Exhibit 99.2
SYNCHRONY FINANCIAL
FINANCIAL SUMMARY
(unaudited, in millions, except per share statistics)
Quarter EndedSix Months Ended
Jun 30,
2024
Mar 31,
2024
Dec 31,
2023
Sep 30,
2023
Jun 30,
2023
2Q'24 vs. 2Q'23Jun 30,
2024
Jun 30,
2023
YTD'24 vs. YTD'23
EARNINGS
Net interest income$4,405 $4,405 $4,466 $4,362 $4,120 $285 6.9 %$8,810  $8,171 $639 7.8 %
Retailer share arrangements(810)(764)(878)(979)(887)77 (8.7)%(1,574)(1,804)230 (12.7)%
Other income117 1,157 71 92 61 56 91.8 %1,274 126 1,148 NM
Net revenue3,712 4,798 3,659 3,475 3,294 418 12.7 %8,510 6,493 2,017 31.1 %
Provision for credit losses1,691 1,884 1,804 1,488 1,383 308 22.3 %3,575 2,673 902 33.7 %
Other expense1,177 1,206 1,316 1,154 1,169 0.7 %2,383 2,288 95 4.2 %
Earnings before provision for income taxes844 1,708 539 833 742 102 13.7 %2,552 1,532 1,020 66.6 %
Provision for income taxes201 415 99 205 173 28 16.2 %616 362 254 70.2 %
Net earnings$643 $1,293 $440 $628 $569 $74 13.0 %$1,936 $1,170 $766 65.5 %
Net earnings available to common stockholders$624 $1,282 $429 $618 $559 $65 11.6 %$1,906 $1,149 $757 65.9 %
COMMON SHARE STATISTICS
Basic EPS $1.56 $3.17 $1.04 $1.49 $1.32 $0.24 18.2 %$4.74 $2.74 $2.00 73.0 %
Diluted EPS $1.55 $3.14 $1.03 $1.48 $1.32 $0.23 17.4 %$4.70 $2.73 $1.97 72.2 %
Dividend declared per share$0.25 $0.25 $0.25 $0.25 $0.23 $0.02 8.7 %$0.50 $0.46 $0.04 8.7 %
Common stock price$47.19 $43.12 $38.19 $30.57 $33.92 $13.27 39.1 %$47.19 $33.92 $13.27 39.1 %
Book value per share $36.24 $35.03 $32.36 $31.50 $30.25 $5.99 19.8 %$36.24 $30.25 $5.99 19.8 %
Tangible common equity per share(1)
$31.05 $30.36 $27.59 $27.18 $25.89 $5.16 19.9 %$31.05 $25.89 $5.16 19.9 %
Beginning common shares outstanding401.4 406.9 413.8 418.1 428.4 (27.0)(6.3)%406.9 438.2 (31.3)(7.1)%
Issuance of common shares— — — — — — NM— — — NM
Stock-based compensation0.6 2.0 0.4 0.2 0.2 0.4 200.0 %2.6 1.7 0.9 52.9 %
Shares repurchased(6.9)(7.5)(7.3)(4.5)(10.5)3.6 (34.3)%(14.4)(21.8)7.4 (33.9)%
Ending common shares outstanding395.1 401.4 406.9 413.8 418.1 (23.0)(5.5)%395.1 418.1 (23.0)(5.5)%
Weighted average common shares outstanding 399.3 404.7 411.9 416.0 422.7 (23.4)(5.5)%402.0 418.9 (16.9)(4.0)%
Weighted average common shares outstanding (fully diluted) 402.6 408.2 414.6 418.4 424.2 (21.6)(5.1)%405.4 421.1 (15.7)(3.7)%
(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 EndedSix Months Ended
Jun 30,
2024
Mar 31,
2024
Dec 31,
2023
Sep 30,
2023
Jun 30,
2023
2Q'24 vs. 2Q'23Jun 30,
2024
Jun 30,
2023
YTD'24 vs. YTD'23
PERFORMANCE METRICS
Return on assets(1)
2.2 %4.4 %1.5 %2.3 %2.1 %0.1 %3.3 %2.2 %1.1 %
Return on equity(2)
16.7 %35.6 %12.4 %18.1 %17.0 %(0.3)%25.8 %17.6 %8.2 %
Return on tangible common equity(3)
20.2 %43.6 %14.7 %21.9 %20.6 %(0.4)%31.6 %22.5 %9.1 %
Net interest margin(4)
14.46 %14.55 %15.10 %15.36 %14.94 %(0.48)%14.50 %15.08 %(0.58)%
Net revenue as a % of average loan receivables, including held for sale14.71 %19.11 %14.56 %14.33 %14.29 %0.42 %16.91 %14.29 %2.6 %
Efficiency ratio(5)
