2024 Q1 Form 10-K Financial Statement

#000110121524000041 Filed on February 20, 2024

View on sec.gov

Income Statement

Concept 2024 Q1 2023 Q4 2023
Revenue $991.0M $1.254B $4.938B
YoY Change -23.12% 2.12% 14.07%
Cost Of Revenue $86.00M $88.00M $428.0M
YoY Change -28.33% -20.72% 19.22%
Gross Profit $1.122B $1.166B $4.510B
YoY Change -3.03% 4.39% 13.6%
Gross Profit Margin 113.22% 92.98% 91.33%
Selling, General & Admin $241.0M $266.0M $1.028B
YoY Change -6.95% 1.14% 7.19%
% of Gross Profit 21.48% 22.81% 22.79%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $23.00M $24.00M $116.0M
YoY Change -32.35% -27.27% 2.65%
% of Gross Profit 2.05% 2.06% 2.57%
Operating Expenses $686.0M $910.0M $2.893B
YoY Change 29.19% -19.4% -8.65%
Operating Profit $436.0M $256.0M $1.617B
YoY Change -30.35% -2233.33% 101.37%
Interest Expense $248.0M -$237.0M -$649.0M
YoY Change 13.76% 21.54% 29.03%
% of Operating Profit 56.88% -92.58% -40.14%
Other Income/Expense, Net
YoY Change
Pretax Income $188.0M $19.00M $968.0M
YoY Change -70.53% -109.18% 222.67%
Income Tax $53.00M -$26.00M $231.0M
% Of Pretax Income 28.19% -136.84% 23.86%
Net Earnings $134.0M $43.00M $718.0M
YoY Change -70.55% -132.09% 221.97%
Net Earnings / Revenue 13.52% 3.43% 14.54%
Basic Earnings Per Share $2.71 $14.39
Diluted Earnings Per Share $2.70 $0.86 $14.36
COMMON SHARES
Basic Shares Outstanding 49.42M shares 49.33M shares 49.80M shares
Diluted Shares Outstanding 49.70M shares 50.00M shares

Balance Sheet

Concept 2024 Q1 2023 Q4 2023
SHORT-TERM ASSETS
Cash & Short-Term Investments $3.789B $3.590B $3.590B
YoY Change 4.93% -7.74% -7.74%
Cash & Equivalents $3.789B $3.590B $3.590B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $15.93B $17.01B $17.01B
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $19.72B $20.60B $20.60B
YoY Change 1.39% -9.64% -9.64%
LONG-TERM ASSETS
Property, Plant & Equipment $166.0M $167.0M $167.0M
YoY Change -7.78% -14.36% -14.36%
Goodwill $634.0M
YoY Change 0.0%
Intangibles $128.0M
YoY Change -22.42%
Long-Term Investments $258.0M $253.0M $253.0M
YoY Change 13.16% 14.48% 14.48%
Other Assets $19.00M $26.00M $940.0M
YoY Change -9.52% 0.86%
Total Long-Term Assets $2.580B $2.546B $2.546B
YoY Change 2.3% -2.64% -2.64%
TOTAL ASSETS
Total Short-Term Assets $19.72B $20.60B $20.60B
Total Long-Term Assets $2.580B $2.546B $2.546B
Total Assets $22.30B $23.14B $23.14B
YoY Change 1.5% -8.92% -8.92%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $422.0M
YoY Change 6.03%
Accrued Expenses $421.0M
YoY Change -2.55%
Deferred Revenue
YoY Change
Short-Term Debt $13.33B $13.62B $13.62B
YoY Change 1.44% -1.49% -1.49%
Long-Term Debt Due $260.0M
YoY Change
Total Short-Term Liabilities $13.33B $13.62B $13.62B
YoY Change 1.44% -1.49% -1.49%
LONG-TERM LIABILITIES
Long-Term Debt $4.652B $5.292B $5.292B
YoY Change -4.75% -33.91% -33.91%
Other Long-Term Liabilities $1.288B $1.311B $1.311B
YoY Change 4.55% 0.15% 0.15%
Total Long-Term Liabilities $5.940B $6.603B $6.603B
YoY Change -2.88% -29.12% -29.12%
TOTAL LIABILITIES
Total Short-Term Liabilities $13.33B $13.62B $13.62B
Total Long-Term Liabilities $5.940B $6.603B $6.603B
Total Liabilities $19.27B $20.22B $20.22B
YoY Change 0.07% -12.61% -12.61%
SHAREHOLDERS EQUITY
Retained Earnings $890.0M $767.0M
YoY Change 65.74% 724.73%
Common Stock $2.164B $1.000M
YoY Change -1.55% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $3.032B $2.918B $2.918B
YoY Change
Total Liabilities & Shareholders Equity $22.30B $23.14B $23.14B
YoY Change 1.5% -8.92% -8.92%

