Exhibit 99.2

SYNCHRONY FINANCIAL
FINANCIAL SUMMARY
(unaudited, in millions, except per share statistics)
Quarter EndedTwelve Months Ended
Dec 31,
2021
Sep 30,
2021
Jun 30,
2021
Mar 31,
2021
Dec 31,
2020
4Q'21 vs. 4Q'20Dec 31,
2021
Dec 31,
2020
YTD'21 vs. YTD'20
EARNINGS
Net interest income$3,830 $3,658 $3,312 $3,439 $3,659 $171 4.7 %$14,239  $14,402 $(163)(1.1)%
Retailer share arrangements(1,267)(1,266)(1,006)(989)(1,047)(220)21.0 %(4,528)(3,645)(883)24.2 %
Provision for credit losses561 25 (194)334 750 (189)(25.2)%726 5,310 (4,584)(86.3)%
Net interest income, after retailer share arrangements and provision for credit losses2,002 2,367 2,500 2,116 1,862 140 7.5 %8,985 5,447 3,538 65.0 %
Other income167 94 89 131 82 85 103.7 %481 405 76 18.8 %
Other expense1,122 961 948 932 1,000 122 12.2 %3,963 4,055 (92)(2.3)%
Earnings before provision for income taxes1,047 1,500 1,641 1,315 944 103 10.9 %5,503 1,797 3,706 206.2 %
Provision for income taxes234 359 399 290 206 28 13.6 %1,282 412 870 211.2 %
Net earnings$813 $1,141 $1,242 $1,025 $738 $75 10.2 %$4,221 $1,385 $2,836 204.8 %
Net earnings available to common stockholders$803 $1,130 $1,232 $1,014 $728 $75 10.3 %$4,179 $1,343 $2,836 211.2 %
COMMON SHARE STATISTICS
Basic EPS $1.49 $2.02 $2.13 $1.74 $1.25 $0.24 19.2 %$7.40 $2.28 $5.12 224.6 %
Diluted EPS $1.48 $2.00 $2.12 $1.73 $1.24 $0.24 19.4 %$7.34 $2.27 $5.07 223.3 %
Dividend declared per share$0.22 $0.22 $0.22 $0.22 $0.22 $— — %$0.88 $0.88 $— — %
Common stock price$46.39 $48.88 $48.52 $40.66 $34.71 $11.68 33.7 %$46.39 $34.71 $11.68 33.7 %
Book value per share $24.53 $24.13 $23.48 $21.86 $20.49 $4.04 19.7 %$24.53 $20.49 $4.04 19.7 %
Tangible common equity per share(1)
$20.21 $20.12 $19.64 $17.95 $16.72 $3.49 20.9 %$20.21 $16.72 $3.49 20.9 %
Beginning common shares outstanding547.2 573.4 581.1 584.0 583.8 (36.6)(6.3)%584.0 615.9 (31.9)(5.2)%
Issuance of common shares— — — — — — — %— — — — %
Stock-based compensation0.1 0.5 1.0 2.2 0.2 (0.1)(50.0)%3.8 1.7 2.1 123.5 %
Shares repurchased(20.5)(26.7)(8.7)(5.1)— (20.5)NM(61.0)(33.6)(27.4)81.5 %
Ending common shares outstanding526.8 547.2 573.4 581.1 584.0 (57.2)(9.8)%526.8 584.0 (57.2)(9.8)%
Weighted average common shares outstanding 537.8 560.6 577.2 583.3 583.9 (46.1)(7.9)%564.6 589.0 (24.4)(4.1)%
Weighted average common shares outstanding (fully diluted) 543.0 565.6 581.7 587.5 586.6 (43.6)(7.4)%569.3 590.8 (21.5)(3.6)%
(1) Tangible Common Equity ("TCE") is a non-GAAP measure. For corresponding reconciliation of TCE to a GAAP financial measure, see Reconciliation of Non-GAAP Measures and Calculations of Regulatory Measures.
1


