Exhibit 99.2

SYNCHRONY FINANCIAL
FINANCIAL SUMMARY
(unaudited, in millions, except per share statistics)
Quarter EndedNine Months Ended
Sep 30,
2023
Jun 30,
2023
Mar 31,
2023
Dec 31,
2022
Sep 30,
2022
3Q'23 vs. 3Q'22Sep 30,
2023
Sep 30,
2022
YTD'23 vs. YTD'22
EARNINGS
Net interest income$4,362 $4,120 $4,051 $4,106 $3,928 $434 11.0 %$12,533  $11,519 $1,014 8.8 %
Retailer share arrangements(979)(887)(917)(1,043)(1,057)78 (7.4)%(2,783)(3,288)505 (15.4)%
Provision for credit losses1,488 1,383 1,290 1,201 929 559 60.2 %4,161 2,174 1,987 91.4 %
Net interest income, after retailer share arrangements and provision for credit losses1,895 1,850 1,844 1,862 1,942 (47)(2.4)%5,589 6,057 (468)(7.7)%
Other income92 61 65 30 44 48 109.1 %218 350 (132)(37.7)%
Other expense1,154 1,169 1,119 1,151 1,064 90 8.5 %3,442 3,186 256 8.0 %
Earnings before provision for income taxes833 742 790 741 922 (89)(9.7)%2,365 3,221 (856)(26.6)%
Provision for income taxes205 173 189 164 219 (14)(6.4)%567 782 (215)(27.5)%
Net earnings$628 $569 $601 $577 $703 $(75)(10.7)%$1,798 $2,439 $(641)(26.3)%
Net earnings available to common stockholders$618 $559 $590 $567 $692 $(74)(10.7)%$1,767 $2,407 $(640)(26.6)%
COMMON SHARE STATISTICS
Basic EPS $1.49 $1.32 $1.36 $1.27 $1.48 $0.01 0.7 %$4.16 $4.89 $(0.73)(14.9)%
Diluted EPS $1.48 $1.32 $1.35 $1.26 $1.47 $0.01 0.7 %$4.14 $4.86 $(0.72)(14.8)%
Dividend declared per share$0.25 $0.23 $0.23 $0.23 $0.23 $0.02 8.7 %$0.71 $0.67 $0.04 6.0 %
Common stock price$30.57 $33.92 $29.08 $32.86 $28.19 $2.38 8.4 %$30.57 $28.19 $2.38 8.4 %
Book value per share $31.50 $30.25 $29.08 $27.70 $26.76 $4.74 17.7 %$31.50 $26.76 $4.74 17.7 %
Tangible common equity per share(1)
$26.00 $24.67 $23.48 $22.24 $22.10 $3.90 17.6 %$26.00 $22.10 $3.90 17.6 %
Beginning common shares outstanding418.1 428.4 438.2 458.9 487.8 (69.7)(14.3)%438.2 526.8 (88.6)(16.8)%
Issuance of common shares— — — — — — NM— — — — %
Stock-based compensation0.2 0.2 1.5 0.1 0.4 (0.2)(50.0)%1.9 2.0 (0.1)(5.0)%
Shares repurchased(4.5)(10.5)(11.3)(20.8)(29.3)24.8 (84.6)%(26.3)(69.9)43.6 (62.4)%
Ending common shares outstanding413.8 418.1 428.4 438.2 458.9 (45.1)(9.8)%413.8 458.9 (45.1)(9.8)%
Weighted average common shares outstanding 416.0 422.7 434.4 445.8 468.5 (52.5)(11.2)%424.3 492.1 (67.8)(13.8)%
Weighted average common shares outstanding (fully diluted) 418.4 424.2 437.2 448.9 470.7 (52.3)(11.1)%426.5 495.0 (68.5)(13.8)%
(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 EndedNine Months Ended
Sep 30,
2023
Jun 30,
2023
Mar 31,
2023
Dec 31,
2022
Sep 30,
2022
3Q'23 vs. 3Q'22Sep 30,
2023
Sep 30,
2022
YTD'23 vs. YTD'22
PERFORMANCE METRICS
Return on assets(1)
2.3 %2.1 %2.3 %2.2 %2.8 %(0.5)%2.2 %3.4 %(1.2)%
Return on equity(2)
18.1 %17.0 %18.2 %17.5 %21.1 %(3.0)%17.8 %24.2 %(6.4)%
