Accumulated Other Comprehensive Loss (Tables)

9 Months Ended

Sep. 30, 2024

Equity [Abstract]

Schedule of Accumulated Other Comprehensive Loss

The following tables present changes, net of tax, in each component of accumulated other comprehensive loss.

	Three months ended September 30,
	Investment securities (a)
($ in millions)	Available- for-sale securities (b)		Held-to-maturity securities		Translation adjustments and net investment hedges (c)		Cash flow hedges (c)		Accumulated other comprehensive loss
Balance at July 1, 2023	$	(3,881)	$	—	$	21	$	(3)	$	(3,863)
Net change	(886)		—		(1)		(15)		(902)
Balance at September 30, 2023	$	(4,767)	$	—	$	20	$	(18)	$	(4,765)
Balance at July 1, 2024	$	(3,353)	$	(650)	$	20	$	(26)	$	(4,009)
Net change	588		18		1		9		616
Balance at September 30, 2024	$	(2,765)	$	(632)	$	21	$	(17)	$	(3,393)

(a)For additional information on the securities transferred from available-for-sale to held-to-maturity during 2023, refer to Note 7.

(b)Represents the after-tax difference between the fair value and amortized cost of our available-for-sale securities portfolio. Refer to Note 7 for additional information.

(c)For additional information on derivative instruments and hedging activities, refer to Note 19.

	Nine months ended September 30,
	Investment securities (a)
($ in millions)	Available- for-sale securities (b)		Held-to-maturity securities		Translation adjustments and net investment hedges (c)		Cash flow hedges (c)		Accumulated other comprehensive loss
Balance at January 1, 2023	$	(4,095)	$	—	$	18	$	18	$	(4,059)
Net change	(672)		—		2		(36)		(706)
Balance at September 30, 2023	$	(4,767)	$	—	$	20	$	(18)	$	(4,765)
Balance at January 1, 2024	$	(3,146)	$	(682)	$	21	$	(9)	$	(3,816)
Net change	381		50		—		(8)		423
Balance at September 30, 2024	$	(2,765)	$	(632)	$	21	$	(17)	$	(3,393)

(a)For additional information on the securities transferred from available-for-sale to held-to-maturity during 2023, refer to Note 7.

(b)Represents the after-tax difference between the fair value and amortized cost of our available-for-sale securities portfolio. Refer to Note 7 for additional information.

(c)For additional information on derivative instruments and hedging activities, refer to Note 19.

Schedule of Reclassification Out of Accumulated Other Comprehensive Loss

The following tables present the before- and after-tax changes in each component of accumulated other comprehensive loss.

Three months ended September 30, 2024 ($ in millions)	Before tax			Tax effect			After tax
Investment securities
Available-for-sale securities
Net unrealized gains arising during the period	$	772		$	(183)		$	589
Less: Net realized gains reclassified to income from continuing operations	1		(a)	—		(b)	1
Net change	771			(183)			588
Held-to-maturity securities
Less: Amortization of amounts previously recorded upon transfer from available-for-sale (c)	(23)		(d)	5		(b)	(18)
Translation adjustments
Net unrealized gains arising during the period	2			—			2
Net investment hedges (e)
Net unrealized losses arising during the period	(1)			—			(1)
Cash flow hedges (e)
Net unrealized gains arising during the period	8			(2)			6
Less: Net realized losses reclassified to income from continuing operations	(4)		(f)	1		(b)	(3)
Net change	12			(3)			9
Other comprehensive income	$	807		$	(191)		$	616

(a)Includes gains reclassified to other gain (loss) on investments, net in our Condensed Consolidated Statement of Comprehensive Income (Loss).

(b)Includes amounts reclassified to income tax (benefit) expense from continuing operations in our Condensed Consolidated Statement of Comprehensive Income (Loss).

(c)For additional information on the securities transferred from available-for-sale to held-to-maturity, refer to Note 7.

(d)Includes amounts reclassified to interest and dividends on investment securities and other earning assets in our Condensed Consolidated Statement of Comprehensive Income (Loss).

(e)For additional information on derivative instruments and hedging activities, refer to Note 19.