SYNCHRONY FINANCIAL
SELECTED METRICS
(unaudited, $ in millions)
Quarter EndedTwelve Months Ended
Dec 31,
2021
Sep 30,
2021
Jun 30,
2021
Mar 31,
2021
Dec 31,
2020
4Q'21 vs. 4Q'20Dec 31,
2021
Dec 31,
2020
YTD'21 vs. YTD'20
PERFORMANCE METRICS
Return on assets(1)
3.4 %4.9 %5.3 %4.3 %3.1 %0.3 %4.5 %1.4 %3.1 %
Return on equity(2)
23.0 %32.1 %36.5 %31.8 %23.6 %(0.6)%30.8 %11.2 %19.6 %
Return on tangible common equity(3)
28.7 %40.1 %46.3 %40.8 %30.4 %(1.7)%38.8 %14.4 %24.4 %
Net interest margin(4)
15.77 %15.45 %13.78 %13.98 %14.64 %1.13 %14.74 %14.29 %0.45 %
Efficiency ratio(5)
41.1 %38.7 %39.6 %36.1 %37.1 %4.0 %38.9 %36.3 %2.6 %
Other expense as a % of average loan receivables, including held for sale5.44 %4.84 %4.95 %4.82 %5.01 %0.43 %5.02 %5.06 %(0.04)%
Effective income tax rate22.3 %23.9 %24.3 %22.1 %21.8 %0.5 %23.3 %22.9 %0.4 %
CREDIT QUALITY METRICS
Net charge-offs as a % of average loan receivables, including held for sale2.37 %2.18 %3.57 %3.62 %3.16 %(0.79)%2.92 %4.58 %(1.66)%
30+ days past due as a % of period-end loan receivables(6)
2.62 %2.42 %2.11 %2.83 %3.07 %(0.45)%2.62 %3.07 %(0.45)%
90+ days past due as a % of period-end loan receivables(6)
1.17 %1.05 %1.00 %1.52 %1.40 %(0.23)%1.17 %1.40 %(0.23)%
Net charge-offs$489 $432 $684 $699 $631 $(142)(22.5)%$2,304 $3,668 $(1,364)(37.2)%
Loan receivables delinquent over 30 days(6)
$2,114 $1,850 $1,653 $2,175 $2,514 $(400)(15.9)%$2,114 $2,514 $(400)(15.9)%
Loan receivables delinquent over 90 days(6)
$942 $804 $784 $1,170 $1,143 $(201)(17.6)%$942 $1,143 $(201)(17.6)%
Allowance for credit losses (period-end)$8,688 $8,616 $9,023 $9,901 $10,265 $(1,577)(15.4)%$8,688 $10,265 $(1,577)(15.4)%
Allowance coverage ratio(7)
10.76 %11.28 %11.51 %12.88 %12.54 %(1.78)%10.76 %12.54 %(1.78)%
BUSINESS METRICS
Purchase volume(8)(9)
$47,072 $41,912 $42,121 $34,749 $39,874 $7,198 18.1 %$165,854 $139,084 $26,770 19.2 %
Period-end loan receivables$80,740 $76,388 $78,374 $76,858 $81,867 $(1,127)(1.4)%$80,740 $81,867 $(1,127)(1.4)%
Credit cards$76,628 $72,289 $74,429 $73,244 $78,455 $(1,827)(2.3)%$76,628 $78,455 $(1,827)(2.3)%
Consumer installment loans$2,675 $2,614 $2,507 $2,319 $2,125 $550 25.9 %$2,675 $2,125 $550 25.9 %
Commercial credit products$1,372 $1,401 $1,379 $1,248 $1,250 $122 9.8 %$1,372 $1,250 $122 9.8 %
Other$65 $84 $59 $47 $37 $28 75.7 %$65 $37 $28 75.7 %
Average loan receivables, including held for sale$81,784 $78,714 $76,821 $78,358 $79,452 $2,332 2.9 %$78,928 $80,138 $(1,210)(1.5)%
Period-end active accounts (in thousands)(9)(10)
72,420 67,245 66,892 65,219 68,540 3,880 5.7 %72,420 68,540 3,880 5.7 %
Average active accounts (in thousands)(9)(10)
69,397 67,189 65,810 66,280 66,261 3,136 4.7 %67,334 67,131 203 0.3 %
LIQUIDITY
Liquid assets
Cash and equivalents$8,337 $9,806 $11,117 $16,620 $11,524 $(3,187)(27.7)%$8,337 $11,524 $(3,187)(27.7)%
Total liquid assets$12,989 $14,664 $16,297 $22,636 $18,321 $(5,332)(29.1)%$12,989 $18,321 $(5,332)(29.1)%
Undrawn credit facilities
Undrawn credit facilities$2,700 $3,700 $4,900 $5,400 $5,400 $(2,700)(50.0)%$2,700 $5,400 $(2,700)(50.0)%
Total liquid assets and undrawn credit facilities$15,689 $18,364 $21,197 $28,036 $23,721 $(8,032)(33.9)%$15,689 $23,721 $(8,032)(33.9)%
Liquid assets % of total assets13.57 %15.95 %17.71 %23.62 %19.09 %(5.52)%13.57 %19.09 %(5.52)%
Liquid assets including undrawn credit facilities % of total assets16.39 %19.97 %23.04 %29.25 %24.72 %(8.33)%16.39 %24.72 %(8.33)%
(1) Return on assets represents net earnings as a percentage of average total assets.
(2) Return on equity represents net earnings as a percentage of average total equity.
(3) Return on tangible common equity represents net earnings available to common stockholders as a percentage of average tangible common equity. Tangible common equity ("TCE") is a non-GAAP measure. For corresponding reconciliation of TCE to a GAAP financial measure, see Reconciliation of Non-GAAP Measures and Calculations of Regulatory Measures.
(4) Net interest margin represents net interest income divided by average interest-earning assets.
(5) Efficiency ratio represents (i) other expense, divided by (ii) net interest income, plus other income, less retailer share arrangements.
(6) Based on customer statement-end balances extrapolated to the respective period-end date.
(7) Allowance coverage ratio represents allowance for credit losses divided by total period-end loan receivables.
(8) Purchase volume, or net credit sales, represents the aggregate amount of charges incurred on credit cards or other credit product accounts less returns during the period.
(9) Includes activity and accounts associated with loan receivables held for sale.
(10) Active accounts represent credit card or installment loan accounts on which there has been a purchase, payment or outstanding balance in the current month.
2