31.7 %25.1 %36.0 %33.2 %35.5 %(3.8)%28.0 %35.2 %(7.2)%
Other expense as a % of average loan receivables, including held for sale4.66 %4.80 %5.24 %4.76 %5.07 %(0.41)%4.73 %5.03 %(0.30)%
Effective income tax rate23.8 %24.3 %18.4 %24.6 %23.3 %0.5 %24.1 %23.6 %0.5 %
CREDIT QUALITY METRICS
Net charge-offs as a % of average loan receivables, including held for sale6.42 %6.31 %5.58 %4.60 %4.75 %1.67 %6.37 %4.62 %1.75 %
30+ days past due as a % of period-end loan receivables(6)
4.47 %4.74 %4.74 %4.40 %3.84 %0.63 %4.47 %3.84 %0.63 %
90+ days past due as a % of period-end loan receivables(6)
2.19 %2.42 %2.28 %2.06 %1.77 %0.42 %2.19 %1.77 %0.42 %
Net charge-offs$1,621 $1,585 $1,402 $1,116 $1,096 $525 47.9 %$3,206 $2,102 $1,104 52.5 %
Loan receivables delinquent over 30 days(6)
$4,574 $4,820 $4,885 $4,304 $3,641 $933 25.6 %$4,574 $3,641 $933 25.6 %
Loan receivables delinquent over 90 days(6)
$2,244 $2,459 $2,353 $2,020 $1,677 $567 33.8 %$2,244 $1,677 $567 33.8 %
Allowance for credit losses (period-end)$10,982 $10,905 $10,571 $10,176 $9,804 $1,178 12.0 %$10,982 $9,804 $1,178 12.0 %
Allowance coverage ratio(7)
10.74 %10.72 %10.26 %10.40 %10.34 %0.40 %10.74 %10.34 %0.40 %
BUSINESS METRICS
Purchase volume(8)
$46,846 $42,387 $49,339 $47,006 $47,276 $(430)(0.9)%$89,233 $88,833 $400 0.5 %
Period-end loan receivables$102,284 $101,733 $102,988 $97,873 $94,801 $7,483 7.9 %$102,284 $94,801 $7,483 7.9 %
Credit cards$94,091 $93,736 $97,043 $92,078 $89,299 $4,792 5.4 %$94,091 $89,299 $4,792 5.4 %
Consumer installment loans$6,072 $5,957 $3,977 $3,784 $3,548 $2,524 71.1 %$6,072 $3,548 $2,524 71.1 %
Commercial credit products$2,003 $1,912 $1,839 $1,879 $1,826 $177 9.7 %$2,003 $1,826 $177 9.7 %
Other$118 $128 $129 $132 $128 $(10)(7.8)%$118 $128 $(10)(7.8)%
Average loan receivables, including held for sale$101,478 $100,957 $99,683 $96,230 $92,489 $8,989 9.7 %$101,218 $91,656 $9,562 10.4 %
Period-end active accounts (in thousands)(9)
70,991 70,754 73,484 70,137 70,269 722 1.0 %70,991 70,269 722 1.0 %
Average active accounts (in thousands)(9)
70,974 71,667 71,526 70,308 69,517 1,457 2.1 %71,402 69,637 1,765 2.5 %
LIQUIDITY
Liquid assets
Cash and equivalents$18,632 $20,021 $14,259 $15,643 $12,706 $5,926 46.6 %$18,632 $12,706 $5,926 46.6 %
Total liquid assets$20,051 $21,929 $16,808 $17,598 $16,448 $3,603 21.9 %$20,051 $16,448 $3,603 21.9 %
Undrawn credit facilities
Undrawn credit facilities$2,950 $2,950 $2,950 $2,950 $2,950 $— — %$2,950 $2,950 $— — %
Total liquid assets and undrawn credit facilities(10)
$23,001 $24,879 $19,758 $20,548 $19,398 $3,603 18.6 %$23,001 $19,398 $3,603 18.6 %
Liquid assets % of total assets16.64 %18.10 %14.31 %15.58 %15.13 %1.51 %16.64 %15.13 %1.51 %
Liquid assets including undrawn credit facilities % of total assets19.09 %20.53 %16.82 %18.19 %17.85 %1.24 %19.09 %17.85 %1.24 %
(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) Active accounts represent credit card or installment loan accounts on which there has been a purchase, payment or outstanding balance in the current month.