Return on tangible common equity(3)
22.9 %21.7 %23.2 %22.1 %26.6 %(3.7)%22.6 %30.6 %(8.0)%
Net interest margin(4)
15.36 %14.94 %15.22 %15.58 %15.52 %(0.16)%15.17 %15.64 %(0.47)%
Efficiency ratio(5)
33.2 %35.5 %35.0 %37.2 %36.5 %(3.3)%34.5 %37.1 %(2.6)%
Other expense as a % of average loan receivables, including held for sale4.76 %5.07 %5.00 %5.16 %5.02 %(0.26)%4.94 %5.11 %(0.17)%
Effective income tax rate24.6 %23.3 %23.9 %22.1 %23.8 %0.8 %24.0 %24.3 %(0.3)%
CREDIT QUALITY METRICS
Net charge-offs as a % of average loan receivables, including held for sale4.60 %4.75 %4.49 %3.48 %3.00 %1.60 %4.62 %2.82 %1.80 %
30+ days past due as a % of period-end loan receivables(6)
4.40 %3.84 %3.81 %3.65 %3.28 %1.12 %4.40 %3.28 %1.12 %
90+ days past due as a % of period-end loan receivables(6)
2.06 %1.77 %1.87 %1.69 %1.43 %0.63 %2.06 %1.43 %0.63 %
Net charge-offs$1,116 $1,096 $1,006 $776 $635 $481 75.7 %$3,218 $1,760 $1,458 82.8 %
Loan receivables delinquent over 30 days(6)
$4,304 $3,641 $3,474 $3,377 $2,818 $1,486 52.7 %$4,304 $2,818 $1,486 52.7 %
Loan receivables delinquent over 90 days(6)
$2,020 $1,677 $1,705 $1,562 $1,232 $788 64.0 %$2,020 $1,232 $788 64.0 %
Allowance for credit losses (period-end)$10,176 $9,804 $9,517 $9,527 $9,102 $1,074 11.8 %$10,176 $9,102 $1,074 11.8 %
Allowance coverage ratio(7)
10.40 %10.34 %10.44 %10.30 %10.58 %(0.18)%10.40 %10.58 %(0.18)%
BUSINESS METRICS
Purchase volume(8)(9)
$47,006 $47,276 $41,557 $47,923 $44,557 $2,449 5.5 %$135,839 $132,264 $3,575 2.7 %
Period-end loan receivables$97,873 $94,801 $91,129 $92,470 $86,012 $11,861 13.8 %$97,873 $86,012 $11,861 13.8 %
Credit cards$92,078 $89,299 $86,113 $87,630 $81,254 $10,824 13.3 %$92,078 $81,254 $10,824 13.3 %
Consumer installment loans$3,784 $3,548 $3,204 $3,056 $2,945 $839 28.5 %$3,784 $2,945 $839 28.5 %
Commercial credit products$1,879 $1,826 $1,690 $1,682 $1,723 $156 9.1 %$1,879 $1,723 $156 9.1 %
Other$132 $128 $122 $102 $90 $42 46.7 %$132 $90 $42 46.7 %
Average loan receivables, including held for sale$96,230 $92,489 $90,815 $88,436 $84,038 $12,192 14.5 %$93,198 $83,404 $9,794 11.7 %
Period-end active accounts (in thousands)(10)
70,137 70,269 68,589 70,763 66,503 3,634 5.5 %70,137 66,503 3,634 5.5 %
Average active accounts (in thousands)(9)(10)
70,308 69,517 69,494 68,373 66,266 4,042 6.1 %69,842 68,517 1,325 1.9 %
LIQUIDITY
Liquid assets
Cash and equivalents$15,643 $12,706 $15,303 $10,294 $11,962 $3,681 30.8 %$15,643 $11,962 $3,681 30.8 %
Total liquid assets$17,598 $16,448 $18,778 $14,201 $16,566 $1,032 6.2 %$17,591 $16,566 $1,025 6.2 %
Undrawn credit facilities
Undrawn credit facilities$2,950 $2,950 $2,950 $2,950 $3,700 $(750)(20.3)%$2,950 $3,700 $(750)(20.3)%
Total liquid assets and undrawn credit facilities$20,548 $19,398 $21,728 $17,151 $20,266 $282 1.4 %$20,541 $20,266 $275 1.4 %
