29,135	$	29,138

The following table presents gross charge-offs of our finance receivables and loans for each portfolio class by origination year that occurred during the year ended December 31, 2023. Refer to Note 1 for additional information on our charge-off policy.

	Origination year														Revolving loans converted to term
Year ended December 31, 2023 ($ in millions)	2023		2022		2021		2020		2019		2018 and prior		Revolving loans				Total
Consumer automotive (a)	$	225	$	952	$	651	$	194	$	142	$	120	$	—	$	—	$	2,284
Consumer mortgage
Mortgage Finance	—		—		—		—		—		1		—		—		1
Mortgage — Legacy	—		—		—		—		—		2		—		—		2
Total consumer mortgage	—		—		—		—		—		3		—		—		3
Consumer other
Personal Lending (b)	14		82		29		3		—		—		—		—		128
Credit Card	—		—		—		—		—		—		165		10		175
Total consumer other	14		82		29		3		—		—		165		10		303
Total consumer	239		1,034		680		197		142		123		165		10		2,590
Commercial
Commercial and industrial
Automotive	—		—		—		—		—		5		19		—		24
Other	—		—		—		—		79		23		4		—		106
Total commercial	—		—		—		—		79		28		23		—		130
Total finance receivables and loans	$	239	$	1,034	$	680	$	197	$	221	$	151	$	188	$	10	$	2,720

(a)Excludes $41 million of write-downs from transfers to held-for-sale from the sales of retained interests related to securitizations during 2023, resulting in the deconsolidation of the assets and liabilities from our Consolidated Balance Sheet. Refer to Note 11 for additional information.

(b)Excludes $174 million of write-downs from the transfer to held-for-sale related to Personal Lending. Refer to Note 2 for additional information.

Loan Modifications

The following table presents the amortized cost basis of loans that were modified subsequent to origination during the year ended December 31, 2023, for each portfolio segment, by modification type. For additional information on loan modification types in scope of this disclosure, refer to Note 1. The below table excludes consumer mortgage finance receivables and loans currently enrolled in a trial modification program. Trial modifications generally represent a three-month period during which the borrower makes monthly payments under the anticipated modified payment terms. If the borrower successfully completes the trial loan modification program, the contractual terms of the loan are updated and the modification is considered permanent. As of December 31, 2023, there were $5 million of consumer mortgage finance receivables and loans in a trial modification program.

	Payment extensions
Year ended December 31, 2023 ($ in millions)	Payment deferrals (a)		Contractual maturity extensions		Principal forgiveness		Interest rate concessions		Combination		Total (b)
Consumer automotive	$	—	$	234	$	13	$	—	$	28	$	275
Consumer mortgage
Mortgage Finance	—		3		—		—		3		6
Mortgage — Legacy	—		1		—		—		1		2
Total consumer mortgage	—		4		—		—		4		8
Consumer other
Credit Card	—		—		—		13		—		13
Total consumer other	—		—		—		13		—		13
Total consumer	—		238		13		13		32		296
Commercial
Commercial and industrial
Other	36		46		—		—		—		82
Total commercial	36		46		—		—		—		82
Total finance receivables and loans	$	36	$	284	$	13	$	13	$	32	$	378

(a)Includes a commercial and industrial loan within our Corporate Finance operations that was also granted a three-month contractual maturity extension during the year ended December 31, 2023.

(b)Represents 0.3% of total finance receivables and loans outstanding as of December 31, 2023.

Total commitments to lend additional funds to borrowers whose loans were modified during the year ended December 31, 2023, was $6 million as of December 31, 2023.

The following table presents the financial effect of loan modifications that occurred during the year ended December 31, 2023.

	Payment extensions (a)	Principal forgiveness		Interest rate concessions (a)				Combination (a) (b) (c)
Year ended December 31, 2023 ($ in millions)	Number of months extended/deferred	Amount forgiven		Initial rate		Revised rate		Remaining term	Revised remaining term	Initial rate		Revised rate
Consumer automotive	29	$	3	—	%	—	%	74	86	10.3	%	9.5	%
Consumer mortgage
Mortgage Finance	154	—		—		—		307	472	4.7		3.3
Mortgage — Legacy	76	—		—		—		174	283	2.7		2.0
Total consumer mortgage	132	—		—		—		286	442	4.4		3.1
Consumer other
Credit Card	—	—		30.0		8.0		—	—	—		—
Total consumer other	—	$	—	30.0		8.0		—	—	—		—
Commercial
Commercial and industrial
Other (d)	15	$	—	—	%	—	%	—	—	—	%	—	%
Total commercial	15	$	—	—		—		—	—	—		—

(a)Calculated using a weighted-average balance for each portfolio class.

