Consolidated Statements of Cash Flows - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Cash Flows from Operating Activities
Net income (loss)		$ 387	$ (603)	$ 197
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Provisions for losses		249	244	151
Amortization of underwriting expense		25	28	23
Deferred taxes		(35)	55	14
Changes in operating assets and liabilities:
Interest, taxes and other amounts due to/from affiliates		(90)	1,088	(39)
Other operating assets and liabilities		405	(378)	475
Net cash provided by operating activities		941	434	821
Cash Flows from Investing Activities
Net increase in Card Member receivables and Card Member loans including held for sale		(4,984)	(1,998)	(1,059)
Net (increase) decrease in loans to affiliates and other		(67)	(1,245)	2,973
Net increase (decrease) in due to/from affiliates		978	(1,718)	(515)
Net cash (used in) provided by investing activities		(4,073)	(4,961)	1,399
Cash Flows from Financing Activities
Net (decrease) increase in short-term debt		(482)	(1,685)	873
Net (decrease) increase in short-term debt to affiliates	[1]	(97)	1,414	(861)
Proceeds from long-term debt		0	8,438	3,791
Principal payments of long-term debt		(3,647)	(4,900)	(4,961)
Proceeds from long-term debt to affiliates	[1]	11,812	270	0
Principal Payments Of long-term Debt Affiliates		(4,546)	0	0
Net cash provided by (used in) financing activities		3,040	3,537	(1,158)
Effect of foreign currency exchange rates on cash, cash equivalents and restricted cash		(9)	75	(24)
Net (decrease) increase in cash, cash equivalents and restricted cash		(101)	(915)	1,038
Cash, cash equivalents and restricted cash at beginning of period		296	1,211	173
Cash, cash equivalents and restricted cash at end of period		$ 195	$ 296	$ 1,211

[1] Pursuant to the revision of the master note arrangem ent with American Express Company during the fourth quarter of 2018, Credco has changed the classification of the net borrowings from s hort - term debt to affiliate s to l ong- term debt to affiliate s . Refer to Note 9 for additional information .