Liquid assets % of total assets15.58 %15.13 %17.41 %13.58 %16.44 %(0.86)%15.58 %16.44 %(0.86)%
Liquid assets including undrawn credit facilities % of total assets18.19 %17.85 %20.15 %16.40 %20.11 %(1.92)%18.19 %20.11 %(1.92)%
(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 EndedNine Months Ended
Sep 30,
 2023
Jun 30,
2023
Mar 31,
2023
Dec 31,
2022
Sep 30,
2022
3Q'23 vs. 3Q'22Sep 30,
2023
Sep 30,
2022
YTD'23 vs. YTD'22
Interest income: 
Interest and fees on loans$5,151 $4,812 $4,616 $4,576 $4,258 $893 21.0 %$14,579 $12,305 $2,274 18.5 %
Interest on cash and debt securities203 209 170 132 84 119 141.7 %582 133 449 NM
Total interest income5,354 5,021 4,786 4,708 4,342 1,012 23.3 %15,161 12,438 2,723 21.9 %
Interest expense:
Interest on deposits800 717 557 441 280 520 185.7 %2,074 567 1,507 265.8 %
Interest on borrowings of consolidated securitization entities86 78 77 69 54 32 59.3 %241 127 114 89.8 %
Interest on senior unsecured notes106 106 101 92 80 26 32.5 %313 225 88 39.1 %
Total interest expense992 901 735 602 414 578 139.6 %2,628 919 1,709 186.0 %
Net interest income4,362 4,120 4,051 4,106 3,928 434 11.0 %12,533 11,519 1,014 8.8 %
Retailer share arrangements(979)(887)(917)(1,043)(1,057)78 (7.4)%(2,783)(3,288)505 (15.4)%
Provision for credit losses1,488 1,383 1,290 1,201 929 559 60.2 %4,161 2,174 1,987 91.4 %
Net interest income, after retailer share arrangements and provision for credit losses1,895 1,850 1,844 1,862 1,942 (47)(2.4)%5,589 6,057 (468)(7.7)%
Other income:
Interchange revenue267 262 232 251 238 29 12.2 %761 731 30 4.1 %
Debt cancellation fees131 125 115 102 103 28 27.2 %371 285 86 30.2 %
Loyalty programs(358)(345)(298)(351)(326)(32)9.8 %(1,001)(906)(95)10.5 %
Other52 19 16 28 29 23 79.3 %87 240 (153)(63.8)%
Total other income92 61 65 30 44 48 109.1 %218 350 (132)(37.7)%
Other expense:
Employee costs444 451 451 459 416 28 6.7 %1,346 1,222 124 10.1 %
Professional fees219 209 186 233 204 15 7.4 %614 599 15 2.5 %
Marketing and business development125 133 131 121 115 10 8.7 %389 366 23 6.3 %
Information processing177 179 166 165 150 27 18.0 %522 458 64 14.0 %
Other189 197 185 173 179 10 5.6 %571 541 30 5.5 %
Total other expense1,154 1,169 1,119 1,151 1,064 90 8.5 %3,442 3,186 256 8.0 %
Earnings before provision for income taxes833 742 790 741 922 (89)(9.7)%2,365 3,221 (856)(26.6)%
Provision for income taxes205 173 189 164 219 (14)(6.4)%567 782 (215)(27.5)%
Net earnings$628 $569 $601 $577 $703 $(75)(10.7)%$1,798 $2,439 $(641)(26.3)%
Net earnings available to common stockholders$618 $559 $590 $567 $692 $(74)(10.7)%$1,767 $2,407 $(640)(26.6)%

3


SYNCHRONY FINANCIAL
STATEMENTS OF FINANCIAL POSITION
(unaudited, $ in millions)
Quarter Ended
Sep 30,
 2023
Jun 30,
2023
Mar 31,
2023
Dec 31,
2022
Sep 30,
2022
Sep 30, 2023 vs.