(10) Excludes available borrowing capacity related to unencumbered assets.
2


SYNCHRONY FINANCIAL
STATEMENTS OF EARNINGS
(unaudited, $ in millions)
Quarter EndedSix Months Ended
Jun 30,
 2024
Mar 31,
 2024
Dec 31,
 2023
Sep 30,
 2023
Jun 30,
2023
2Q'24 vs. 2Q'23Jun 30,
2024
Jun 30,
2023
YTD'24 vs. YTD'23
Interest income: 
Interest and fees on loans$5,301 $5,293 $5,323 $5,151 $4,812 $489 10.2 %$10,594 $9,428 $1,166 12.4 %
Interest on cash and debt securities281 275 226 203 209 72 34.4 %556 379 177 46.7 %
Total interest income5,582 5,568 5,549 5,354 5,021 561 11.2 %11,150 9,807 1,343 13.7 %
Interest expense:
Interest on deposits967 954 878 800 717 250 34.9 %1,921 1,274 647 50.8 %
Interest on borrowings of consolidated securitization entities110 105 99 86 78 32 41.0 %215 155 60 38.7 %
Interest on senior unsecured notes100 104 106 106 106 (6)(5.7)%204 207 (3)(1.4)%
Total interest expense1,177 1,163 1,083 992 901 276 30.6 %2,340 1,636 704 43.0 %
Net interest income4,405 4,405 4,466 4,362 4,120 285 6.9 %8,810 8,171 639 7.8 %
Retailer share arrangements(810)(764)(878)(979)(887)77 (8.7)%(1,574)(1,804)230 (12.7)%
Provision for credit losses1,691 1,884 1,804 1,488 1,383 308 22.3 %3,575 2,673 902 33.7 %
Net interest income, after retailer share arrangements and provision for credit losses1,904 1,757 1,784 1,895 1,850 54 2.9 %3,661 3,694 (33)(0.9)%
Other income:
Interchange revenue263 241 270 267 262 0.4 %504 494 10 2.0 %
Protection product revenue125 141 139 131 125 — — %266 240 26 10.8 %
Loyalty programs(346)(319)(369)(358)(345)(1)0.3 %(665)(643)(22)3.4 %
Other75 1,094 31 52 19 56 294.7 %1,169 35 1,134 NM
Total other income117 1,157 71 92 61 56 91.8 %1,274 126 1,148 NM
Other expense:
Employee costs434 496 538 444 451 (17)(3.8)%930 902 28 3.1 %
Professional fees236 220 228 219 209 27 12.9 %456 395 61 15.4 %
Marketing and business development129 125 138 125 133 (4)(3.0)%254 264 (10)(3.8)%
Information processing207 186 190 177 179 28 15.6 %393 345 48 13.9 %
Other171 179 222 189 197 (26)(13.2)%350 382 (32)(8.4)%
Total other expense1,177 1,206 1,316 1,154 1,169 0.7 %2,383 2,288 95 4.2 %
Earnings before provision for income taxes844 1,708 539 833 742 102 13.7 %2,552 1,532 1,020 66.6 %
Provision for income taxes201 415 99 205 173 28 16.2 %616 362 254 70.2 %
Net earnings$643 $1,293 $440 $628 $569 $74 13.0 %$1,936 $1,170 $766 65.5 %
Net earnings available to common stockholders$624 $1,282 $429 $618 $559 $65 11.6 %$1,906 $1,149 $757 65.9 %

3


SYNCHRONY FINANCIAL
STATEMENTS OF FINANCIAL POSITION
(unaudited, $ in millions)
Quarter Ended
Jun 30,
 2024
Mar 31,
 2024
Dec 31,
 2023
Sep 30,
 2023
Jun 30,
2023
Jun 30, 2024 vs.