Cashflow Statement

Concept 2024 Q1 2023 Q4 2023
OPERATING ACTIVITIES
Net Income $134.0M $43.00M $718.0M
YoY Change -70.55% -132.09% 221.97%
Depreciation, Depletion And Amortization $23.00M $24.00M $116.0M
YoY Change -32.35% -27.27% 2.65%
Cash From Operating Activities $447.0M $617.0M $1.987B
YoY Change 12.31% 24.14% 7.52%
INVESTING ACTIVITIES
Capital Expenditures $17.00M $21.00M $48.00M
YoY Change 54.55% -240.0% -170.59%
Acquisitions $0.00
YoY Change
Other Investing Activities $17.00M -$1.770B $836.0M
YoY Change 54.55% -50.94% -116.58%
Cash From Investing Activities $720.0M -$1.791B $788.0M
YoY Change -77.08% -50.57% -115.42%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$35.00M
YoY Change 191.67%
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -$975.0M 1.395B -3.086B
YoY Change -74.57% -59.51% -194.46%
NET CHANGE
Cash From Operating Activities $447.0M 617.0M 1.987B
Cash From Investing Activities $720.0M -1.791B 788.0M
Cash From Financing Activities -$975.0M 1.395B -3.086B
Net Change In Cash $192.0M 221.0M -311.0M
YoY Change -165.08% -30.72% -7875.0%
FREE CASH FLOW
Cash From Operating Activities $447.0M $617.0M $1.987B
Capital Expenditures $17.00M $21.00M $48.00M
Free Cash Flow $430.0M $596.0M $1.939B
YoY Change 11.11% 16.41% 1.2%