Sep 30, 2022
Assets
Cash and equivalents$15,643 $12,706 $15,303 $10,294 $11,962 $3,681 30.8 %
Debt securities2,882 4,294 4,008 4,879 5,082 (2,200)(43.3)%
Loan receivables:
Unsecuritized loans held for investment78,470 75,532 72,079 72,638 67,651 10,819 16.0 %
Restricted loans of consolidated securitization entities19,403 19,269 19,050 19,832 18,361 1,042 5.7 %
Total loan receivables97,873 94,801 91,129 92,470 86,012 11,861 13.8 %
Less: Allowance for credit losses(10,176)(9,804)(9,517)(9,527)(9,102)(1,074)11.8 %
Loan receivables, net87,697 84,997 81,612 82,943 76,910 10,787 14.0 %
Goodwill1,105 1,105 1,105 1,105 1,105 — — %
Intangible assets, net1,169 1,226 1,297 1,287 1,033 136 13.2 %
Other assets4,443 4,369 4,528 4,056 4,674 (231)(4.9)%
Total assets$112,939 $108,697 $107,853 $104,564 $100,766 $12,173 12.1 %
Liabilities and Equity
Deposits:
Interest-bearing deposit accounts$77,669 $75,344 $74,008 $71,336 $68,032 $9,637 14.2 %
Non-interest-bearing deposit accounts397 421 417 399 372 25 6.7 %
Total deposits78,066 75,765 74,425 71,735 68,404 9,662 14.1 %
Borrowings:
Borrowings of consolidated securitization entities6,519 5,522 6,228 6,227 6,360 159 2.5 %
Senior and Subordinated unsecured notes8,712 8,709 8,706 7,964 7,961 751 9.4 %
Total borrowings15,231 14,231 14,934 14,191 14,321 910 6.4 %
Accrued expenses and other liabilities5,875 5,321 5,301 5,765 5,029 846 16.8 %
Total liabilities99,172 95,317 94,660 91,691 87,754 11,418 13.0 %
Equity:
Preferred stock734 734 734 734 734 — — %
Common stock— — %
Additional paid-in capital9,750 9,727 9,705 9,718 9,685 65 0.7 %
Retained earnings18,338 17,828 17,369 16,716 16,252 2,086 12.8 %
Accumulated other comprehensive income (loss)(96)(96)(102)(125)(187)91 (48.7)%
Treasury stock(14,960)(14,814)(14,514)(14,171)(13,473)(1,487)11.0 %
Total equity13,767 13,380 13,193 12,873 13,012 755 5.8 %
Total liabilities and equity$112,939 $108,697 $107,853 $104,564 $100,766 $12,173 12.1 %

4


SYNCHRONY FINANCIAL
AVERAGE BALANCES, NET INTEREST INCOME AND NET INTEREST MARGIN
(unaudited, $ in millions)
Quarter Ended
Sep 30, 2023Jun 30, 2023Mar 31, 2023Dec 31, 2022Sep 30, 2022
InterestAverageInterestAverageInterestAverageInterestAverageInterestAverage
AverageIncome/Yield/AverageIncome/Yield/AverageIncome/Yield/AverageIncome/Yield/AverageIncome/Yield/
BalanceExpenseRateBalanceExpenseRateBalanceExpenseRateBalanceExpenseRateBalanceExpenseRate
Assets
Interest-earning assets:
Interest-earning cash and equivalents$12,753 $172 5.35 %$14,198 $178 5.03 %$12,365 $140 4.59 %$11,092 $104 3.72 %$11,506 $65 2.24 %
Securities available for sale3,706 31 3.32 %3,948 31 3.15 %4,772 30 2.55 %5,002 28 2.22 %4,861 19 1.55 %
Loan receivables, including held for sale:
Credit cards90,587 5,003 21.91 %87,199 4,679 21.52 %85,904 4,497 21.23 %83,597 4,462 21.18 %79,354 4,153 20.76 %
Consumer installment loans3,656 108 11.72 %3,359 94 11.22 %3,103 83 10.85 %2,991 78 10.35 %2,884 74 10.18 %
Commercial credit products1,861 38 8.10 %1,808 36 7.99 %1,697 34 8.13 %1,757 34 7.68 %1,720 30 6.92 %
Other126 6.30 %123 9.78 %111 7.31 %91 8.72 %80 4.96 %
Total loan receivables, including held for sale96,230 5,151 21.24 %92,489 4,812 20.87 %90,815 4,616 20.61 %88,436 4,576 20.53 %84,038 4,258 20.10 %