SYNCHRONY FINANCIAL
STATEMENTS OF EARNINGS
(unaudited, $ in millions)
Quarter EndedTwelve Months Ended
Dec 31,
2021
Sep 30,
2021
Jun 30,
2021
Mar 31,
2021
Dec 31,
2020
4Q'21 vs. 4Q'20Dec 31,
2021
Dec 31,
2020
YTD'21 vs. YTD'20
Interest income: 
Interest and fees on loans$4,042 $3,887 $3,567 $3,732 $3,981 $61 1.5 %$15,228 $15,950 $(722)(4.5)%
Interest on cash and debt securities11 11 11 10 12 (1)(8.3)%43 117 (74)(63.2)%
Total interest income4,053 3,898 3,578 3,742 3,993 60 1.5 %15,271 16,067 (796)(5.0)%
Interest expense:
Interest on deposits119 131 146 170 200 (81)(40.5)%566 1,094 (528)(48.3)%
Interest on borrowings of consolidated securitization entities33 41 44 51 52 (19)(36.5)%169 237 (68)(28.7)%
Interest on senior unsecured notes71 68 76 82 82 (11)(13.4)%297 334 (37)(11.1)%
Total interest expense223 240 266 303 334 (111)(33.2)%1,032 1,665 (633)(38.0)%
Net interest income3,830 3,658 3,312 3,439 3,659 171 4.7 %14,239 14,402 (163)(1.1)%
Retailer share arrangements(1,267)(1,266)(1,006)(989)(1,047)(220)21.0 %(4,528)(3,645)(883)24.2 %
Provision for credit losses561 25 (194)334 750 (189)(25.2)%726 5,310 (4,584)(86.3)%
Net interest income, after retailer share arrangements and provision for credit losses2,002 2,367 2,500 2,116 1,862 140 7.5 %8,985 5,447 3,538 65.0 %
Other income:
Interchange revenue254 232 223 171 185 69 37.3 %880 652 228 35.0 %
Debt cancellation fees79 70 66 69 72 9.7 %284 278 2.2 %
Loyalty programs(310)(256)(247)(179)(202)(108)53.5 %(992)(649)(343)52.9 %
Other144 48 47 70 27 117 NM309 124 185 149.2 %
Total other income167 94 89 131 82 85 103.7 %481 405 76 18.8 %
Other expense:
Employee costs409 369 359 364 347 62 17.9 %1,501 1,380 121 8.8 %
Professional fees207 196 189 190 186 21 11.3 %782 759 23 3.0 %
Marketing and business development167 110 114 95 139 28 20.1 %486 448 38 8.5 %
Information processing143 139 137 131 128 15 11.7 %550 492 58 11.8 %
Other196 147 149 152 200 (4)(2.0)%644 976 (332)(34.0)%
Total other expense1,122 961 948 932 1,000 122 12.2 %3,963 4,055 (92)(2.3)%
Earnings before provision for income taxes1,047 1,500 1,641 1,315 944 103 10.9 %5,503 1,797 3,706 206.2 %
Provision for income taxes234 359 399 290 206 28 13.6 %1,282 412 870 211.2 %
Net earnings$813 $1,141 $1,242 $1,025 $738 $75 10.2 %$4,221 $1,385 $2,836 204.8 %
Net earnings available to common stockholders$803 $1,130 $1,232 $1,014 $728 $75 10.3 %$4,179 $1,343 $2,836 211.2 %