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<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Amounts Based on Estimates and Judgments</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The preparation of financial statements in conformity with GAAP requires management to make estimates and judgments about future events that affect the reported amounts of assets and liabilities, and disclosure of contingent assets and liabilities at the date of the audited Consolidated Financial Statements, as well as the reported amounts of income and expenses during the reporting periods. The most significant of those estimates and judgments relate to our Allowance for credit losses, Provision for income taxes and Goodwill; actual results could differ.</span></div>
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CY2023 us-gaap Derivatives Methods Of Accounting Hedging Derivatives
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<span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%">Derivative financial instruments:</span><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%"> </span>From time to time, we use derivative financial instruments to manage our exposure to various financial risks; we do not trade or speculate in derivatives. Subject to the criteria set forth in GAAP, we will either designate our derivatives in hedging relationships, or as economic hedges should the criteria in GAAP not be met. Our derivative financial instruments were insignificant to the audited Consolidated Financial Statements for the periods presented.
CY2023 us-gaap Depreciation
Depreciation
19000000 usd
CY2022 us-gaap Depreciation
Depreciation
19000000 usd
CY2021 us-gaap Depreciation
Depreciation
26000000 usd
CY2023Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
78000000 usd
CY2022Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
112000000 usd
CY2023 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
60000000 usd
CY2022 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
68000000 usd
CY2021 us-gaap Capitalized Computer Software Amortization1
CapitalizedComputerSoftwareAmortization1
37000000 usd
CY2023 us-gaap Property Plant And Equipment Impairment
PropertyPlantAndEquipmentImpairment
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We review long-lived assets and asset groups for impairment whenever events or circumstances indicate their carrying amounts may not be recoverable. An impairment is recognized if the carrying amount is not recoverable and exceeds the asset or asset group’s fair value. No impairment was recognized during the years ended December 31, 2023, 2022 and 2021.</span></div>
CY2021 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 usd
CY2023 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 usd
CY2022 us-gaap Impairment Of Long Lived Assets Held For Use
ImpairmentOfLongLivedAssetsHeldForUse
0 usd
CY2022 bfh Charge Off Of Unpaid Interest And Fees
ChargeOffOfUnpaidInterestAndFees
651000000 usd
CY2023 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:700;line-height:120%">CONCENTRATIONS</span></div><div><span><br/></span></div><div><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">We depend on a limited number of large partner relationships for a significant portion of our revenue. As of and for the year ended December 31, 2023, our five largest credit card programs accounted for approximately 47% of our Total net interest and non-interest income excluding the gain on sale and 37% of our End-of-period credit card and other loans. In particular, our programs with (alphabetically) Signet Jewelers, Ulta Beauty and Victoria’s Secret &amp; Co. and its retail affiliates each accounted for more than 10% of our Total net interest and non-interest income for the year ended December 31, 2023. A decrease in business from, or the loss of, any of our significant partners for any reason, could have a material adverse effect on our business. We previously announced the non-renewal of our contract with BJ’s Wholesale Club (BJ’s) and the sale of the BJ’s portfolio, which closed in late February 2023. For the year ended December 31, 2022, BJ’s branded co-brand accounts generated approximately 10% of our Total net interest and non-interest income, and BJ’s branded co-brand accounts were responsible for approximately 11% of our Total credit card and other loans as of December 31, 2022.</span></div>
CY2023Q4 bfh Financing Receivable After Allowance For Credit Loss Gross
FinancingReceivableAfterAllowanceForCreditLossGross
19333000000 usd
CY2022Q4 bfh Financing Receivable After Allowance For Credit Loss Gross
FinancingReceivableAfterAllowanceForCreditLossGross
21365000000 usd
CY2023Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
2328000000 usd
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
2464000000 usd
CY2023Q4 bfh Financing Receivable After Allowance For Credit Loss Net
FinancingReceivableAfterAllowanceForCreditLossNet
17005000000 usd
CY2022Q4 bfh Financing Receivable After Allowance For Credit Loss Net
FinancingReceivableAfterAllowanceForCreditLossNet
18901000000 usd
CY2023Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
371000000 usd
CY2022Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
307000000 usd
CY2023Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
18927000000 usd
CY2022Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
21031000000 usd
CY2023Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
371000000 usd
CY2022Q4 us-gaap Unbilled Receivables Current
UnbilledReceivablesCurrent
307000000 usd
CY2023 bfh Re Aged Accounts As Percentage Of Total Credit Card And Loan Receivables
ReAgedAccountsAsPercentageOfTotalCreditCardAndLoanReceivables
0.026
CY2022 bfh Re Aged Accounts As Percentage Of Total Credit Card And Loan Receivables
ReAgedAccountsAsPercentageOfTotalCreditCardAndLoanReceivables
0.014
CY2021 bfh Re Aged Accounts As Percentage Of Total Credit Card And Loan Receivables
ReAgedAccountsAsPercentageOfTotalCreditCardAndLoanReceivables
0.017
CY2023 bfh Past Due Period For Credit Card Loans Charge Off
PastDuePeriodForCreditCardLoansChargeOff
P30D
CY2023Q4 bfh Delinquency Rate
DelinquencyRate
0.065
CY2022Q4 bfh Delinquency Rate
