Exhibit 99.2

SYNCHRONY FINANCIAL
FINANCIAL SUMMARY
(unaudited, in millions, except per share statistics)
Quarter Ended
Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2021		Mar 31,
2021		1Q'22 vs. 1Q'21
EARNINGS
Net interest income$3,789 $3,830 $3,658 $3,312 $3,439 $350 10.2 %
Retailer share arrangements(1,104)(1,267)(1,266)(1,006)(989)(115)11.6 %
Provision for credit losses521 561 25 (194)334 187 56.0 %
Net interest income, after retailer share arrangements and provision for credit losses2,164 2,002 2,367 2,500 2,116 48 2.3 %
Other income108 167 94 89 131 (23)(17.6)%
Other expense1,039 1,122 961 948 932 107 11.5 %
Earnings before provision for income taxes1,233 1,047 1,500 1,641 1,315 (82)(6.2)%
Provision for income taxes301 234 359 399 290 11 3.8 %
Net earnings$932 $813 $1,141 $1,242 $1,025 $(93)(9.1)%
Net earnings available to common stockholders$922 $803 $1,130 $1,232 $1,014 $(92)(9.1)%
COMMON SHARE STATISTICS
Basic EPS $1.79 $1.49 $2.02 $2.13 $1.74 $0.05 2.9 %
Diluted EPS $1.77 $1.48 $2.00 $2.12 $1.73 $0.04 2.3 %
Dividend declared per share$0.22 $0.22 $0.22 $0.22 $0.22 $— — %
Common stock price$34.82 $46.39 $48.88 $48.52 $40.66 $(5.84)(14.4)%
Book value per share $25.06 $24.53 $24.13 $23.48 $21.86 $3.20 14.6 %
Tangible common equity per share(1)
$20.60 $20.21 $20.12 $19.64 $17.95 $2.65 14.8 %
Beginning common shares outstanding526.8 547.2 573.4 581.1 584.0 (57.2)(9.8)%
Issuance of common shares— — — — — — — %
Stock-based compensation1.4 0.1 0.5 1.0 2.2 (0.8)(36.4)%
Shares repurchased(22.0)(20.5)(26.7)(8.7)(5.1)(16.9)NM
Ending common shares outstanding506.2 526.8 547.2 573.4 581.1 (74.9)(12.9)%
Weighted average common shares outstanding 515.3 537.8 560.6 577.2 583.3 (68.0)(11.7)%
Weighted average common shares outstanding (fully diluted) 519.5 543.0 565.6 581.7 587.5 (68.0)(11.6)%
(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 Ended
Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2021		Mar 31,
2021		1Q'22 vs. 1Q'21
PERFORMANCE METRICS
Return on assets(1)
4.0 %3.4 %4.9 %5.3 %4.3 %(0.3)%
Return on equity(2)
27.5 %23.0 %32.1 %36.5 %31.8 %(4.3)%
Return on tangible common equity(3)
34.9 %28.7 %40.1 %46.3 %40.8 %(5.9)%
Net interest margin(4)
15.80 %15.77 %15.45 %13.78 %13.98 %1.82 %
Efficiency ratio(5)
37.2 %41.1 %38.7 %39.6 %36.1 %1.1 %
Other expense as a % of average loan receivables, including held for sale5.09 %5.44 %4.84 %4.95 %4.82 %0.27 %
Effective income tax rate24.4 %22.3 %23.9 %24.3 %22.1 %2.3 %
CREDIT QUALITY METRICS
Net charge-offs as a % of average loan receivables, including held for sale2.73 %2.37 %2.18 %3.57 %3.62 %(0.89)%
30+ days past due as a % of period-end loan receivables(6)
2.78 %2.62 %2.42 %2.11 %2.83 %(0.05)%
90+ days past due as a % of period-end loan receivables(6)
1.30 %1.17 %1.05 %1.00 %1.52 %(0.22)%
Net charge-offs$558 $489 $432 $684 $699 $(141)(20.2)%
Loan receivables delinquent over 30 days(6)
$2,194 $2,114 $1,850 $1,653 $2,175 $19 0.9 %
Loan receivables delinquent over 90 days(6)
$1,026 $942 $804 $784 $1,170 $(144)(12.3)%
Allowance for credit losses (period-end)$8,651 $8,688 $8,616 $9,023 $9,901 $(1,250)(12.6)%