3


SYNCHRONY FINANCIAL
STATEMENTS OF FINANCIAL POSITION
(unaudited, $ in millions)
Quarter Ended
Dec 31,
2021
Sep 30,
2021
Jun 30,
2021
Mar 31,
2021
Dec 31,
2020
Dec 31, 2021 vs.
Dec 31, 2020
Assets
Cash and equivalents$8,337 $9,806 $11,117 $16,620 $11,524 $(3,187)(27.7)%
Debt securities5,283 5,444 5,728 6,550 7,469 (2,186)(29.3)%
Loan receivables:
Unsecuritized loans held for investment60,211 56,745 55,994 53,823 56,472 3,739 6.6 %
Restricted loans of consolidated securitization entities20,529 19,643 22,380 23,035 25,395 (4,866)(19.2)%
Total loan receivables80,740 76,388 78,374 76,858 81,867 (1,127)(1.4)%
Less: Allowance for credit losses(8,688)(8,616)(9,023)(9,901)(10,265)1,577 (15.4)%
Loan receivables, net72,052 67,772 69,351 66,957 71,602 450 0.6 %
Loan receivables held for sale4,361 3,450 — 23 4,356 NM
Goodwill1,105 1,105 1,105 1,104 1,078 27 2.5 %
Intangible assets, net1,168 1,090 1,098 1,169 1,125 43 3.8 %
Other assets3,442 3,270 3,618 3,431 3,145 297 9.4 %
Total assets$95,748 $91,937 $92,017 $95,854 $95,948 $(200)(0.2)%
Liabilities and Equity
Deposits:
Interest-bearing deposit accounts$61,911 $59,998 $59,500 $62,419 $62,469 $(558)(0.9)%
Non-interest-bearing deposit accounts359 355 341 342 313 46 14.7 %
Total deposits62,270 60,353 59,841 62,761 62,782 (512)(0.8)%
Borrowings:
Borrowings of consolidated securitization entities7,288 6,288 6,987 7,193 7,810 (522)(6.7)%
Senior unsecured notes7,219 6,472 6,470 7,967 7,965 (746)(9.4)%
Total borrowings14,507 12,760 13,457 15,160 15,775 (1,268)(8.0)%
Accrued expenses and other liabilities5,316 4,888 4,522 4,494 4,690 626 13.3 %
Total liabilities82,093 78,001 77,820 82,415 83,247 (1,154)(1.4)%
Equity:
Preferred stock734 734 734 734 734 — — %
Common stock— — %
Additional paid-in capital9,669 9,649 9,620 9,592 9,570 99 1.0 %
Retained earnings14,245 13,562 12,560 11,470 10,621 3,624 34.1 %
Accumulated other comprehensive income (loss)(69)(64)(56)(56)(51)(18)35.3 %
Treasury stock(10,925)(9,946)(8,662)(8,302)(8,174)(2,751)33.7 %
Total equity13,655 13,936 14,197 13,439 12,701 954 7.5 %
Total liabilities and equity$95,748 $91,937 $92,017 $95,854 $95,948 $(200)(0.2)%