DelinquencyRate
0.055
CY2023 bfh Charge Off Of Unpaid Interest And Fees
ChargeOffOfUnpaidInterestAndFees
954000000 usd
CY2021 bfh Charge Off Of Unpaid Interest And Fees
ChargeOffOfUnpaidInterestAndFees
456000000 usd
CY2023 bfh Net Principal Loss Rate
NetPrincipalLossRate
0.075
CY2022 bfh Net Principal Loss Rate
NetPrincipalLossRate
0.054
CY2023Q4 bfh Percentage Of Financing Receivable Credit Card Receivables Outstanding
PercentageOfFinancingReceivableCreditCardReceivablesOutstanding
0.001
CY2022Q4 bfh Percentage Of Financing Receivable Credit Card Receivables Outstanding
PercentageOfFinancingReceivableCreditCardReceivablesOutstanding
0.006
CY2023Q4 us-gaap Financing Receivable Excluding Accrued Interest Modified Past12 Months
FinancingReceivableExcludingAccruedInterestModifiedPast12Months
269000000 usd
CY2022Q4 bfh Percentage Of Credit Card And Loan Receivables With Temporary Hardships And Permanent Concessions
PercentageOfCreditCardAndLoanReceivablesWithTemporaryHardshipsAndPermanentConcessions
0.01
CY2022Q4 bfh Credit Card And Loan Receivables With Temporary And Permanent Concessions
CreditCardAndLoanReceivablesWithTemporaryAndPermanentConcessions
257000000 usd
CY2022Q4 bfh Financing Receivable Related Allowance Impaired
FinancingReceivableRelatedAllowanceImpaired
70000000 usd
CY2022 bfh Financing Receivable Average Recorded Investment
FinancingReceivableAverageRecordedInvestment
257000000 usd
CY2022 bfh Financing Receivable Interest Income Modification
FinancingReceivableInterestIncomeModification
15000000 usd
CY2023Q4 bfh Unused Credit Lines Available To Cardholders
UnusedCreditLinesAvailableToCardholders
113000000000 usd
CY2022Q4 bfh Unused Credit Lines Available To Cardholders
UnusedCreditLinesAvailableToCardholders
128000000000 usd
CY2023 bfh Number Of Credit Card Loans Held For Sale
NumberOfCreditCardLoansHeldForSale
0 loan
CY2022 bfh Number Of Credit Card Loans Held For Sale
NumberOfCreditCardLoansHeldForSale
0 loan
CY2023 bfh Number Of Portfolio Sales
NumberOfPortfolioSales
0 portfolio_sale
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
2464000000 usd
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
1832000000 usd
CY2020Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
2008000000 usd
CY2023 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
1229000000 usd
CY2022 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
1594000000 usd
CY2021 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
544000000 usd
CY2023 bfh Financing Receivable Change In Estimate For Uncollectible Unpaid Interest And Fees
FinancingReceivableChangeInEstimateForUncollectibleUnpaidInterestAndFees
10000000 usd
CY2022 bfh Financing Receivable Change In Estimate For Uncollectible Unpaid Interest And Fees
FinancingReceivableChangeInEstimateForUncollectibleUnpaidInterestAndFees
10000000 usd
CY2021 bfh Financing Receivable Change In Estimate For Uncollectible Unpaid Interest And Fees
FinancingReceivableChangeInEstimateForUncollectibleUnpaidInterestAndFees
0 usd
CY2023 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
1375000000 usd
CY2022 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
972000000 usd
CY2021 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
720000000 usd
CY2023Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
2328000000 usd
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
2464000000 usd
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
1832000000 usd
CY2023 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
332000000 usd
CY2022 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
187000000 usd
CY2021 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
163000000 usd
CY2023 bfh Financing Receivable Adjustment For Repurchase Of Previously Written Off Accounts
FinancingReceivableAdjustmentForRepurchaseOfPreviouslyWrittenOffAccounts
10000000 usd
CY2022 bfh Financing Receivable Adjustment For Repurchase Of Previously Written Off Accounts
FinancingReceivableAdjustmentForRepurchaseOfPreviouslyWrittenOffAccounts
5000000 usd
CY2023Q4 bfh Credit Card And Loan Receivables Restricted For Securitization Investors
CreditCardAndLoanReceivablesRestrictedForSecuritizationInvestors
12844000000 usd
CY2022Q4 bfh Credit Card And Loan Receivables Restricted For Securitization Investors
CreditCardAndLoanReceivablesRestrictedForSecuritizationInvestors
15383000000 usd
CY2023Q4 bfh Restricted Credit Card Receivables91 Days Or More Past Due
RestrictedCreditCardReceivables91DaysOrMorePastDue
323000000 usd
CY2022Q4 bfh Restricted Credit Card Receivables91 Days Or More Past Due
RestrictedCreditCardReceivables91DaysOrMorePastDue
307000000 usd
CY2023 us-gaap Net Credit Loss On Loans Managed Or Securitized Or Assetbacked Financing Arrangement
NetCreditLossOnLoansManagedOrSecuritizedOrAssetbackedFinancingArrangement
801000000 usd
CY2022 us-gaap Net Credit Loss On Loans Managed Or Securitized Or Assetbacked Financing Arrangement
NetCreditLossOnLoansManagedOrSecuritizedOrAssetbackedFinancingArrangement
554000000 usd
CY2021 us-gaap Net Credit Loss On Loans Managed Or Securitized Or Assetbacked Financing Arrangement
NetCreditLossOnLoansManagedOrSecuritizedOrAssetbackedFinancingArrangement
453000000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
171000000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
152000000 usd
CY2023Q4 us-gaap Equity Securities Fv Ni Current And Noncurrent
EquitySecuritiesFvNiCurrentAndNoncurrent
46000000 usd
CY2022Q4 us-gaap Equity Securities Fv Ni Current And Noncurrent
EquitySecuritiesFvNiCurrentAndNoncurrent
44000000 usd
CY2023Q4 us-gaap Trading Securities
TradingSecurities
217000000 usd
CY2022Q4 us-gaap Trading Securities
TradingSecurities
196000000 usd
CY2023Q4 bfh Equity Method And Other Investments
EquityMethodAndOtherInvestments
36000000 usd
CY2022Q4 bfh Equity Method And Other Investments
EquityMethodAndOtherInvestments
25000000 usd
CY2023Q4 us-gaap Investments
Investments
253000000 usd
CY2022Q4 us-gaap Investments
Investments
221000000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Amortized Cost After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostAfterAllowanceForCreditLoss
192000000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