Allowance coverage ratio(7)
10.96 %10.76 %11.28 %11.51 %12.88 %(1.92)%
BUSINESS METRICS
Purchase volume(8)(9)
$40,490 $47,072 $41,912 $42,121 $34,749 $5,741 16.5 %
Period-end loan receivables$78,916 $80,740 $76,388 $78,374 $76,858 $2,058 2.7 %
Credit cards$74,596 $76,628 $72,289 $74,429 $73,244 $1,352 1.8 %
Consumer installment loans$2,719 $2,675 $2,614 $2,507 $2,319 $400 17.2 %
Commercial credit products$1,530 $1,372 $1,401 $1,379 $1,248 $282 22.6 %
Other$71 $65 $84 $59 $47 $24 51.1 %
Average loan receivables, including held for sale$82,747 $81,784 $78,714 $76,821 $78,358 $4,389 5.6 %
Period-end active accounts (in thousands)(9)(10)
69,122 72,420 67,245 66,892 65,219 3,903 6.0 %
Average active accounts (in thousands)(9)(10)
70,127 69,397 67,189 65,810 66,280 3,847 5.8 %
LIQUIDITY
Liquid assets
Cash and equivalents$10,541 $8,337 $9,806 $11,117 $16,620 $(6,079)(36.6)%
Total liquid assets$14,687 $12,989 $14,664 $16,297 $22,636 $(7,949)(35.1)%
Undrawn credit facilities
Undrawn credit facilities$3,100 $2,700 $3,700 $4,900 $5,400 $(2,300)(42.6)%
Total liquid assets and undrawn credit facilities$17,787 $15,689 $18,364 $21,197 $28,036 $(10,249)(36.6)%
Liquid assets % of total assets15.42 %13.57 %15.95 %17.71 %23.62 %(8.20)%
Liquid assets including undrawn credit facilities % of total assets18.67 %16.39 %19.97 %23.04 %29.25 %(10.58)%
(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 Ended
Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2021		Mar 31,
2021		1Q'22 vs. 1Q'21
Interest income:
Interest and fees on loans$4,008 $4,042 $3,887 $3,567 $3,732 $276 7.4 %
Interest on cash and debt securities14 11 11 11 10 4 40.0 %
Total interest income4,022 4,053 3,898 3,578 3,742 280 7.5 %
Interest expense:
Interest on deposits127 119 131 146 170 (43)(25.3)%
Interest on borrowings of consolidated securitization entities33 33 41 44 51 (18)(35.3)%
Interest on senior unsecured notes73 71 68 76 82 (9)(11.0)%
Total interest expense233 223 240 266 303 (70)(23.1)%
Net interest income3,789 3,830 3,658 3,312 3,439 350 10.2 %
Retailer share arrangements(1,104)(1,267)(1,266)(1,006)(989)(115)11.6 %
Provision for credit losses521 561 25 (194)334 187 56.0 %
Net interest income, after retailer share arrangements and provision for credit losses2,164 2,002 2,367 2,500 2,116 48 2.3 %
Other income:
Interchange revenue230 254 232 223 171 59 34.5 %
Debt cancellation fees89 79 70 66 69 20 29.0 %
Loyalty programs(258)(310)(256)(247)(179)(79)44.1 %
Other47 144 48 47 70 (23)(32.9)%
Total other income108 167 94 89 131 (23)(17.6)%
Other expense:
Employee costs402 409 369 359 364 38 10.4 %
Professional fees210 207 196 189 190 20 10.5 %
Marketing and business development116 167 110 114 95 21 22.1 %
Information processing145 143 139 137 131 14 10.7 %
Other166 196 147 149 152 14 9.2 %
Total other expense1,039 1,122 961 948 932 107 11.5 %
Earnings before provision for income taxes1,233 1,047 1,500 1,641 1,315 (82)(6.2)%
Provision for income taxes301 234 359 399 290 11 3.8 %
Net earnings$932 $813 $1,141 $1,242 $1,025 $(93)(9.1)%
