2015 Q4 Form 10-K Financial Statement

#000160171217000031 Filed on February 23, 2017

View on sec.gov

Income Statement

Concept 2015 Q4 2015 Q3 2015 Q2
Revenue
YoY Change
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $47.00M $46.00M $44.00M
YoY Change 34.29% 39.39% 37.5%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $301.0M $289.0M $270.0M
YoY Change 6.74% 18.44% 31.07%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $868.0M $919.0M $861.0M
YoY Change 1.76% 4.55% 12.7%
Income Tax $321.0M $345.0M $320.0M
% Of Pretax Income 36.98% 37.54% 37.17%
Net Earnings $547.0M $574.0M $541.0M
YoY Change 3.01% 4.74% 14.62%
Net Earnings / Revenue
Basic Earnings Per Share $0.66 $0.69 $0.65
Diluted Earnings Per Share $0.65 $0.69 $0.65
COMMON SHARES
Basic Shares Outstanding 833.8M shares 834.0M shares 834.0M shares
Diluted Shares Outstanding 836.0M shares 835.0M shares

Balance Sheet

Concept 2015 Q4 2015 Q3 2015 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $12.33B $12.27B $10.62B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill $949.0M $949.0M $949.0M
YoY Change 0.0% 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $83.99B $79.44B $75.75B
YoY Change 10.94% 8.13% 19.91%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $3.740B $2.855B $2.708B
YoY Change 32.91% -12.29% -19.09%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.740B $2.855B $2.708B
YoY Change 32.91% -25.98% -31.84%
LONG-TERM LIABILITIES
Long-Term Debt $24.28B $23.88B $23.69B
YoY Change -11.58% -11.49% 6.02%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $24.28B $23.88B $23.69B
YoY Change -11.58% -11.49% 6.02%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.740B $2.855B $2.708B
Total Long-Term Liabilities $24.28B $23.88B $23.69B
Total Liabilities $71.39B $67.28B $64.17B
YoY Change 9.44% 5.91% 13.01%
SHAREHOLDERS EQUITY
Retained Earnings $3.293B $2.746B $2.172B
YoY Change 205.19% 401.09%
Common Stock $1.000M $1.000M $1.000M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $0.00
YoY Change
Treasury Stock Shares 0.000 shares
Shareholders Equity $12.60B $12.16B $11.58B
YoY Change
Total Liabilities & Shareholders Equity $83.99B $79.44B $75.75B
YoY Change 10.94% 8.13% 19.91%

Cashflow Statement

Concept 2015 Q4 2015 Q3 2015 Q2
OPERATING ACTIVITIES
Net Income $547.0M $574.0M $541.0M
YoY Change 3.01% 4.74% 14.62%
Depreciation, Depletion And Amortization $47.00M $46.00M $44.00M
YoY Change 34.29% 39.39% 37.5%
Cash From Operating Activities $1.889B $1.317B $1.313B
YoY Change 80.59% 1.7% 7.01%
INVESTING ACTIVITIES
Capital Expenditures
YoY Change
Acquisitions
YoY Change
Other Investing Activities -$5.193B -$2.619B -$4.341B
YoY Change -15.66% -9.56% 50.73%
Cash From Investing Activities -$5.193B -$2.619B -$4.341B
YoY Change -15.66% -9.56% 50.73%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 3.358B 2.952B 2.431B
YoY Change 57.58% -69.34% -21.68%
NET CHANGE
Cash From Operating Activities 1.889B 1.317B 1.313B
Cash From Investing Activities -5.193B -2.619B -4.341B
Cash From Financing Activities 3.358B 2.952B 2.431B
Net Change In Cash 54.00M 1.650B -597.0M
YoY Change -101.81% -79.44% -141.14%
FREE CASH FLOW
Cash From Operating Activities $1.889B $1.317B $1.313B
Capital Expenditures
Free Cash Flow
YoY Change