21000000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
171000000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Amortized Cost After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostAfterAllowanceForCreditLoss
175000000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
23000000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
152000000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Amortized Cost After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostAfterAllowanceForCreditLoss
192000000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
21000000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
171000000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Amortized Cost After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAmortizedCostAfterAllowanceForCreditLoss
175000000 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
0 usd
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
23000000 usd
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
152000000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
23000000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
0 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
141000000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
21000000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
164000000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
21000000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
23000000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
0 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
141000000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
21000000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
164000000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
21000000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
95000000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
9000000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
57000000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
14000000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
152000000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
23000000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
95000000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
9000000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
57000000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
14000000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
152000000 usd
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
23000000 usd
CY2021 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0 usd
CY2023 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0 usd
CY2022 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0 usd
CY2022Q4 us-gaap Goodwill
Goodwill
634000000 usd
CY2021Q4 us-gaap Goodwill
Goodwill
634000000 usd
CY2023Q4 us-gaap Goodwill
Goodwill
634000000 usd
CY2021 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2023 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2022 us-gaap Goodwill Impairment Loss
GoodwillImpairmentLoss
0 usd
CY2023Q4 us-gaap Goodwill Impaired Accumulated Impairment Loss
GoodwillImpairedAccumulatedImpairmentLoss
0 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
233000000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
109000000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
124000000 usd
CY2023Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
237000000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
109000000 usd
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
128000000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
241000000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
80000000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
161000000 usd
CY2022Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
245000000 usd
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
80000000 usd
CY2022Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
165000000 usd
CY2023 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
37000000 usd
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
26000000 usd
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
29000000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
33000000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
25000000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
24000000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
21000000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseYearFive
6000000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
15000000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
124000000 usd
CY2020Q1 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
629000000 usd
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
552000000 usd
CY2023Q4 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
285000000 usd
CY2022Q4 us-gaap Deferred Costs Current And Noncurrent
DeferredCostsCurrentAndNoncurrent
344000000 usd
CY2023Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
144000000 usd
CY2022Q4 us-gaap Accounts Receivable Net
AccountsReceivableNet
164000000 usd
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
98000000 usd
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
88000000 usd
CY2023Q4 us-gaap Restricted Cash
RestrictedCash
26000000 usd
CY2022Q4 us-gaap Restricted Cash
RestrictedCash
36000000 usd
CY2023Q4 us-gaap Equity Method Investments
EquityMethodInvestments
0 usd
CY2022Q4 us-gaap Equity Method Investments
EquityMethodInvestments
6000000 usd
CY2023Q4 bfh Other Sundry Assets
OtherSundryAssets
182000000 usd
CY2022Q4 bfh Other Sundry Assets
OtherSundryAssets
210000000 usd
CY2023Q4 us-gaap Other Assets
OtherAssets
1364000000 usd
CY2022Q4 us-gaap Other Assets
OtherAssets
1400000000 usd
CY2023Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.069
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.058
CY2023Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y4M24D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P8Y9M18D
CY2023 us-gaap Lease Cost
LeaseCost
25000000 usd
CY2022 us-gaap Lease Cost
LeaseCost
13000000 usd
CY2021 us-gaap Lease Cost
LeaseCost
20000000 usd
CY2023 us-gaap Operating Lease Payments
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