Jun 30, 2023
Assets
Cash and equivalents$18,632 $20,021 $14,259 $15,643 $12,706 $5,926 46.6 %
Debt securities2,693 3,005 3,799 2,882 4,294 (1,601)(37.3)%
Loan receivables:
Unsecuritized loans held for investment82,144 81,642 81,554 78,470 75,532 6,612 8.8 %
Restricted loans of consolidated securitization entities20,140 20,091 21,434 19,403 19,269 871 4.5 %
Total loan receivables102,284 101,733 102,988 97,873 94,801 7,483 7.9 %
Less: Allowance for credit losses(10,982)(10,905)(10,571)(10,176)(9,804)(1,178)12.0 %
Loan receivables, net91,302 90,828 92,417 87,697 84,997 6,305 7.4 %
Goodwill1,274 1,073 1,018 1,105 1,105 169 15.3 %
Intangible assets, net776 800 815 680 717 59 8.2 %
Other assets5,812 5,446 4,915 4,932 4,878 934 19.1 %
Assets held for sale— — 256 — — — NM
Total assets$120,489 $121,173 $117,479 $112,939 $108,697 $11,792 10.8 %
Liabilities and Equity
Deposits:
Interest-bearing deposit accounts$82,708 $83,160 $80,789 $77,669 $75,344 $7,364 9.8 %
Non-interest-bearing deposit accounts392 394 364 397 421 (29)(6.9)%
Total deposits83,100 83,554 81,153 78,066 75,765 7,335 9.7 %
Borrowings:
Borrowings of consolidated securitization entities7,517 8,016 7,267 6,519 5,522 1,995 36.1 %
Senior and Subordinated unsecured notes8,120 8,117 8,715 8,712 8,709 (589)(6.8)%
Total borrowings15,637 16,133 15,982 15,231 14,231 1,406 9.9 %
Accrued expenses and other liabilities6,212 6,204 6,334 5,875 5,321 891 16.7 %
Liabilities held for sale— — 107 — — — NM
Total liabilities104,949 105,891 103,576 99,172 95,317 9,632 10.1 %
Equity:
Preferred stock1,222 1,222 734 734 734 488 66.5 %
Common stock— — %
Additional paid-in capital9,793 9,768 9,775 9,750 9,727 66 0.7 %
Retained earnings20,310 19,790 18,662 18,338 17,828 2,482 13.9 %
Accumulated other comprehensive income (loss)(73)(69)(68)(96)(96)23 (24.0)%
Treasury stock(15,713)(15,430)(15,201)(14,960)(14,814)(899)6.1 %
Total equity15,540 15,282 13,903 13,767 13,380 2,160 16.1 %
Total liabilities and equity$120,489 $121,173 $117,479 $112,939 $108,697 $11,792 10.8 %

4


SYNCHRONY FINANCIAL
AVERAGE BALANCES, NET INTEREST INCOME AND NET INTEREST MARGIN
(unaudited, $ in millions)
Quarter Ended
Jun 30, 2024Mar 31, 2024Dec 31, 2023Sep 30, 2023Jun 30, 2023
InterestAverageInterestAverageInterestAverageInterestAverageInterestAverage
AverageIncome/Yield/AverageIncome/Yield/AverageIncome/Yield/AverageIncome/Yield/AverageIncome/Yield/
BalanceExpenseRateBalanceExpenseRateBalanceExpenseRateBalanceExpenseRateBalanceExpenseRate
Assets
Interest-earning assets:
Interest-earning cash and equivalents$18,337 $249 5.46 %$17,405 $236 5.45 %$13,762 $188 5.42 %$12,753 $172 5.35 %$14,198 $178 5.03 %
Securities available for sale2,731 32 4.71 %3,432 39 4.57 %3,895 38 3.87 %3,706 31 3.32 %3,948 31 3.15 %
Loan receivables, including held for sale:
Credit cards93,267 5,013 21.62 %94,216 5,096 21.75 %93,744 5,162 21.85 %90,587 5,003 21.91 %87,199 4,679 21.52 %
Consumer installment loans6,085 243 16.06 %4,734 149 12.66 %3,875 116 11.88 %3,656 108 11.72 %3,359 94 11.22 %
Commercial credit products2,001 43 8.64 %1,878 45 9.64 %1,934 42 8.62 %1,861 38 8.10 %1,808 36 7.99 %
Other125 6.44 %129 9.35 %130 9.16 %126 6.30 %123 9.78 %
Total loan receivables, including held for sale101,478 5,301 21.01 %100,957 5,293 21.09 %99,683 5,323 21.19 %96,230 5,151 21.24 %92,489 4,812 20.87 %