Net earnings available to common stockholders$922 $803 $1,130 $1,232 $1,014 $(92)(9.1)%

3

SYNCHRONY FINANCIAL
STATEMENTS OF FINANCIAL POSITION
(unaudited, $ in millions)
Quarter Ended
Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2021		Mar 31,
2021		Mar 31, 2022 vs. Mar 31, 2021
Assets
Cash and equivalents$10,541 $8,337 $9,806 $11,117 $16,620 $(6,079)(36.6)%
Debt securities4,677 5,283 5,444 5,728 6,550 (1,873)(28.6)%
Loan receivables:
Unsecuritized loans held for investment59,643 60,211 56,745 55,994 53,823 5,820 10.8 %
Restricted loans of consolidated securitization entities19,273 20,529 19,643 22,380 23,035 (3,762)(16.3)%
Total loan receivables78,916 80,740 76,388 78,374 76,858 2,058 2.7 %
Less: Allowance for credit losses(8,651)(8,688)(8,616)(9,023)(9,901)1,250 (12.6)%
Loan receivables, net70,265 72,052 67,772 69,351 66,957 3,308 4.9 %
Loan receivables held for sale4,046 4,361 3,450 — 23 4,023 NM
Goodwill1,105 1,105 1,105 1,105 1,104 1 0.1 %
Intangible assets, net1,149 1,168 1,090 1,098 1,169 (20)(1.7)%
Other assets3,484 3,442 3,270 3,618 3,431 53 1.5 %
Total assets$95,267 $95,748 $91,937 $92,017 $95,854 $(587)(0.6)%
Liabilities and Equity
Deposits:
Interest-bearing deposit accounts$63,180 $61,911 $59,998 $59,500 $62,419 $761 1.2 %
Non-interest-bearing deposit accounts395 359 355 341 342 53 15.5 %
Total deposits63,575 62,270 60,353 59,841 62,761 814 1.3 %
Borrowings:
Borrowings of consolidated securitization entities6,139 7,288 6,288 6,987 7,193 (1,054)(14.7)%
Senior unsecured notes7,221 7,219 6,472 6,470 7,967 (746)(9.4)%
Total borrowings13,360 14,507 12,760 13,457 15,160 (1,800)(11.9)%
Accrued expenses and other liabilities4,914 5,316 4,888 4,522 4,494 420 9.3 %
Total liabilities81,849 82,093 78,001 77,820 82,415 (566)(0.7)%
Equity:
Preferred stock734 734 734 734 734 — — %
Common stock1 1 1 1 1 — — %
Additional paid-in capital9,643 9,669 9,649 9,620 9,592 51 0.5 %
Retained earnings15,003 14,245 13,562 12,560 11,470 3,533 30.8 %
Accumulated other comprehensive income (loss)(121)(69)(64)(56)(56)(65)116.1 %
Treasury stock(11,842)(10,925)(9,946)(8,662)(8,302)(3,540)42.6 %
Total equity13,418 13,655 13,936 14,197 13,439 (21)(0.2)%
Total liabilities and equity$95,267 $95,748 $91,937 $92,017 $95,854 $(587)(0.6)%

4

SYNCHRONY FINANCIAL
AVERAGE BALANCES, NET INTEREST INCOME AND NET INTEREST MARGIN
(unaudited, $ in millions)
Quarter Ended
Mar 31, 2022Dec 31, 2021Sep 30, 2021Jun 30, 2021Mar 31, 2021
InterestAverageInterestAverageInterestAverageInterestAverageInterestAverage
AverageIncome/Yield/AverageIncome/Yield/AverageIncome/Yield/AverageIncome/Yield/AverageIncome/Yield/
BalanceExpenseRateBalanceExpenseRateBalanceExpenseRateBalanceExpenseRateBalanceExpenseRate
Assets
Interest-earning assets:
Interest-earning cash and equivalents$8,976 $5 0.23 %$9,024 $4 0.18 %$9,559 $3 0.12 %$13,584 $4 0.12 %$14,610 $4 0.11 %
Securities available for sale5,513 9 0.66 %5,517 7 0.50 %5,638 8 0.56 %5,988 7 0.47 %6,772 6 0.36 %
Loan receivables, including held for sale:
Credit cards78,564 3,913 20.20 %77,642 3,946 20.16 %74,686 3,793 20.15 %72,989 3,484 19.15 %74,865 3,657 19.81 %