(b)Term is presented in number of months.

(c)Some consumer mortgage combination loan modifications include deferrals of principal. The weighted average number of months deferred for these loans was 207 months.

(d)Includes a commercial and industrial loan within our Corporate Finance operations that was also granted a three-month contractual maturity extension during the year ended December 31, 2023.

The following tables present the subsequent performance of loans recorded at amortized cost, by portfolio segment and credit quality indicator, that have been modified during the year ended December 31, 2023.

Year ended December 31, 2023 ($ in millions)	Current		30–59 days past due		60–89 days past due		90 or more days past due (a)		Total
Consumer automotive
Contractual maturity extensions	$	202	$	24	$	7	$	1	$	234
Principal forgiveness	7		1		—		5		13
Combination	25		2		—		1		28
Total consumer automotive	234		27		7		7		275
Consumer mortgage
Mortgage Finance
Contractual maturity extensions	3		—		—		—		3
Combination	1		—		—		2		3
Total Mortgage Finance	4		—		—		2		6
Mortgage — Legacy
Contractual maturity extensions	1		—		—		—		1
Combination	1		—		—		—		1
Total Mortgage — Legacy	2		—		—		—		2
Total consumer mortgage	6		—		—		2		8
Consumer other
Credit Card
Interest rate concessions	7		2		1		3		13
Total consumer other	7		2		1		3		13
Total consumer	$	247	$	29	$	8	$	12	$	296

(a)Includes 235 consumer automotive loans with a total amortized cost of $5 million and 1 consumer mortgage loan with a total amortized cost of $2 million that redefaulted during the year ended December 31, 2023.

Year ended December 31, 2023 ($ in millions)	Pass		Special mention		Substandard		Doubtful		Total
Commercial and industrial
Other
Payment deferrals (a)	$	—	$	—	$	—	$	36	$	36
Contractual maturity extensions	34		7		5		—		46
Total commercial	$	34	$	7	$	5	$	36	$	82

(a)Includes a commercial and industrial loan within our Corporate Finance operations that was also granted a three-month contractual maturity extension during the year ended December 31, 2023.

Troubled Debt Restructuring Disclosures Prior to the Adoption of ASU 2022-02

The adoption of ASU 2022-02 eliminated TDR recognition and measurement guidance, as well as all TDR-related disclosures. Refer to Note 1 for additional information. TDRs were loan modifications where concessions were granted to borrowers experiencing financial difficulties. Total TDRs recorded at amortized cost were $2.4 billion at both December 31, 2022, and December 31, 2021.

Total commitments to lend additional funds to borrowers whose terms had been modified in a TDR were $61 million and $18 million at December 31, 2022, and December 31, 2021, respectively.

The following tables present information related to finance receivables and loans recorded at amortized cost modified in connection with a TDR during the period.

Year ended December 31, ($ in millions)	Number of loans	Pre-modification amortized cost basis		Post-modification amortized cost basis
2022
Consumer automotive	49,773	$	831	$	805
Consumer mortgage
Mortgage Finance	18	12		12
Mortgage — Legacy	13	1		1
Total consumer mortgage	31	13		13
Consumer other
Credit Card	2,853	5		5
Total consumer other	2,853	5		5
Total consumer	52,657	849		823
Commercial
Commercial and industrial
Other	5	461		466
Total commercial	5	461		466
Total finance receivables and loans	52,662	$	1,310	$	1,289

Year ended December 31, ($ in millions)	Number of loans	Pre-modification amortized cost basis		Post-modification amortized cost basis
2021
Consumer automotive	77,991	$	1,395	$	1,371
Consumer mortgage
Mortgage Finance	38	22		22
Mortgage — Legacy	16	2		2
Total consumer mortgage	54	24		24
Consumer other
Credit Card	113	—		—
Total consumer other	113	—		—
Total consumer	78,158	1,419		1,395
Commercial
Commercial and industrial
Automotive	1	2		2
Other	1	33		33
Commercial real estate	2	4		4
Total commercial	4	39		39
Total finance receivables and loans	78,162	$	1,458	$	1,434

The following table presents information about finance receivables and loans recorded at amortized cost that have redefaulted during the reporting period and were within 12 months or less of being modified as a TDR. Redefault is when finance receivables and loans meet the requirements for evaluation under our charge-off policy except for commercial finance receivables and loans, where redefault is defined as 90 days past due.