4


SYNCHRONY FINANCIAL
AVERAGE BALANCES, NET INTEREST INCOME AND NET INTEREST MARGIN
(unaudited, $ in millions)
Quarter Ended
Dec 31, 2021Sep 30, 2021Jun 30, 2021Mar 31, 2021Dec 31, 2020
InterestAverageInterestAverageInterestAverageInterestAverageInterestAverage
AverageIncome/Yield/AverageIncome/Yield/AverageIncome/Yield/AverageIncome/Yield/AverageIncome/Yield/
BalanceExpenseRateBalanceExpenseRateBalanceExpenseRateBalanceExpenseRateBalanceExpenseRate
Assets
Interest-earning assets:
Interest-earning cash and equivalents$9,024 $0.18 %$9,559 $0.12 %$13,584 $0.12 %$14,610 $0.11 %$11,244 $0.14 %
Securities available for sale5,517 0.50 %5,638 0.56 %5,988 0.47 %6,772 0.36 %8,706 0.37 %
Loan receivables, including held for sale:
Credit cards77,642 3,946 20.16 %74,686 3,793 20.15 %72,989 3,484 19.15 %74,865 3,657 19.81 %76,039 3,908 20.45 %
Consumer installment loans2,641 65 9.76 %2,555 64 9.94 %2,417 59 9.79 %2,219 53 9.69 %2,057 50 9.67 %
Commercial credit products1,434 30 8.30 %1,407 29 8.18 %1,363 23 6.77 %1,231 21 6.92 %1,293 23 7.08 %
Other67 NM66 NM52 NM43 NM63 — — %
Total loan receivables, including held for sale81,784 4,042 19.61 %78,714 3,887 19.59 %76,821 3,567 18.62 %78,358 3,732 19.32 %79,452 3,981 19.93 %
Total interest-earning assets96,325 4,053 16.69 %93,911 3,898 16.47 %96,393 3,578 14.89 %99,740 3,742 15.22 %99,402 3,993 15.98 %
Non-interest-earning assets:
Cash and due from banks1,606 1,588 1,559 1,635 1,525 
Allowance for credit losses(8,648)(8,956)(9,801)(10,225)(10,190)
Other assets5,424 5,405 5,238 5,305 5,228 
Total non-interest-earning assets(1,618)(1,963)(3,004)(3,285)(3,437)
Total assets$94,707 $91,948 $93,389 $96,455 $95,965 
Liabilities
Interest-bearing liabilities:
Interest-bearing deposit accounts$61,090 $119 0.77 %$59,275 $131 0.88 %$60,761 $146 0.96 %$62,724 $170 1.10 %$62,800 $200 1.27 %
Borrowings of consolidated securitization entities7,105 33 1.84 %7,051 41 2.31 %7,149 44 2.47 %7,694 51 2.69 %7,809 52 2.65 %
Senior unsecured notes6,999 71 4.02 %6,471 68 4.17 %7,276 76 4.19 %7,965 82 4.18 %7,963 82 4.10 %
Total interest-bearing liabilities75,194 223 1.18 %72,797 240 1.31 %75,186 266 1.42 %78,383 303 1.57 %78,572 334 1.69 %
Non-interest-bearing liabilities
Non-interest-bearing deposit accounts343 358 349 346 308 
Other liabilities5,137 4,676 4,199 4,655 4,663 
Total non-interest-bearing liabilities5,480 5,034 4,548 5,001 4,971 
Total liabilities80,674 77,831 79,734 83,384 83,543 
Equity
Total equity14,033 14,117 13,655 13,071 12,422 
Total liabilities and equity$94,707 $91,948 $93,389 $96,455 $95,965 
Net interest income$3,830 $3,658 $3,312 $3,439 $3,659 
Interest rate spread(1)
15.51 %15.16 %13.47 %13.65 %14.29 %
Net interest margin(2)
15.77 %15.45 %13.78 %13.98 %14.64 %
(1) Interest rate spread represents the difference between the yield on total interest-earning assets and the rate on total interest-bearing liabilities.
(2) Net interest margin represents net interest income divided by average interest-earning assets.

5


SYNCHRONY FINANCIAL
AVERAGE BALANCES, NET INTEREST INCOME AND NET INTEREST MARGIN
(unaudited, $ in millions)
Twelve Months Ended
Dec 31, 2021
Twelve Months Ended
Dec 31, 2020
InterestAverageInterestAverage
AverageIncome/Yield/AverageIncome/Yield/
BalanceExpenseRateBalanceExpenseRate
Assets
Interest-earning assets:
Interest-earning cash and equivalents$11,673 $15 0.13 %$13,301 $53 0.40 %
Securities available for sale5,975 28 0.47 %7,367 64 0.87 %
Loan receivables, including held for sale:
Credit cards75,052 14,880 19.83 %77,115 15,672 20.32 %
Consumer installment loans2,460 241 9.80 %1,733 168 9.69 %
Commercial credit products1,359 103 7.58 %1,231 108 8.77 %
Other57 7.02 %59 3.39 %
Total loan receivables, including held for sale78,928 15,228 19.29 %80,138 15,950 19.90 %
Total interest-earning assets96,576 15,271 15.81 %100,806 16,067 15.94 %
Non-interest-earning assets:
Cash and due from banks1,597 1,488 
Allowance for loan losses(9,402)(9,488)
Other assets5,343 4,932 
Total non-interest-earning assets(2,462)(3,068)
Total assets$94,114 $97,738 
Liabilities
Interest-bearing liabilities:
Interest-bearing deposit accounts$60,953 $566 0.93 %$63,755 $1,094 1.72 %
Borrowings of consolidated securitization entities7,248 169 2.33 %8,675 237 2.73 %
Senior unsecured notes7,173 297 4.14 %8,171 334 4.09 %
Total interest-bearing liabilities75,374 1,032 1.37 %80,601 1,665 2.07 %
Non-interest-bearing liabilities
Non-interest-bearing deposit accounts349 306 
Other liabilities4,668 4,498 
Total non-interest-bearing liabilities5,017 4,804 
Total liabilities80,391 85,405 
Equity
Total equity13,723 12,333 
Total liabilities and equity$94,114 $97,738 
Net interest income$14,239 $14,402 
Interest rate spread(1)
14.44 %13.87 %
Net interest margin(2)
14.74 %14.29 %
(1) Interest rate spread represents the difference between the yield on total interest-earning assets and the rate on total interest-bearing liabilities.
(2) Net interest margin represents net interest income divided by average interest-earning assets.