Consumer installment loans2,682 66 9.98 %2,641 65 9.76 %2,555 64 9.94 %2,417 59 9.79 %2,219 53 9.69 %
Commercial credit products1,434 28 7.92 %1,434 30 8.30 %1,407 29 8.18 %1,363 23 6.77 %1,231 21 6.92 %
Other67 1 NM67 1 NM66 1 NM52 1 NM43 1 NM
Total loan receivables, including held for sale82,747 4,008 19.64 %81,784 4,042 19.61 %78,714 3,887 19.59 %76,821 3,567 18.62 %78,358 3,732 19.32 %
Total interest-earning assets97,236 4,022 16.78 %96,325 4,053 16.69 %93,911 3,898 16.47 %96,393 3,578 14.89 %99,740 3,742 15.22 %
Non-interest-earning assets:
Cash and due from banks1,626 1,606 1,588 1,559 1,635 
Allowance for credit losses(8,675)(8,648)(8,956)(9,801)(10,225)
Other assets5,369 5,424 5,405 5,238 5,305 
Total non-interest-earning assets(1,680)(1,618)(1,963)(3,004)(3,285)
Total assets$95,556 $94,707 $91,948 $93,389 $96,455 
Liabilities
Interest-bearing liabilities:
Interest-bearing deposit accounts$62,314 $127 0.83 %$61,090 $119 0.77 %$59,275 $131 0.88 %$60,761 $146 0.96 %$62,724 $170 1.10 %
Borrowings of consolidated securitization entities6,827 33 1.96 %7,105 33 1.84 %7,051 41 2.31 %7,149 44 2.47 %7,694 51 2.69 %
Senior unsecured notes7,219 73 4.10 %6,999 71 4.02 %6,471 68 4.17 %7,276 76 4.19 %7,965 82 4.18 %
Total interest-bearing liabilities76,360 233 1.24 %75,194 223 1.18 %72,797 240 1.31 %75,186 266 1.42 %78,383 303 1.57 %
Non-interest-bearing liabilities
Non-interest-bearing deposit accounts374 343 358 349 346 
Other liabilities5,091 5,137 4,676 4,199 4,655 
Total non-interest-bearing liabilities5,465 5,480 5,034 4,548 5,001 
Total liabilities81,825 80,674 77,831 79,734 83,384 
Equity
Total equity13,731 14,033 14,117 13,655 13,071 
Total liabilities and equity$95,556 $94,707 $91,948 $93,389 $96,455 
Net interest income$3,789 $3,830 $3,658 $3,312 $3,439 
Interest rate spread(1)
15.54 %15.51 %15.16 %13.47 %13.65 %
Net interest margin(2)
15.80 %15.77 %15.45 %13.78 %13.98 %
(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
BALANCE SHEET STATISTICS
(unaudited, $ in millions, except per share statistics)
Quarter Ended
Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2021		Mar 31,
2021		Mar 31, 2022 vs.
Mar 31, 2021
BALANCE SHEET STATISTICS
Total common equity$12,684 $12,921 $13,202 $13,463 $12,705 $(21)(0.2)%
Total common equity as a % of total assets13.31 %13.49 %14.36 %14.63 %13.25 %0.06 %
Tangible assets$93,013 $93,475 $89,742 $89,814 $93,581 $(568)(0.6)%
Tangible common equity(1)
$10,430 $10,648 $11,007 $11,260 $10,432 $(2)— %
Tangible common equity as a % of tangible assets(1)
11.21 %11.39 %12.27 %12.54 %11.15 %0.06 %
Tangible common equity per share(1)
$20.60 $20.21 $20.12 $19.64 $17.95 $2.65 14.8 %
REGULATORY CAPITAL RATIOS(2)(3)
Basel III - CECL Transition
Total risk-based capital ratio(4)
17.2 %17.8 %19.3 %20.1 %19.7 %
Tier 1 risk-based capital ratio(5)
15.9 %16.5 %18.0 %18.7 %18.3 %
Tier 1 leverage ratio(6)
13.9 %14.7 %15.5 %15.6 %14.5 %
Common equity Tier 1 capital ratio15.0 %15.6 %17.1 %17.8 %17.4 %
(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 March 31, 2022 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.