Total interest-earning assets122,546 5,582 18.32 %121,794 5,568 18.39 %117,340 5,549 18.76 %112,689 5,354 18.85 %110,635 5,021 18.20 %
Non-interest-earning assets:
Cash and due from banks887 944 886 964 976 
Allowance for credit losses(10,878)(10,677)(10,243)(9,847)(9,540)
Other assets7,309 6,973 6,616 6,529 6,330 
Total non-interest-earning assets(2,682)(2,760)(2,741)(2,354)(2,234)
Total assets$119,864 $119,034 $114,599 $110,335 $108,401 
Liabilities
Interest-bearing liabilities:
Interest-bearing deposit accounts$82,749 $967 4.70 %$82,598 $954 4.65 %$78,892 $878 4.42 %$75,952 $800 4.18 %$74,812 $717 3.84 %
Borrowings of consolidated securitization entities7,858 110 5.63 %7,383 105 5.72 %6,903 99 5.69 %6,096 86 5.60 %5,863 78 5.34 %
Senior and Subordinated unsecured notes8,118 100 4.95 %8,630 104 4.85 %8,712 106 4.83 %8,710 106 4.83 %8,707 106 4.88 %
Total interest-bearing liabilities98,725 1,177 4.80 %98,611 1,163 4.74 %94,507 1,083 4.55 %90,758 992 4.34 %89,382 901 4.04 %
Non-interest-bearing liabilities
Non-interest-bearing deposit accounts396 390 379 401 420 
Other liabilities5,221 5,419 5,652 5,418 5,164 
Total non-interest-bearing liabilities5,617 5,809 6,031 5,819 5,584 
Total liabilities104,342 104,420 100,538 96,577 94,966 
Equity
Total equity15,522 14,614 14,061 13,758 13,435 
Total liabilities and equity$119,864 $119,034 $114,599 $110,335 $108,401 
Net interest income$4,405 $4,405 $4,466 $4,362 $4,120 
Interest rate spread(1)
13.53 %13.64 %14.22 %14.51 %14.16 %
Net interest margin(2)
14.46 %14.55 %15.10 %15.36 %14.94 %
(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)
Six Months Ended
Jun 30, 2024
Six Months Ended
Jun 30, 2023
InterestAverageInterestAverage
AverageIncome/Yield/AverageIncome/Yield/
BalanceExpenseRateBalanceExpenseRate
Assets
Interest-earning assets:
Interest-earning cash and equivalents$17,871 $485 5.46 %$13,287 $318 4.83 %
Securities available for sale3,082 71 4.63 %4,358 61 2.82 %
Loan receivables, including held for sale:
Credit cards93,743 10,109 21.69 %86,555 9,176 21.38 %
Consumer installment loans5,409 392 14.57 %3,232 177 11.04 %
Commercial credit products1,939 88 9.13 %1,753 70 8.05 %
Other127 7.92 %116 8.69 %
Total loan receivables, including held for sale101,218 10,594 21.05 %91,656 9,428 20.74 %
Total interest-earning assets122,171 11,150 18.35 %109,301 9,807 18.09 %
Non-interest-earning assets:
Cash and due from banks915 1,000 
Allowance for credit losses(10,777)(9,402)
Other assets7,141 6,229 
Total non-interest-earning assets(2,721)(2,173)
Total assets$119,450 $107,128 
Liabilities
Interest-bearing liabilities:
Interest-bearing deposit accounts$82,674 $1,921 4.67 %$73,521 $1,274 3.49 %
Borrowings of consolidated securitization entities7,620 215 5.67 %6,045 155 5.17 %
Senior and subordinated unsecured notes8,374 204 4.90 %8,575 207 4.87 %
Total interest-bearing liabilities98,668 2,340 4.77 %88,141 1,636 3.74 %
Non-interest-bearing liabilities
Non-interest-bearing deposit accounts393 415 
Other liabilities5,322 5,147 
Total non-interest-bearing liabilities5,715 5,562 
Total liabilities104,383 93,703 
Equity
Total equity15,067 13,425 
Total liabilities and equity$119,450 $107,128 
Net interest income$8,810 $8,171 
Interest rate spread(1)
13.58 %14.35 %
Net interest margin(2)
14.50 %15.08 %
(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
Jun 30,
 2024
Mar 31,
 2024
Dec 31,
 2023
Sep 30,
 2023
Jun 30,
2023
Jun 30, 2024 vs.