6


SYNCHRONY FINANCIAL
BALANCE SHEET STATISTICS
(unaudited, $ in millions, except per share statistics)
Quarter Ended
Dec 31,
2021
Sep 30,
2021
Jun 30,
2021
Mar 31,
2021
Dec 31,
2020
Dec 31, 2021 vs.
Dec 31, 2020
BALANCE SHEET STATISTICS
Total common equity$12,921 $13,202 $13,463 $12,705 $11,967 $954 8.0 %
Total common equity as a % of total assets13.49 %14.36 %14.63 %13.25 %12.47 %1.02 %
Tangible assets$93,475 $89,742 $89,814 $93,581 $93,745 $(270)(0.3)%
Tangible common equity(1)
$10,648 $11,007 $11,260 $10,432 $9,764 $884 9.1 %
Tangible common equity as a % of tangible assets(1)
11.39 %12.27 %12.54 %11.15 %10.42 %0.97 %
Tangible common equity per share(1)
$20.21 $20.12 $19.64 $17.95 $16.72 $3.49 20.9 %
REGULATORY CAPITAL RATIOS(2)(3)
Basel III - CECL Transition
Total risk-based capital ratio(4)
17.8 %19.3 %20.1 %19.7 %18.1 %
Tier 1 risk-based capital ratio(5)
16.5 %18.0 %18.7 %18.3 %16.8 %
Tier 1 leverage ratio(6)
14.7 %15.5 %15.6 %14.5 %14.0 %
Common equity Tier 1 capital ratio15.6 %17.1 %17.8 %17.4 %15.9 %
(1) Tangible common equity ("TCE") is a non-GAAP measure. We believe TCE is a more meaningful measure of the net asset value of the Company to investors. For corresponding reconciliation of TCE to a GAAP financial measure, see Reconciliation of Non-GAAP Measures and Calculations of Regulatory Measures.
(2) Regulatory capital ratios at December 31, 2021 are preliminary and therefore subject to change.
(3) Capital ratios starting March 31, 2020 reflect election to delay for two years an estimate of CECL’s effect on regulatory capital in accordance with the interim final rule issued by U.S. banking agencies in March 2020.
(4) Total risk-based capital ratio is the ratio of total risk-based capital divided by risk-weighted assets.
(5) Tier 1 risk-based capital ratio is the ratio of Tier 1 capital divided by risk-weighted assets.
(6) Tier 1 leverage ratio is the ratio of Tier 1 capital divided by total average assets, after certain adjustments. Tier 1 leverage ratios are based upon the use of daily averages for all periods presented.