6

SYNCHRONY FINANCIAL
PLATFORM RESULTS
(unaudited, unrounded, $ in millions)
Quarter Ended
Mar 31,
2022		Dec 31,
 2021		Sep 30,
2021		Jun 30,
 2021		Mar 31,
2021		1Q'22 vs. 1Q'21
HOME & AUTO(6)
Purchase volume(1)
$10,260 $10,919 $11,069 $11,523 $9,337 $923 9.9 %
Period-end loan receivables$26,532 $26,781 $26,210 $25,588 $24,942 $1,590 6.4 %
Average loan receivables, including held for sale$26,406 $26,455 $25,800 $25,111 $25,273 $1,133 4.5 %
Average active accounts (in thousands)(3)
17,473 17,655 17,516 17,307 17,149 324 1.9 %
Interest and fees on loans$1,088 $1,126 $1,092 $993 $1,036 $52 5.0 %
Other income$21 $18 $18 $16 $17 $4 23.5 %
DIGITAL
Purchase volume(1)
$11,196 $13,451 $10,980 $10,930 $9,340 $1,856 19.9 %
Period-end loan receivables$21,075 $21,751 $19,636 $19,233 $18,907 $2,168 11.5 %
Average loan receivables, including held for sale$21,160 $20,388 $19,286 $18,783 $19,437 $1,723 8.9 %
Average active accounts (in thousands)(3)
19,000 18,375 17,655 17,258 17,318 1,682 9.7 %
Interest and fees on loans$1,022 $1,025 $973 $891 $903 $119 13.2 %
Other income$(12)$(28)$(19)$(28)$(12)$— — %
DIVERSIFIED & VALUE
Purchase volume(1)
$11,558 $14,154 $12,006 $11,618 $9,220 $2,338 25.4 %
Period-end loan receivables$15,166 $16,075 $14,415 $14,357 $14,217 $949 6.7 %
Average loan receivables, including held for sale$15,128 $14,999 $14,328 $14,101 $14,574 $554 3.8 %
Average active accounts (in thousands)(3)
19,201 18,829 17,903 17,301 17,457 1,744 10.0 %
Interest and fees on loans$826 $817 $780 $729 $789 $37 4.7 %
Other income$(9)$(23)$(8)$(2)$5 $(14)(280.0)%
HEALTH & WELLNESS
Purchase volume(1)
$3,107 $3,055 $3,024 $2,988 $2,648 $459 17.3 %
Period-end loan receivables$10,407 $10,244 $9,879 $9,515 $9,317 $1,090 11.7 %
Average loan receivables, including held for sale$10,251 $10,057 $9,654 $9,334 $9,442 $809 8.6 %
Average active accounts (in thousands)(3)
6,027 5,922 5,707 5,585 5,706 321 5.6 %
Interest and fees on loans$616 $603 $587 $523 $558 $58 10.4 %
Other income$53 $42 $41 $36 $40 $13 32.5 %
LIFESTYLE
Purchase volume(1)
$1,195 $1,462 $1,298 $1,405 $1,154 $41 3.6 %
Period-end loan receivables$5,381 $5,479 $5,234 $5,158 $4,988 $393 7.9 %
Average loan receivables, including held for sale$5,379 $5,297 $5,185 $5,050 $5,003 $376 7.5 %
Average active accounts (in thousands)(3)
2,582 2,548 2,465 2,442 2,573 9 0.3 %
Interest and fees on loans$191 $194 $187 $182 $181 $10 5.5 %
Other income$6 $6 $6 $6 $5 $1 20.0 %
CORP, OTHER(4)(6)
Purchase volume(1)(2)
$3,174 $4,031 $3,535 $3,657 $3,050 $124 4.1 %
Period-end loan receivables(5)
$355 $410 $1,014 $4,523 $4,487 $(4,132)(92.1)%
Average loan receivables, including held for sale$4,423 $4,588 $4,461 $4,442 $4,629 $(206)(4.5)%
Average active accounts (in thousands)(2)(3)
5,844 6,068 5,943 5,917 6,077 (233)(3.8)%
Interest and fees on loans$265 $277 $268 $249 $265 $— — %
Other income$49 $152 $56 $61 $76 $(27)(35.5)%
TOTAL SYF
Purchase volume(1)(2)
$40,490 $47,072 $41,912 $42,121 $34,749 $5,741 16.5 %
Period-end loan receivables(5)
$78,916 $80,740 $76,388 $78,374 $76,858 $2,058 2.7 %
Average loan receivables, including held for sale$82,747 $81,784 $78,714 $76,821 $78,358 $4,389 5.6 %
Average active accounts (in thousands)(2)(3)
70,127 69,397 67,189 65,810 66,280 3,847 5.8 %
Interest and fees on loans$4,008 $4,042 $3,887 $3,567 $3,732 $276 7.4 %
Other income$108 $167 $94 $89 $131 $(23)(17.6)%
(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.
