Exhibit 99.1

SYNCHRONY FINANCIAL
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
MONTHLY CHARGE-OFF AND DELINQUENCY STATISTICS
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
AS OF AND FOR EACH OF THE THIRTEEN MONTHS ENDED
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(unaudited, $ in billions)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
The following table provides monthly charge-off and delinquency statistics as of and for each of the thirteen months ended December 31, 2019.
The decreases in the over-30 day loan delinquencies as a percentage of period-end loan receivables (the “30+ delinquency rate”) at December 31, 2019 and in net charge-offs for the month ended December 31, 2019, each compared to the respective prior year period, are primarily due to the sale of the Walmart consumer portfolio in October 2019.

 
Dec 31,
2019
 
Nov 30,
2019
 
Oct 31,
2019
 
Sep 30,
2019
 
Aug 31,
2019
 
Jul 31,
2019
 
Jun 30,
2019
 
May 31,
2019
 
Apr 30,
2019
 
Mar 31,
2019
 
Feb 28,
2019
 
Jan 31,
2019
 
Dec 31,
2018
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Period-end loan receivables
$
87.2

 
$
84.3

 
$
83.6

 
$
83.2

 
$
83.1

 
$
82.6

 
$
81.8

 
$
81.5

 
$
80.7

 
$
80.4

 
$
80.9

 
$
82.6

 
$
93.1

Average loan receivables, including held for sale
$
86.8

 
$
83.8

 
$
85.5

 
$
91.1

 
$
90.6

 
$
89.9

 
$
89.5

 
$
88.7

 
$
88.2

 
$
88.2

 
$
90.0

 
$
91.5

 
$
92.0

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
30+ days past due as a % of period-end loan receivables
4.4
 %
 
4.6
%
 
4.5
%
 
4.5
 %
 
4.4
 %
 
4.4
 %
 
4.4
 %
 
4.5
 %
 
4.6
 %
 
4.9
 %
 
5.2
 %
 
5.2
 %
 
4.8
 %
Adjustment to exclude Walmart portfolio(1)
—
 %
 
—
%
 
—
%
 
(0.1
)%
 
(0.2
)%
 
(0.3
)%
 
(0.4
)%
 
(0.5
)%
 
(0.5
)%
 
(0.5
)%
 
(0.5
)%
 
(0.6
)%
 
(0.3
)%
Core 30+ delinquency rate(1)
4.4
 %
 
4.6
%
 
4.5
%
 
4.4
 %
 
4.2
 %
 
4.1
 %
 
4.0
 %
 
4.0
 %
 
4.1
 %
 
4.4
 %
 
4.7
 %
 
4.6
 %
 
4.5
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Net charge-offs (annualized) as a % of average loan receivables, including held for sale(2)
5.7
 %
 
4.8
%
 
4.9
%
 
5.3
 %
 
5.4
 %
 
5.4
 %
 
5.4
 %
 
6.1
 %
 
6.5
 %
 
6.4
 %
 
6.1
 %
 
5.7
 %
 
5.8
 %
Recovery adjustment(3)
(0.3
)%
 
0.1
%
 
0.2
%
 
—
 %
 
(0.1
)%
 
—
 %
 
0.1
 %
 
—
 %
 
—
 %
 
(0.3
)%
 
0.3
 %
 
—
 %
 
(0.1
)%
Adjusted net charge-offs as a % of average loan receivables, including held for sale(4)
5.4
 %
 
4.9
%
 
5.1
%
 
5.3
 %
 
5.3
 %
 
5.4
 %
 
5.5
 %
 
6.1
 %
 
6.5
 %
 
6.1
 %
 
6.4
 %
 
5.7
 %
 
5.7
 %
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(1) Core 30+ delinquency rate is a non-GAAP financial measure. This measure represents the Company’s 30+ days past due loan receivables as a percentage of period-end loan receivables, adjusted to exclude the delinquent accounts related to the Walmart portfolio and the effects of the reclassification of loan receivables related to the Walmart portfolio to loan receivables held for sale. The loan receivables held for sale did not include certain loan receivables we expected to charge-off prior to the sale date, leading to a temporary increase in our delinquency metrics. We believe the presentation of this measure is useful to investors as it represents the measure more indicative of the performance of our ongoing credit programs for the periods presented.
(2) Charge-offs are executed on charge-off cycle dates which occur on various days during each calendar month. The number of different charge-off cycle dates in each month varies based on such factors as the calendar and the timing of billing cycles. As a result, the amount of charged-off loan receivables can vary between monthly periods with no corresponding change in the performance of the portfolio. The following table sets forth the number of different charge-off cycle dates for our consumer credit card loan receivables, which represent greater than 95% of total period end loan receivables at December 31, 2019, for the calendar months indicated.
 
2018
 
2019
 
2020
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
January
29
 
28
 
28
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
February
28
 
28
 
26
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
March
25
 
28
 
30
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
April
30
 
28
 
28
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
May
28
 
28
 
28
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
June
26
 
28
 
28
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
July
30
 
29
 
28
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
August
28
 
27
 
28
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
September
28
 
28
 
29
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
October
29
 
28
 
25
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
November
27
 
26
 
30
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
December
28
 
30
 
28
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
(3) Represents adjustment to allocate recoveries, including debt sales, evenly across the three calendar months of each respective quarterly reporting period. The adjustments for periods other than for the last month of each calendar quarter incorporate estimated recoveries for the applicable full quarterly reporting period. Such estimates are subject to change within each applicable quarter and may differ from actual quarterly results.
(4) Adjusted net charge-offs represent a non-GAAP financial measure. Adjusted net charge-offs as a % of average loan receivables, including held for sale, represent the Company's net charge-off rate for each month including the 'recovery adjustment' defined above. We believe the presentation of this measure is useful to investors as it represents a monthly measure which is more indicative of both our quarterly and annual net charge-off rates.


1