(f)Includes losses reclassified to interest and fees on finance receivables and loans in our Condensed Consolidated Statement of Comprehensive Income (Loss).

Three months ended September 30, 2023 ($ in millions)	Before tax			Tax effect			After tax
Investment securities
Available-for-sale securities
Net unrealized losses arising during the period	$	(1,163)		$	277		$	(886)
Translation adjustments
Net unrealized losses arising during the period	(5)			1			(4)
Net investment hedges (a)
Net unrealized gains arising during the period	4			(1)			3
Cash flow hedges (a)
Net unrealized losses arising during the period	(15)			4			(11)
Less: Net realized gains reclassified to income from continuing operations	5		(b)	(1)		(c)	4
Net change	(20)			5			(15)
Other comprehensive loss	$	(1,184)		$	282		$	(902)

(a)For additional information on derivative instruments and hedging activities, refer to Note 19.

(b)Includes gains reclassified to interest and fees on finance receivables and loans in our Condensed Consolidated Statement of Comprehensive Income (Loss).

(c)Includes amounts reclassified to income tax (benefit) expense from continuing operations in our Condensed Consolidated Statement of Comprehensive Income (Loss).

Nine months ended September 30, 2024 ($ in millions)	Before tax			Tax effect			After tax
Investment securities
Available-for-sale securities
Net unrealized gains arising during the period	$	502		$	(119)		$	383
Less: Net realized gains reclassified to income from continuing operations	2		(a)	—		(b)	2
Net change	500			(119)			381
Held-to-maturity securities
Less: Amortization of amounts previously recorded upon transfer from available-for-sale (c)	(65)		(d)	15		(b)	(50)
Translation adjustments
Net unrealized losses arising during the period	(5)			1			(4)
Net investment hedges (e)
Net unrealized gains arising during the period	5			(1)			4
Cash flow hedges (e)
Net unrealized losses arising during the period	(17)			4			(13)
Less: Net realized losses reclassified to income from continuing operations	(7)		(f)	2		(b)	(5)
Net change	(10)			2			(8)
Other comprehensive income	$	555		$	(132)		$	423

(a)Includes gains reclassified to other gain (loss) on investments, net in our Condensed Consolidated Statement of Comprehensive Income (Loss).

(b)Includes amounts reclassified to income tax (benefit) expense from continuing operations in our Condensed Consolidated Statement of Comprehensive Income (Loss).

(c)For additional information on the securities transferred from available-for-sale to held-to-maturity, refer to Note 7.

(d)Includes amounts reclassified to interest and dividends on investment securities and other earning assets in our Condensed Consolidated Statement of Comprehensive Income (Loss).

(e)For additional information on derivative instruments and hedging activities, refer to Note 19.

(f)Includes losses reclassified to interest and fees on finance receivables and loans in our Condensed Consolidated Statement of Comprehensive Income (Loss).

Nine months ended September 30, 2023 ($ in millions)	Before tax			Tax effect			After tax
Investment securities
Available-for-sale securities
Net unrealized losses arising during the period	$	(877)		$	209		$	(668)
Less: Net realized gains reclassified to income from continuing operations	5		(a)	(1)		(b)	4
Net change	(882)			210			(672)
Translation adjustments
Net unrealized gains arising during the period	1			—			1
Net investment hedges (c)
Net unrealized gains arising during the period	1			—			1
Cash flow hedges (c)
Net unrealized losses arising during the period	(33)			9			(24)
Less: Net realized gains reclassified to income from continuing operations	15		(d)	(3)		(b)	12
Net change	(48)			12			(36)
Other comprehensive loss	$	(928)		$	222		$	(706)

(a)Includes gains reclassified to other gain (loss) on investments, net in our Condensed Consolidated Statement of Comprehensive Income (Loss).

(b)Includes amounts reclassified to income tax (benefit) expense from continuing operations in our Condensed Consolidated Statement of Comprehensive Income (Loss).

(c)For additional information on derivative instruments and hedging activities, refer to Note 19.

(d)Includes gains reclassified to interest and fees on finance receivables and loans in our Condensed Consolidated Statement of Comprehensive Income (Loss).