Year ended December 31, ($ in millions)	Number of loans	Amortized cost		Charge-off amount
2022
Consumer automotive	9,227	$	143	$	64
Consumer mortgage
Mortgage Finance	4	2		—
Total consumer mortgage	4	2		—
Consumer Other
Credit Card	457	—		—
Total consumer other	457	—		—
Total consumer	9,688	145		64
Commercial
Commercial and industrial
Other	1	1		31
Total commercial	1	1		31
Total finance receivables and loans	9,689	$	146	$	95
2021
Consumer automotive	9,295	$	119	$	61
Consumer mortgage
Mortgage Finance	1	—		—
Mortgage — Legacy	4	—		—
Total consumer mortgage	5	—		—
Total consumer finance receivables and loans	9,300	119		61
Total finance receivables and loans	9,300	$	119	$	61

Concentration Risk

Consumer

We monitor our consumer loan portfolio for concentration risk across the states in which we lend. The highest concentrations of consumer loans are in California and Texas, which represented an aggregate of 26.4% and 26.5% of our total consumer finance receivables and loans at December 31, 2023, and December 31, 2022, respectively.

The following table shows the percentage of consumer automotive, consumer mortgage, and consumer other finance receivables and loans by state concentration based on amortized cost.

	2023 (a)						2022
December 31,	Consumer automotive		Consumer mortgage		Consumer other (b)		Consumer automotive		Consumer mortgage		Consumer other (c)
California	8.5	%	39.2	%	9.4	%	8.7	%	38.8	%	8.4	%
Texas	13.7		7.3		7.6		13.6		7.3		7.7
Florida	9.5		6.5		9.0		9.5		6.6		7.8
Pennsylvania	4.5		2.1		4.2		4.5		2.1		4.6
Georgia	4.1		2.9		3.7		4.1		2.9		3.5
North Carolina	4.3		1.9		2.9		4.1		1.9		4.6
New York	3.7		1.9		5.4		3.6		1.9		4.8
Illinois	3.3		2.8		4.6		3.5		2.8		4.3
New Jersey	3.2		2.4		3.7		3.2		2.4		3.6
Ohio	3.4		0.4		4.5		3.4		0.4		3.6
Other United States	41.8		32.6		45.0		41.8		32.9		47.1
Total consumer loans	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%	100.0	%

(a)Presentation is in descending order as a percentage of total consumer finance receivables and loans at December 31, 2023.

(b)Excludes Personal Lending finance receivables and loans, which were transferred to loans held-for-sale, and are included in assets of operations held-for-sale on our Consolidated Balance Sheet at December 31, 2023. Refer to Note 2 for additional information.

(c)Excludes $3 million of finance receivables at December 31, 2022, for which we have elected the fair value option.

Commercial Real Estate

The commercial real estate portfolio consists of finance receivables and loans issued primarily to automotive dealers. The following table presents the percentage of total commercial real estate finance receivables and loans by state concentration based on amortized cost.

December 31,	2023		2022
Florida	17.6	%	17.9	%
Texas	13.6		14.9
California	7.9		8.4
Ohio	5.9		4.2
Michigan	5.4		4.2
North Carolina	5.0		5.3
New York	4.5		6.3
Tennessee	3.7		1.2
Georgia	3.0		3.1
Missouri	2.8		2.6
Other United States	30.6		31.9
Total commercial real estate finance receivables and loans	100.0	%	100.0	%

Commercial Criticized Exposure

Finance receivables and loans classified as special mention, substandard, or doubtful are reported as criticized. These classifications are based on regulatory definitions and generally represent finance receivables and loans within our portfolio that have a higher default risk or have already defaulted. These finance receivables and loans require additional monitoring and review including specific actions to mitigate our potential loss.

The following table presents the percentage of total commercial criticized finance receivables and loans by industry concentration based on amortized cost.

December 31,	2023		2022
Industry
Automotive	54.0	%	53.4	%
Electronics	13.4		11.9
Services	12.8		6.5
Other	19.8		28.2
Total commercial criticized finance receivables and loans	100.0	%	100.0	%