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SYNCHRONY FINANCIAL
RECONCILIATION OF NON-GAAP MEASURES AND CALCULATIONS OF REGULATORY MEASURES(1)
(unaudited, $ in millions, except per share statistics)
Quarter Ended
Mar 31,
2022		Dec 31,
2021		Sep 30,
2021		Jun 30,
2021		Mar 31,
2021
COMMON EQUITY AND REGULATORY CAPITAL MEASURES(2)
GAAP Total equity$13,418 $13,655 $13,936 $14,197 $13,439 
Less: Preferred stock(734)(734)(734)(734)(734)
Less: Goodwill(1,105)(1,105)(1,105)(1,105)(1,104)
Less: Intangible assets, net(1,149)(1,168)(1,090)(1,098)(1,169)
Tangible common equity$10,430 $10,648 $11,007 $11,260 $10,432 
Add: CECL transition amount1,719 2,292 2,274 2,376 2,595 
Adjustments for certain deferred tax liabilities and certain items in accumulated comprehensive income (loss)371 329 299 301 354 
Common equity Tier 1 $12,520 $13,269 $13,580 $13,937 $13,381 
Preferred stock734 734 734 734 734 
Tier 1 capital$13,254 $14,003 $14,314 $14,671 $14,115 
Add: Allowance for credit losses includible in risk-based capital1,106 1,119 1,052 1,039 1,031 
Total Risk-based capital$14,360 $15,122 $15,366 $15,710 $15,146 
ASSET MEASURES(2)
Total average assets$95,556 $94,707 $91,948 $93,389 $96,455 
Adjustments for:
Add: CECL transition amount1,719 2,292 2,274 2,376 2,595 
Disallowed goodwill and other disallowed intangible assets
(net of related deferred tax liabilities) and other		(1,964)(1,999)(1,960)(1,965)(1,987)
Total assets for leverage purposes$95,311 $95,000 $92,262 $93,800 $97,063 
Risk-weighted assets$83,251 $84,950 $79,597 $78,281 $76,965 
CECL FULLY PHASED-IN CAPITAL MEASURES
Tier 1 capital$13,254 $14,003 $14,314 $14,671 $14,115 
Less: CECL transition adjustment(1,719)(2,292)(2,274)(2,376)(2,595)
Tier 1 capital (CECL fully phased-in)$11,535 $11,711 $12,040 $12,295 $11,520 
Add: Allowance for credit losses8,651 8,688 8,616 9,023 9,901 
Tier 1 capital (CECL fully phased-in) + Reserves for credit losses$20,186 $20,399 $20,656 $21,318 $21,421 
Risk-weighted assets$83,251 $84,950 $79,597 $78,281 $76,965 
Less: CECL transition adjustment(870)(1,353)(2,065)(2,166)(2,386)
Risk-weighted assets (CECL fully phased-in)$82,381 $83,597 $77,532 $76,115 $74,579 
TANGIBLE COMMON EQUITY PER SHARE
GAAP book value per share$25.06 $24.53 $24.13 $23.48 $21.86 
Less: Goodwill(2.18)(2.10)(2.02)(1.93)(1.90)
Less: Intangible assets, net(2.28)(2.22)(1.99)(1.91)(2.01)
Tangible common equity per share$20.60 $20.21 $20.12 $19.64 $17.95 
(1) Regulatory measures at March 31, 2022 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.

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