Jun 30, 2023
BALANCE SHEET STATISTICS
Total common equity$14,318 $14,060 $13,169 $13,033 $12,646 $1,672 13.2 %
Total common equity as a % of total assets11.88 %11.60 %11.21 %11.54 %11.63 %0.25 %
Tangible assets$118,439 $119,300 $115,535 $111,154 $106,875 $11,564 10.8 %
Tangible common equity(1)
$12,268 $12,187 $11,225 $11,248 $10,824 $1,444 13.3 %
Tangible common equity as a % of tangible assets(1)
10.36 %10.22 %9.72 %10.12 %10.13 %0.23 %
Tangible common equity per share(1)
$31.05 $30.36 $27.59 $27.18 $25.89 $5.16 19.9 %
REGULATORY CAPITAL RATIOS(2)(3)
Basel III - CECL Transition
Total risk-based capital ratio(4)
15.8 %15.8 %14.9 %15.7 %15.7 %
Tier 1 risk-based capital ratio(5)
13.8 %13.8 %12.9 %13.6 %13.6 %
Tier 1 leverage ratio(6)
12.0 %12.0 %11.7 %12.2 %12.0 %
Common equity Tier 1 capital ratio12.6 %12.6 %12.2 %12.8 %12.8 %
(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 June 30, 2024 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 2024 and 2023 reflect 75% and 50%, 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 EndedSix Months Ended
Jun 30,
 2024
Mar 31,
 2024
Dec 31,
 2023
Sep 30,
 2023
Jun 30,
2023
2Q'24 vs. 2Q'23Jun 30,
2024
Jun 30,
2023
YTD'24 vs. YTD'23
HOME & AUTO
Purchase volume(1)
$12,496 $10,512 $11,421 $12,273 $12,853 $(357)(2.8)%$23,008 $23,716 $(708)(3.0)%
Period-end loan receivables$32,822 $32,615 $31,969 $31,648 $30,926 $1,896 6.1 %$32,822 $30,926 $1,896 6.1 %
Average loan receivables, including held for sale$32,592 $31,865 $31,720 $31,239 $30,210 $2,382 7.9 %$32,228 $29,951 $2,277 7.6 %
Average active accounts (in thousands)(2)
19,335 18,969 19,177 19,223 18,935 400 2.1 %19,176 18,769 407 2.2 %
Interest and fees on loans$1,419 $1,382 $1,403 $1,367 $1,275 $144 11.3 %$2,801 $2,500 $301 12.0 %
Other income$38 $33 $26 $28 $27 $11 40.7 %$71 $52 $19 36.5 %
DIGITAL
Purchase volume(1)
$13,403 $12,628 $15,510 $13,808 $13,472 $(69)(0.5)%$26,031 $25,733 $298 1.2 %
Period-end loan receivables$27,704 $27,734 $28,925 $26,685 $25,758 $1,946 7.6 %$27,704 $25,758 $1,946 7.6 %
Average loan receivables, including held for sale$27,542 $28,081 $27,553 $26,266 $25,189 $2,353 9.3 %$27,812 $25,086 $2,726 10.9 %
Average active accounts (in thousands)(2)
20,920 21,349 21,177 20,768 20,559 361 1.8 %21,142 20,570 572 2.8 %
Interest and fees on loans$1,544 $1,567 $1,579 $1,530 $1,422 $122 8.6 %$3,111 $2,785 $326 11.7 %
Other income$— $$(7)$(6)$(2)$(100.0)%$$(1)$NM
DIVERSIFIED & VALUE
Purchase volume(1)
$15,333 $14,023 $16,987 $15,445 $15,356 $(23)(0.1)%$29,356 $28,795 $561 1.9 %
Period-end loan receivables$19,516 $19,559 $20,666 $18,865 $18,329 $1,187 6.5 %$19,516 $18,329 $1,187 6.5 %
Average loan receivables, including held for sale$19,360 $19,593 $19,422 $18,565 $17,935 $1,425 7.9 %$19,477 $17,825 $1,652 9.3 %