Total interest-earning assets112,689 5,354 18.85 %110,635 5,021 18.20 %107,952 4,786 17.98 %104,530 4,708 17.87 %100,405 4,342 17.16 %
Non-interest-earning assets:
Cash and due from banks964 976 1,024 1,071 1,580 
Allowance for credit losses(9,847)(9,540)(9,262)(9,167)(8,878)
Other assets6,529 6,330 6,128 5,772 5,587 
Total non-interest-earning assets(2,354)(2,234)(2,110)(2,324)(1,711)
Total assets$110,335 $108,401 $105,842 $102,206 $98,694 
Liabilities
Interest-bearing liabilities:
Interest-bearing deposit accounts$75,952 $800 4.18 %$74,812 $717 3.84 %$72,216 $557 3.13 %$69,343 $441 2.52 %$66,787 $280 1.66 %
Borrowings of consolidated securitization entities6,096 86 5.60 %5,863 78 5.34 %6,229 77 5.01 %6,231 69 4.39 %6,258 54 3.42 %
Senior and Subordinated unsecured notes8,710 106 4.83 %8,707 106 4.88 %8,442 101 4.85 %7,962 92 4.58 %7,102 80 4.47 %
Total interest-bearing liabilities90,758 992 4.34 %89,382 901 4.04 %86,887 735 3.43 %83,536 602 2.86 %80,147 414 2.05 %
Non-interest-bearing liabilities
Non-interest-bearing deposit accounts401 420 411 388 371 
Other liabilities5,418 5,164 5,130 5,217 4,938 
Total non-interest-bearing liabilities5,819 5,584 5,541 5,605 5,309 
Total liabilities96,577 94,966 92,428 89,141 85,456 
Equity
Total equity13,758 13,435 13,414 13,065 13,238 
Total liabilities and equity$110,335 $108,401 $105,842 $102,206 $98,694 
Net interest income$4,362 $4,120 $4,051 $4,106 $3,928 
Interest rate spread(1)
14.51 %14.16 %14.55 %15.01 %15.11 %
Net interest margin(2)
15.36 %14.94 %15.22 %15.58 %15.52 %
(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)
Nine Months Ended
Sep 30, 2023
Nine Months Ended
Sep 30, 2022
InterestAverageInterestAverage
AverageIncome/Yield/AverageIncome/Yield/
BalanceExpenseRateBalanceExpenseRate
Assets
Interest-earning assets:
Interest-earning cash and equivalents$13,107 $490 5.00 %$9,920 $90 1.21 %
Securities available for sale4,138 92 2.97 %5,143 43 1.12 %
Loan receivables, including held for sale:
Credit cards87,914 14,179 21.56 %78,946 12,009 20.34 %
Consumer installment loans3,375 285 11.29 %2,781 209 10.05 %
Commercial credit products1,789 108 8.07 %1,604 83 6.92 %
Other120 7.80 %73 7.33 %
Total loan receivables, including held for sale93,198 14,579 20.91 %83,404 12,305 19.73 %
Total interest-earning assets110,443 15,161 18.35 %98,467 12,438 16.89 %
Non-interest-earning assets:
Cash and due from banks987 1,607 
Allowance for credit losses(9,552)(8,735)
Other assets6,331 5,447 
Total non-interest-earning assets(2,234)(1,681)
Total assets$108,209 $96,786 
Liabilities
Interest-bearing liabilities:
Interest-bearing deposit accounts$74,340 $2,074 3.73 %$64,371 $567 1.18 %
Borrowings of consolidated securitization entities6,062 241 5.32 %6,547 127 2.59 %
Senior and subordinated unsecured notes8,621 313 4.85 %7,098 225 4.24 %
Total interest-bearing liabilities89,023 2,628 3.95 %78,016 919 1.57 %
Non-interest-bearing liabilities
Non-interest-bearing deposit accounts410 380 
Other liabilities5,239 4,915 
Total non-interest-bearing liabilities5,649 5,295 
Total liabilities94,672 83,311 
Equity
Total equity13,537 13,475 
Total liabilities and equity$108,209 $96,786 
Net interest income$12,533 $11,519 
Interest rate spread(1)
14.41 %15.32 %
Net interest margin(2)
15.17 %15.64 %
(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.