7


SYNCHRONY FINANCIAL
PLATFORM RESULTS
(unaudited, unrounded, $ in millions)
Quarter EndedTwelve Months Ended
Dec 31,
 2021
Sep 30,
2021
Jun 30,
 2021
Mar 31,
2021
Dec 31,
2020
4Q'21 vs. 4Q'20Dec 31, 2021Dec 31, 2020YTD'21 vs. YTD'20
HOME & AUTO(6)
Purchase volume(1)
$10,919 $11,069 $11,523 $9,337 $9,698 $1,221 12.6 %$42,848 $37,422 $5,426 14.5 %
Period-end loan receivables$26,781 $26,210 $25,588 $24,942 $25,935 $846 3.3 %$26,781 $25,935 $846 3.3 %
Average loan receivables, including held for sale$26,455 $25,800 $25,111 $25,273 $25,678 $777 3.0 %$25,663 $25,663 $— — %
Average active accounts (in thousands)(3)
17,655 17,516 17,307 17,149 17,437 218 1.3 %17,414 17,578 (164)(0.9)%
Interest and fees on loans$1,126 $1,092 $993 $1,036 $1,121 $0.4 %$4,247 $4,402 $(155)(3.5)%
Other income$18 $18 $16 $17 $15 $20.0 %$69 $60 $15.0 %
DIGITAL
Purchase volume(1)
$13,451 $10,980 $10,930 $9,340 $11,005 $2,446 22.2 %$44,701 $35,876 $8,825 24.6 %
Period-end loan receivables$21,751 $19,636 $19,233 $18,907 $20,427 $1,324 6.5 %$21,751 $20,427 $1,324 6.5 %
Average loan receivables, including held for sale$20,388 $19,286 $18,783 $19,437 $19,392 $996 5.1 %$19,475 $19,253 $222 1.2 %
Average active accounts (in thousands)(3)
18,375 17,655 17,258 17,318 16,898 1,477 8.7 %17,685 16,593 1,092 6.6 %
Interest and fees on loans$1,025 $973 $891 $903 $976 $49 5.0 %$3,792 $3,801 $(9)(0.2)%
Other income$(28)$(19)$(28)$(12)$(26)$(2)7.7 %$(87)$(54)$(33)61.1 %
DIVERSIFIED & VALUE
Purchase volume(1)
$14,154 $12,006 $11,618 $9,220 $11,267 $2,887 25.6 %$46,998 $37,985 $9,013 23.7 %
Period-end loan receivables$16,075 $14,415 $14,357 $14,217 $15,761 $314 2.0 %$16,075 $15,761 $314 2.0 %
Average loan receivables, including held for sale$14,999 $14,328 $14,101 $14,574 $15,024 $(25)(0.2)%$14,501 $15,724 $(1,223)(7.8)%
Average active accounts (in thousands)(3)
18,829 17,903 17,301 17,457 17,324 1,505 8.7 %17,953 17,987 (34)(0.2)%
Interest and fees on loans$817 $780 $729 $789 $822 $(5)(0.6)%$3,115 $3,528 $(413)(11.7)%
Other income$(23)$(8)$(2)$$20 $(43)(215.0)%$(28)$90 $(118)(131.1)%
HEALTH & WELLNESS
Purchase volume(1)
$3,055 $3,024 $2,988 $2,648 $2,676 $379 14.2 %$11,715 $10,025 $1,690 16.9 %
Period-end loan receivables$10,244 $9,879 $9,515 $9,317 $9,580 $664 6.9 %$10,244 $9,580 $664 6.9 %
Average loan receivables, including held for sale$10,057 $9,654 $9,334 $9,442 $9,476 $581 6.1 %$9,623 $9,591 $32 0.3 %
Average active accounts (in thousands)(3)
5,922 5,707 5,585 5,706 5,724 198 3.5 %5,739 5,952 (213)(3.6)%
Interest and fees on loans$603 $587 $523 $558 $589 $14 2.4 %$2,271 $2,273 $(2)(0.1)%
Other income$42 $41 $36 $40 $27 $15 55.6 %$159 $107 $52 48.6 %
LIFESTYLE
Purchase volume(1)
$1,462 $1,298 $1,405 $1,154 $1,383 $79 5.7 %$5,319 $4,933 $386 7.8 %
Period-end loan receivables$5,479 $5,234 $5,158 $4,988 $5,098 $381 7.5 %$5,479 $5,098 $381 7.5 %
Average loan receivables, including held for sale$5,297 $5,185 $5,050 $5,003 $4,920 $377 7.7 %$5,135 $4,727 $408 8.6 %
Average active accounts (in thousands)(3)
2,548 2,465 2,442 2,573 2,536 12 0.5 %2,515 2,568 (53)(2.1)%
Interest and fees on loans$194 $187 $182 $181 $187 $3.7 %$744 $734 $10 1.4 %
Other income$$$$$$— — %$23 $20 $15.0 %
CORP, OTHER(4)(6)
Purchase volume(1)(2)
$4,031 $3,535 $3,657 $3,050 $3,845 $186 4.8 %$14,273 $12,843 $1,430 11.1 %
Period-end loan receivables(5)
$410 $1,014 $4,523 $4,487 $5,066 $(4,656)(91.9)%$410 $5,066 $(4,656)(91.9)%
Average loan receivables, including held for sale$4,588 $4,461 $4,442 $4,629 $4,962 $(374)(7.5)%$4,531 $5,180 $(649)(12.5)%
Average active accounts (in thousands)(2)(3)
6,068 5,943 5,917 6,077 6,342 (274)(4.3)%6,028 6,453 (425)(6.6)%
Interest and fees on loans$277 $268 $249 $265 $286 $(9)(3.1)%$1,059 $1,212 $(153)(12.6)%
Other income$152 $56 $61 $76 $40 $112 280.0 %$345 $182 $163 89.6 %
TOTAL SYF
Purchase volume(1)(2)
$47,072 $41,912 $42,121 $34,749 $39,874 $7,198 18.1 %$165,854 $139,084 $26,770 19.2 %
Period-end loan receivables(5)
$80,740 $76,388 $78,374 $76,858 $81,867 $(1,127)(1.4)%$80,740 $81,867 $(1,127)(1.4)%
Average loan receivables, including held for sale$81,784 $78,714 $76,821 $78,358 $79,452 $2,332 2.9 %$78,928 $80,138 $(1,210)(1.5)%
Average active accounts (in thousands)(2)(3)
69,397 67,189 65,810 66,280 66,261 3,136 4.7 %67,334 67,131 203 0.3 %
Interest and fees on loans$4,042 $3,887 $3,567 $3,732 $3,981 $61 1.5 %$15,228 $15,950 $(722)(4.5)%
Other income$167 $94 $89 $131 $82 $85 103.7 %$481 $405 $76 18.8 %
(1) Purchase volume, or net credit sales, represents the aggregate amount of charges incurred on credit cards or other credit product accounts less returns during the period.
(2) Includes activity and balances associated with loan receivables held for sale.
(3) Active accounts represent credit card or installment loan accounts on which there has been a purchase, payment or outstanding balance in the current month.
(4) Includes activity and balances associated with our program agreement with Gap Inc. and BP except where noted, which are both scheduled to expire in 2Q 2022.
(5) Reflects the reclassification of $3.5 billion and $0.5 billion to loan receivables held for sale in 3Q 2021 and 4Q 2021, respectively.
(6) In December 2021, we entered into an agreement to sell $0.5 billion of loan receivables associated with our program agreement with BP. In connection with this agreement, revenue activities for the BP portfolio are no longer managed within our Home & Auto sales platform. All metrics for the BP portfolio previously reported within our Home & Auto sales platform, are now reported within our Corp, Other information. We have recast all prior-period reported metrics for our Home & Auto sales platform and Corp, Other to conform to the current-period presentation.