Average active accounts (in thousands)(2)
20,253 21,032 21,038 20,410 20,346 (93)(0.5)%20,691 20,652 39 0.2 %
Interest and fees on loans$1,165 $1,214 $1,204 $1,168 $1,091 $74 6.8 %$2,379 $2,161 $218 10.1 %
Other income$(22)$(17)$(30)$(28)$(21)$(1)4.8 %$(39)$(35)$(4)11.4 %
HEALTH & WELLNESS
Purchase volume(1)
$4,089 $3,980 $3,870 $3,990 $4,015 $74 1.8 %$8,069 $7,705 $364 4.7 %
Period-end loan receivables$15,280 $15,065 $14,521 $14,019 $13,327 $1,953 14.7 %$15,280 $13,327 $1,953 14.7 %
Average loan receivables, including held for sale$15,111 $14,697 $14,251 $13,600 $12,859 $2,252 17.5 %$14,904 $12,585 $2,319 18.4 %
Average active accounts (in thousands)(2)
7,752 7,611 7,447 7,276 7,063 689 9.8 %7,670 6,976 694 9.9 %
Interest and fees on loans$911 $869 $866 $844 $786 $125 15.9 %$1,780 $1,521 $259 17.0 %
Other income$48 $66 $82 $74 $54 $(6)(11.1)%$114 $115 $(1)(0.9)%
LIFESTYLE
Purchase volume(1)
$1,525 $1,244 $1,550 $1,490 $1,580 $(55)(3.5)%$2,769 $2,882 $(113)(3.9)%
Period-end loan receivables$6,822 $6,604 $6,744 $6,483 $6,280 $542 8.6 %$6,822 $6,280 $542 8.6 %
Average loan receivables, including held for sale$6,723 $6,631 $6,568 $6,383 $6,106 $617 10.1 %$6,677 $6,013 $664 11.0 %
Average active accounts (in thousands)(2)
2,662 2,642 2,620 2,556 2,529 133 5.3 %2,665 2,575 90 3.5 %
Interest and fees on loans$258 $255 $255 $249 $232 $26 11.2 %$513 $455 $58 12.7 %
Other income$$$$$$(1)(14.3)%$14 $14 $— — %
CORP, OTHER
Purchase volume(1)
$— $— $$— $— $— NM$— $$(2)(100.0)%
Period-end loan receivables$140 $156 $163 $173 $181 $(41)(22.7)%$140 $181 $(41)(22.7)%
Average loan receivables, including held for sale$150 $90 $169 $177 $190 $(40)(21.1)%$120 $196 $(76)(38.8)%
Average active accounts (in thousands)(2)
52 64 67 75 85 (33)(38.8)%58 95 (37)(38.9)%
Interest and fees on loans$$$16 $(7)$$(2)(33.3)%$10 $$66.7 %
Other income$47 $1,061 $(7)$16 $(4)$51 NM$1,108 $(19)$1,127 NM
TOTAL SYF
Purchase volume(1)
$46,846 $42,387 $49,339 $47,006 $47,276 $(430)(0.9)%$89,233 $88,833 $400 0.5 %
Period-end loan receivables$102,284 $101,733 $102,988 $97,873 $94,801 $7,483 7.9 %$102,284 $94,801 $7,483 7.9 %
Average loan receivables, including held for sale$101,478 $100,957 $99,683 $96,230 $92,489 $8,989 9.7 %$101,218 $91,656 $9,562 10.4 %
Average active accounts (in thousands)(2)
70,974 71,667 71,526 70,308 69,517 1,457 2.1 %71,402 69,637 1,765 2.5 %
Interest and fees on loans$5,301 $5,293 $5,323 $5,151 $4,812 $489 10.2 %$10,594 $9,428 $1,166 12.4 %
Other income$117 $1,157 $71 $92 $61 $56 91.8 %$1,274 $126 $1,148 NM
(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) Active accounts represent credit card or installment loan accounts on which there has been a purchase, payment or outstanding balance in the current month.