6


SYNCHRONY FINANCIAL
BALANCE SHEET STATISTICS
(unaudited, $ in millions, except per share statistics)
Quarter Ended
Sep 30,
 2023
Jun 30,
2023
Mar 31,
2023
Dec 31,
2022
Sep 30,
2022
Sep 30, 2023 vs.
Sep 30, 2022
BALANCE SHEET STATISTICS
Total common equity$13,033 $12,646 $12,459 $12,139 $12,278 $755 6.1 %
Total common equity as a % of total assets11.54 %11.63 %11.55 %11.61 %12.18 %(0.64)%
Tangible assets$110,665 $106,366 $105,451 $102,172 $98,628 $12,037 12.2 %
Tangible common equity(1)
$10,759 $10,315 $10,057 $9,747 $10,140 $619 6.1 %
Tangible common equity as a % of tangible assets(1)
9.72 %9.70 %9.54 %9.54 %10.28 %(0.56)%
Tangible common equity per share(1)
$26.00 $24.67 $23.48 $22.24 $22.10 $3.90 17.6 %
REGULATORY CAPITAL RATIOS(2)(3)
Basel III - CECL Transition
Total risk-based capital ratio(4)
15.3 %15.2 %15.4 %15.0 %16.5 %
Tier 1 risk-based capital ratio(5)
13.2 %13.1 %13.3 %13.6 %15.2 %
Tier 1 leverage ratio(6)
11.8 %11.6 %11.6 %12.3 %13.2 %
Common equity Tier 1 capital ratio12.4 %12.3 %12.5 %12.8 %14.3 %
(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 September 30, 2023 are preliminary and therefore subject to change.
(3) Capital ratios reflect the phase-in of an estimate of CECL’s effect on regulatory capital over a three-year transitional period beginning in the first quarter of 2022 through 2024. Capital ratios for 2023 and 2022 reflect 50% and 25%, respectively, of the phase-in of CECL effects.
(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.

7


SYNCHRONY FINANCIAL
PLATFORM RESULTS
(unaudited, $ in millions)
Quarter EndedNine Months Ended
Sep 30,
 2023
Jun 30,
2023
Mar 31,
2023
Dec 31,
2022
Sep 30,
2022
3Q'23 vs. 3Q'22Sep 30,
2023
Sep 30,
2022
YTD'23 vs. YTD'22
HOME & AUTO
Purchase volume(1)
$12,273 $12,853 $10,863 $11,860 $12,273 $— — %$35,989 $35,428 $561 1.6 %
Period-end loan receivables$31,648 $30,926 $29,733 $29,978 $29,017 $2,631 9.1 %$31,648 $29,017 $2,631 9.1 %
Average loan receivables, including held for sale$31,239 $30,210 $29,690 $29,402 $28,387 $2,852 10.0 %$30,386 $27,307 $3,079 11.3 %
Average active accounts (in thousands)(3)
19,223 18,935 18,521 18,539 18,350 873 4.8 %18,894 17,923 971 5.4 %
Interest and fees on loans$1,367 $1,275 $1,225 $1,264 $1,210 $157 13.0 %$3,867 $3,406 $461 13.5 %
Other income$28 $27 $25 $23 $20 $40.0 %$80 $64 $16 25.0 %
DIGITAL
Purchase volume(1)
$13,808 $13,472 $12,261 $14,794 $12,941 $867 6.7 %$39,541 $36,600 $2,941 8.0 %
Period-end loan receivables$26,685 $25,758 $24,944 $25,522 $22,925 $3,760 16.4 %$26,685 $22,925 $3,760 16.4 %
Average loan receivables, including held for sale$26,266 $25,189 $24,982 $23,931 $22,361 $3,905 17.5 %$25,484 $21,596 $3,888 18.0 %
Average active accounts (in thousands)(3)
20,768 20,559 20,564 20,073 19,418 1,350 7.0 %20,641 19,176 1,465 7.6 %
Interest and fees on loans$1,530 $1,422 $1,363 $1,322 $1,197 $333 27.8 %$4,315 $3,277 $1,038 31.7 %
Other income$(6)$(2)$$(14)$(22)$16 (72.7)%$(7)$(47)$40 (85.1)%
DIVERSIFIED & VALUE
Purchase volume(1)