8


SYNCHRONY FINANCIAL
RECONCILIATION OF NON-GAAP MEASURES AND CALCULATIONS OF REGULATORY MEASURES(1)
(unaudited, $ in millions, except per share statistics)
Quarter Ended
Dec 31,
2021
Sep 30,
2021
Jun 30,
2021
Mar 31,
2021
Dec 31,
2020
COMMON EQUITY AND REGULATORY CAPITAL MEASURES(2)
GAAP Total equity$13,655 $13,936 $14,197 $13,439 $12,701 
Less: Preferred stock(734)(734)(734)(734)(734)
Less: Goodwill(1,105)(1,105)(1,105)(1,104)(1,078)
Less: Intangible assets, net(1,168)(1,090)(1,098)(1,169)(1,125)
Tangible common equity$10,648 $11,007 $11,260 $10,432 $9,764 
Add: CECL transition amount2,292 2,274 2,376 2,595 2,686 
Adjustments for certain deferred tax liabilities and certain items in accumulated comprehensive income (loss)329 299 301 354 341 
Common equity Tier 1 $13,269 $13,580 $13,937 $13,381 $12,791 
Preferred stock734 734 734 734 734 
Tier 1 capital$14,003 $14,314 $14,671 $14,115 $13,525 
Add: Allowance for credit losses includible in risk-based capital1,119 1,052 1,039 1,031 1,079 
Total Risk-based capital$15,122 $15,366 $15,710 $15,146 $14,604 
ASSET MEASURES(2)
Total average assets$94,707 $91,948 $93,389 $96,455 $95,965 
Adjustments for:
Add: CECL transition amount2,292 2,274 2,376 2,595 2,686 
Disallowed goodwill and other disallowed intangible assets
(net of related deferred tax liabilities) and other
(1,999)(1,960)(1,965)(1,987)(1,924)
Total assets for leverage purposes$95,000 $92,262 $93,800 $97,063 $96,727 
Risk-weighted assets$84,950 $79,597 $78,281 $76,965 $80,561 
CECL FULLY PHASED-IN CAPITAL MEASURES
Tier 1 capital$14,003 $14,314 $14,671 $14,115 $13,525 
Less: CECL transition adjustment(2,292)(2,274)(2,376)(2,595)(2,686)
Tier 1 capital (CECL fully phased-in)$11,711 $12,040 $12,295 $11,520 $10,839 
Add: Allowance for credit losses8,688 8,616 9,023 9,901 10,265 
Tier 1 capital (CECL fully phased-in) + Reserves for credit losses$20,399 $20,656 $21,318 $21,421 $21,104 
Risk-weighted assets$84,950 $79,597 $78,281 $76,965 $80,561 
Less: CECL transition adjustment(1,353)(2,065)(2,166)(2,386)(2,477)
Risk-weighted assets (CECL fully phased-in)$83,597 $77,532 $76,115 $74,579 $78,084 
TANGIBLE COMMON EQUITY PER SHARE
GAAP book value per share$24.53 $24.13 $23.48 $21.86 $20.49 
Less: Goodwill(2.10)(2.02)(1.93)(1.90)(1.85)
Less: Intangible assets, net(2.22)(1.99)(1.91)(2.01)(1.92)
Tangible common equity per share$20.21 $20.12 $19.64 $17.95 $16.72 
(1) Regulatory measures at December 31, 2021 are presented on an estimated basis.
(2) Capital ratios starting March 31, 2020 reflect election to delay for two years an estimate of CECL’s effect on regulatory capital in accordance with the interim final rule issued by U.S. banking agencies in March 2020.

9