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ALLOWANCE FOR CREDIT LOSSES
 9 Months Ended
Sep. 30, 2015
Loans and Leases Receivable, Allowance [Abstract]  
ALLOWANCE FOR CREDIT LOSSES
ALLOWANCE FOR CREDIT LOSSES
 
 
Three Months Ended September 30,
Nine Months Ended 
 September 30,
In millions of dollars
2015
2014
2015
2014
Allowance for loan losses at beginning of period
$
14,075

$
17,890

$
15,994

$
19,648

Gross credit losses
(2,068
)
(2,586
)
(6,861
)
(8,381
)
Gross recoveries (1)
405

489

1,321

1,656

Net credit losses (NCLs) (2)
$
(1,663
)
$
(2,097
)
$
(5,540
)
$
(6,725
)
NCLs
$
1,663

$
2,097

$
5,540

$
6,725

Net reserve builds (releases)
43

(492
)
(247
)
(1,573
)
Net specific reserve builds (releases)
(124
)
(30
)
(441
)
(205
)
Total provision for credit losses
$
1,582

$
1,575

$
4,852

$
4,947

Other, net (3)
(368
)
(453
)
(1,680
)
(955
)
Allowance for loan losses at end of period
$
13,626

$
16,915

$
13,626

$
16,915

Allowance for credit losses on unfunded lending commitments at beginning of period
$
973

$
1,176

$
1,063

$
1,229

Provision (release) for unfunded lending commitments
65

(30
)
(20
)
(88
)
Other, net
(2
)
(6
)
(7
)
(1
)
Allowance for credit losses on unfunded lending commitments at end of period (4)
$
1,036

$
1,140

$
1,036

$
1,140

Total allowance for loans, leases, and unfunded lending commitments
$
14,662

$
18,055

$
14,662

$
18,055


(1)
Recoveries have been reduced by certain collection costs that are incurred only if collection efforts are successful.
(2)
As a result of the entry into an agreement in March 2015 to sell OneMain Financial (OneMain), OneMain was classified as held-for-sale (HFS) at the end of the first quarter of 2015. As a result of HFS accounting treatment, approximately $160 million and $116 million of net credit losses were recorded as a reduction in revenue (Other revenue) during the second and third quarters of 2015, respectively.
(3)
The third quarter of 2015 includes a reduction of approximately $110 million related to the sale or transfers to HFS of various loan portfolios, including a reduction of $14 million related to a transfer of a real estate loan portfolio to HFS. Additionally, the third quarter includes a reduction of approximately $255 million related to FX translation. The second quarter of 2015 includes a reduction of approximately $88 million related to the sale or transfers to HFS of various loan portfolios, including a reduction of $34 million related to a transfer of a real estate loan portfolio to HFS. Additionally, the second quarter of 2015 includes a reduction of approximately $39 million related to FX translation. The first quarter of 2015 includes a reduction of approximately $1.0 billion related to the sale or transfers to HFS of various loan portfolios, including a reduction of $281 million related to a transfer of a real estate loan portfolio to HFS. Additionally, the first quarter of 2015 includes a reduction of approximately $145 million related to FX translation. The third quarter of 2014 includes a reduction of approximately $259 million related to the sale or transfers to HFS of various loan portfolios, including a reduction of $151 million related to a transfer of a real estate loan portfolio to HFS and a reduction of approximately $108 million related to the transfer of various EMEA loan portfolios to HFS. Additionally, the third quarter includes a reduction of approximately $181 million related to FX translation. The second quarter of 2014 includes a reduction of approximately $480 million related to the sale or transfers to HFS of various loan portfolios, including a reduction of approximately $204 million and $177 million related to the transfer of HFS of businesses in Greece and Spain and $29 million related to the sale of the Honduras business, and $66 million related to a transfer of a real estate loan portfolio to HFS. These amounts are partially offset by FX translation on the entire allowance balance. The first quarter of 2014 includes reductions of approximately $79 million related to the sale or transfer to HFS of various loan portfolios.
(4)
Represents additional credit loss reserves for unfunded lending commitments and letters of credit recorded in Other liabilities on the Consolidated Balance Sheet.
Allowance for Credit Losses and Investment in Loans
 
Three Months Ended
 
September 30, 2015
September 30, 2014
In millions of dollars
Corporate
Consumer
Total
Corporate
Consumer
Total
Allowance for loan losses at beginning of period
$
2,326

$
11,749

$
14,075

$
2,370

$
15,520

$
17,890

Charge-offs
(73
)
(1,995
)
(2,068
)
(43
)
(2,543
)
(2,586
)
Recoveries
27

378

405

61

428

489

Replenishment of net charge-offs
46

1,617

1,663

(18
)
2,115

2,097

Net reserve builds (releases)
115

(72
)
43

(99
)
(393
)
(492
)
Net specific reserve builds (releases)
78

(202
)
(124
)
87

(117
)
(30
)
Other
(3
)
(365
)
(368
)
(18
)
(435
)
(453
)
Ending balance
$
2,516

$
11,110

$
13,626

$
2,340

$
14,575

$
16,915


 
Nine Months Ended
 
September 30, 2015
September 30, 2014
In millions of dollars
Corporate
Consumer
Total
Corporate
Consumer
Total
Allowance for loan losses at beginning of period
$
2,389

$
13,605

$
15,994

$
2,584

$
17,064

$
19,648

Charge-offs
(219
)
(6,642
)
(6,861
)
(264
)
(8,117
)
(8,381
)
Recoveries
76

1,245

1,321

126

1,530

1,656

Replenishment of net charge-offs
143

5,397

5,540

138

6,587

6,725

Net reserve builds (releases)
174

(421
)
(247
)
(226
)
(1,347
)
(1,573
)
Net specific reserve builds (releases)
(38
)
(403
)
(441
)
2

(207
)
(205
)
Other
(9
)
(1,671
)
(1,680
)
(20
)
(935
)
(955
)
Ending balance
$
2,516

$
11,110

$
13,626

$
2,340

$
14,575

$
16,915


 
September 30, 2015
December 31, 2014
In millions of dollars
Corporate
Consumer
Total
Corporate
Consumer
Total
Allowance for loan losses
 

 

 

 
 
 
Determined in accordance with ASC 450
$
2,271

$
8,282

$
10,553

$
2,110

$
9,673

$
11,783

Determined in accordance with ASC 310-10-35
242

2,810

3,052

235

3,917

4,152

Determined in accordance with ASC 310-30
3

18

21

44

15

59

Total allowance for loan losses
$
2,516

$
11,110

$
13,626

$
2,389

$
13,605

$
15,994

Loans, net of unearned income
 
 
 
 
 


Loans collectively evaluated for impairment in accordance with ASC 450
$
281,785

$
319,378

$
601,163

$
267,271

$
350,199

$
617,470

Loans individually evaluated for impairment in accordance with ASC 310-10-35
1,801

13,647

15,448

1,485

19,358

20,843

Loans acquired with deteriorated credit quality in accordance with ASC 310-30
9

311

320

51

370

421

Loans held at fair value
5,476

37

5,513

5,858

43

5,901

Total loans, net of unearned income
$
289,071

$
333,373

$
622,444

$
274,665

$
369,970

$
644,635