$15,445 $15,356 $13,439 $16,266 $14,454 $991 6.9 %$44,240 $40,400 $3,840 9.5 %
Period-end loan receivables$18,865 $18,329 $17,702 $18,617 $16,566 $2,299 13.9 %$18,865 $16,566 $2,299 13.9 %
Average loan receivables, including held for sale$18,565 $17,935 $17,713 $17,274 $16,243 $2,322 14.3 %$18,074 $15,627 $2,447 15.7 %
Average active accounts (in thousands)(3)
20,410 20,346 20,807 20,386 19,411 999 5.1 %20,571 19,258 1,313 6.8 %
Interest and fees on loans$1,168 $1,091 $1,070 $1,023 $935 $233 24.9 %$3,329 $2,587 $742 28.7 %
Other income$(28)$(21)$(14)$(42)$(19)$(9)47.4 %$(63)$(63)$— — %
HEALTH & WELLNESS
Purchase volume(1)
$3,990 $4,015 $3,690 $3,505 $3,514 $476 13.5 %$11,695 $10,064 $1,631 16.2 %
Period-end loan receivables$14,019 $13,327 $12,581 $12,179 $11,590 $2,429 21.0 %$14,019 $11,590 $2,429 21.0 %
Average loan receivables, including held for sale$13,600 $12,859 $12,309 $11,846 $11,187 $2,413 21.6 %$12,927 $10,681 $2,246 21.0 %
Average active accounts (in thousands)(3)
7,276 7,063 6,887 6,673 6,411 865 13.5 %7,076 6,207 869 14.0 %
Interest and fees on loans$844 $786 $735 $744 $706 $138 19.5 %$2,365 $1,966 $399 20.3 %
Other income$74 $54 $61 $60 $55 $19 34.5 %$189 $157 $32 20.4 %
LIFESTYLE
Purchase volume(1)
$1,490 $1,580 $1,302 $1,498 $1,374 $116 8.4 %$4,372 $4,000 $372 9.3 %
Period-end loan receivables$6,483 $6,280 $5,971 $5,970 $5,686 $797 14.0 %$6,483 $5,686 $797 14.0 %
Average loan receivables, including held for sale$6,383 $6,106 $5,919 $5,772 $5,610 $773 13.8 %$6,137 $5,478 $659 12.0 %
Average active accounts (in thousands)(3)
2,556 2,529 2,611 2,585 2,524 32 1.3 %2,572 2,546 26 1.0 %
Interest and fees on loans$249 $232 $223 $221 $208 $41 19.7 %$704 $593 $111 18.7 %
Other income$$$$$$— — %$22 $21 $4.8 %
CORP, OTHER(4)
Purchase volume(1)(2)
$— $— $$— $$(1)(100.0)%$$5,772 $(5,770)(100.0)%
Period-end loan receivables$173 $181 $198 $204 $228 $(55)(24.1)%$173 $228 $(55)(24.1)%
Average loan receivables, including held for sale$177 $190 $202 $211 $250 $(73)(29.2)%$190 $2,715 $(2,525)(93.0)%
Average active accounts (in thousands)(2)(3)
75 85 104 117 152 (77)(50.7)%88 3,407 (3,319)(97.4)%
Interest and fees on loans$(7)$$— $$$(9)NM$(1)$476 $(477)(100.2)%
Other income$16 $(4)$(15)$(4)$$14 NM$(3)$218 $(221)(101.4)%
TOTAL SYF
Purchase volume(1)(2)
$47,006 $47,276 $41,557 $47,923 $44,557 $2,449 5.5 %$135,839 $132,264 $3,575 2.7 %
Period-end loan receivables$97,873 $94,801 $91,129 $92,470 $86,012 $11,861 13.8 %$97,873 $86,012 $11,861 13.8 %
Average loan receivables, including held for sale$96,230 $92,489 $90,815 $88,436 $84,038 $12,192 14.5 %$93,198 $83,404 $9,794 11.7 %
Average active accounts (in thousands)(2)(3)
70,308 69,517 69,494 68,373 66,266 4,042 6.1 %69,842 68,517 1,325 1.9 %
Interest and fees on loans$5,151 $4,812 $4,616 $4,576 $4,258 $893 21.0 %$14,579 $12,305 $2,274 18.5 %
Other income$92 $61 $65 $30 $44 $48 109.1 %$218 $350 $(132)(37.7)%
(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) YTD 2022 includes activity and balances associated with Gap Inc. and BP portfolios which were both sold in 2Q 2022.