8


SYNCHRONY FINANCIAL
RECONCILIATION OF NON-GAAP MEASURES AND CALCULATIONS OF REGULATORY MEASURES(1)
(unaudited, $ in millions, except per share statistics)
Quarter Ended
Jun 30,
2024
Mar 31,
2024
Dec 31,
2023
Sep 30,
2023
Jun 30,
2023
COMMON EQUITY AND REGULATORY CAPITAL MEASURES(2)
GAAP Total equity$15,540 $15,282 $13,903 $13,767 $13,380 
Less: Preferred stock(1,222)(1,222)(734)(734)(734)
Less: Goodwill(1,274)(1,073)(1,105)(1,105)(1,105)
Less: Intangible assets, net(776)(800)(839)(680)(717)
Tangible common equity$12,268 $12,187 $11,225 $11,248 $10,824 
Add: CECL transition amount573 573 1,146 1,146 1,146 
Adjustments for certain deferred tax liabilities and certain items in accumulated comprehensive income (loss)227 225 229 255 255 
Common equity Tier 1 $13,068 $12,985 $12,600 $12,649 $12,225 
Preferred stock1,222 1,222 734 734 734 
Tier 1 capital$14,290 $14,207 $13,334 $13,383 $12,959 
Add: Subordinated debt741 741 741 741 741 
Add: Allowance for credit losses includible in risk-based capital1,407 1,399 1,389 1,322 1,282 
Total Risk-based capital$16,438 $16,347 $15,464 $15,446 $14,982 
ASSET MEASURES(2)
Total average assets$119,864 $119,034 $114,599 $110,335 $108,401 
Adjustments for:
Add: CECL transition amount573 573 1,146 1,146 1,146 
Less: Disallowed goodwill and other disallowed intangible assets
(net of related deferred tax liabilities) and other
(1,805)(1,631)(1,671)(1,507)(1,537)
Total assets for leverage purposes$118,632 $117,976 $114,074 $109,974 $108,010 
Risk-weighted assets$103,718 $103,242 $103,460 $98,451 $95,546 
CECL FULLY PHASED-IN CAPITAL MEASURES
Tier 1 capital$14,290 $14,207 $13,334 $13,383 $12,959 
Less: CECL transition adjustment(573)(573)(1,146)(1,146)(1,146)
Tier 1 capital (CECL fully phased-in)$13,717 $13,634 $12,188 $12,237 $11,813 
Add: Allowance for credit losses10,982 10,905 10,571 10,176 9,804 
Tier 1 capital (CECL fully phased-in) + Reserves for credit losses$24,699 $24,539 $22,759 $22,413 $21,617 
Risk-weighted assets$103,718 $103,242 $103,460 $98,451 $95,546 
Less: CECL transition adjustment(290)(290)(580)(580)(580)
Risk-weighted assets (CECL fully phased-in)$103,428 $102,952 $102,880 $97,871 $94,966 
TANGIBLE COMMON EQUITY PER SHARE
GAAP book value per share$36.24 $35.03 $32.36 $31.50 $30.25 
Less: Goodwill(3.23)(2.68)(2.72)(2.67)(2.65)
Less: Intangible assets, net(1.96)(1.99)(2.05)(1.65)(1.71)
Tangible common equity per share$31.05 $30.36 $27.59 $27.18 $25.89 
(1) Regulatory measures at June 30, 2024 are preliminary and therefore subject to change.
(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 2024 and 2023 reflect 75% and 50%, respectively, of the phase-in of CECL effects.
9