8


SYNCHRONY FINANCIAL
RECONCILIATION OF NON-GAAP MEASURES AND CALCULATIONS OF REGULATORY MEASURES(1)
(unaudited, $ in millions, except per share statistics)
Quarter Ended
Sep 30,
2023
Jun 30,
2023
Mar 31,
2023
Dec 31,
2022
Sep 30,
2022
COMMON EQUITY AND REGULATORY CAPITAL MEASURES(2)
GAAP Total equity$13,767 $13,380 $13,193 $12,873 $13,012 
Less: Preferred stock(734)(734)(734)(734)(734)
Less: Goodwill(1,105)(1,105)(1,105)(1,105)(1,105)
Less: Intangible assets, net(1,169)(1,226)(1,297)(1,287)(1,033)
Tangible common equity$10,759 $10,315 $10,057 $9,747 $10,140 
Add: CECL transition amount1,146 1,146 1,146 1,719 1,719 
Adjustments for certain deferred tax liabilities and certain items in accumulated comprehensive income (loss)267 267 270 293 419 
Common equity Tier 1 $12,172 $11,728 $11,473 $11,759 $12,278 
Preferred stock734 734 734 734 734 
Tier 1 capital$12,906 $12,462 $12,207 $12,493 $13,012 
Add: Subordinated debt741 741 740 — — 
Add: Allowance for credit losses includible in risk-based capital1,317 1,276 1,233 1,220 1,142 
Total Risk-based capital$14,964 $14,479 $14,180 $13,713 $14,154 
ASSET MEASURES(2)
Total average assets$110,335 $108,401 $105,842 $102,206 $98,694 
Adjustments for:
Add: CECL transition amount1,146 1,146 1,146 1,719 1,719 
Less: Disallowed goodwill and other disallowed intangible assets
(net of related deferred tax liabilities) and other
(1,984)(2,035)(2,081)(2,046)(1,776)
Total assets for leverage purposes$109,497 $107,512 $104,907 $101,879 $98,637 
Risk-weighted assets$97,987 $95,060 $91,873 $91,596 $85,664 
CECL FULLY PHASED-IN CAPITAL MEASURES
Tier 1 capital$12,906 $12,462 $12,207 $12,493 $13,012 
Less: CECL transition adjustment(1,146)(1,146)(1,146)(1,719)(1,719)
Tier 1 capital (CECL fully phased-in)$11,760 $11,316 $11,061 $10,774 $11,293 
Add: Allowance for credit losses10,176 9,804 9,517 9,527 9,102 
Tier 1 capital (CECL fully phased-in) + Reserves for credit losses$21,936 $21,120 $20,578 $20,301 $20,395 
Risk-weighted assets$97,987 $95,060 $91,873 $91,596 $85,664 
Less: CECL transition adjustment(580)(580)(580)(870)(870)
Risk-weighted assets (CECL fully phased-in)$97,407 $94,480 $91,293 $90,726 $84,794 
TANGIBLE COMMON EQUITY PER SHARE
GAAP book value per share$31.50 $30.25 $29.08 $27.70 $26.76 
Less: Goodwill(2.67)(2.65)(2.58)(2.52)(2.41)
Less: Intangible assets, net(2.83)(2.93)(3.02)(2.94)(2.25)
Tangible common equity per share$26.00 $24.67 $23.48 $22.24 $22.10 
(1) Regulatory measures at September 30, 2023 are presented on an estimated basis.
(2) Capital ratios reflect the phase-in of an estimate of CECL’s effect on regulatory capital over a three-year transitional period beginning in the first quarter of 2022 through 2024. Capital ratios for 2023 and 2022 reflect 50% and 25%, respectively, of the phase-in of CECL effects.
9