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CY2016 us-gaap Deferred Foreign Income Tax Expense Benefit
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CY2014 us-gaap Deferred Income Tax Expense Benefit
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CY2016 us-gaap Deferred State And Local Income Tax Expense Benefit
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246000000 USD
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222000000 USD
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0.03
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CY2015 us-gaap Earnings Per Share Basic
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0.70
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0.59
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0.73
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2.78
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CY2015 us-gaap Earnings Per Share Diluted
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0.023
CY2016 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
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FinancingReceivableModificationsPostModificationRecordedInvestment2
585000000 USD
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CY2015 us-gaap Financing Receivable Modifications Subsequent Default Number Of Contracts1
FinancingReceivableModificationsSubsequentDefaultNumberOfContracts1
28221 contract
CY2016 us-gaap Financing Receivable Modifications Subsequent Default Number Of Contracts1
FinancingReceivableModificationsSubsequentDefaultNumberOfContracts1
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280000000 USD
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3236000000 USD
CY2015Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
3497000000 USD
CY2016Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
4344000000 USD
CY2015Q4 us-gaap Loans And Leases Receivable Deferred Income
LoansAndLeasesReceivableDeferredIncome
63000000 USD
CY2016Q4 us-gaap Loans And Leases Receivable Deferred Income
LoansAndLeasesReceivableDeferredIncome
82000000 USD
CY2015Q4 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
68290000000 USD
CY2016Q4 us-gaap Loans And Leases Receivable Net Of Deferred Income
LoansAndLeasesReceivableNetOfDeferredIncome
76337000000 USD
CY2015Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
64793000000 USD
CY2016Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
71993000000 USD
CY2015Q4 us-gaap Long Term Debt
LongTermDebt
24279000000 USD
CY2016Q4 us-gaap Long Term Debt
LongTermDebt
20147000000 USD
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
2750000000 USD
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
3977000000 USD
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
1408000000 USD
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
2124000000 USD
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
6735000000 USD
CY2016Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
3207000000 USD
CY2014 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
14237000000 USD
CY2015 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
5116000000 USD
CY2016 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
3493000000 USD
CY2014 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-10068000000 USD
CY2015 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-10803000000 USD
CY2016 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-13320000000 USD
CY2015Q4 us-gaap Noninterest Bearing Deposit Liabilities
NoninterestBearingDepositLiabilities
152000000 USD
CY2016Q4 us-gaap Noninterest Bearing Deposit Liabilities
NoninterestBearingDepositLiabilities
159000000 USD
CY2014 us-gaap Noninterest Expense
NoninterestExpense
2927000000 USD
CY2015 us-gaap Noninterest Expense
NoninterestExpense
3264000000 USD
CY2016 us-gaap Noninterest Expense
NoninterestExpense
3416000000 USD
CY2014 us-gaap Noninterest Income
NoninterestIncome
485000000 USD
CY2015 us-gaap Noninterest Income
NoninterestIncome
392000000 USD
CY2016 us-gaap Noninterest Income
NoninterestIncome
344000000 USD
CY2014 us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
102000000 USD
CY2015 us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
57000000 USD
CY2016 us-gaap Noninterest Income Other Operating Income
NoninterestIncomeOtherOperatingIncome
27000000 USD
CY2016 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1 segment
CY2015Q4 us-gaap Other Assets
OtherAssets
2080000000 USD
CY2014 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
5340000000 USD
CY2015 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
6184000000 USD
CY2016 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
6823000000 USD
CY2014 us-gaap Net Income Loss
NetIncomeLoss
2109000000 USD
CY2015Q1 us-gaap Net Income Loss
NetIncomeLoss
552000000 USD
CY2015Q2 us-gaap Net Income Loss
NetIncomeLoss
541000000 USD
CY2015Q3 us-gaap Net Income Loss
NetIncomeLoss
574000000 USD
CY2015Q4 us-gaap Net Income Loss
NetIncomeLoss
547000000 USD
CY2015 us-gaap Net Income Loss
NetIncomeLoss
2214000000 USD
CY2016Q1 us-gaap Net Income Loss
NetIncomeLoss
582000000 USD
CY2016Q2 us-gaap Net Income Loss
NetIncomeLoss
489000000 USD
CY2016Q3 us-gaap Net Income Loss
NetIncomeLoss
604000000 USD
CY2016Q4 us-gaap Net Income Loss
NetIncomeLoss
576000000 USD
CY2016 us-gaap Net Income Loss
NetIncomeLoss
2251000000 USD
CY2016Q4 us-gaap Other Assets
OtherAssets
2122000000 USD
CY2014 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
1000000 USD
CY2015 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
10000000 USD
CY2016 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
3000000 USD
CY2014 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
9000000 USD
CY2015 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-10000000 USD
CY2016 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-8000000 USD
CY2014 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-5000000 USD
CY2015 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-11000000 USD
CY2016 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-1000000 USD
CY2014 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
3000000 USD
CY2015 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-31000000 USD
CY2016 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-12000000 USD
CY2016 us-gaap Other Labor Related Expenses
OtherLaborRelatedExpenses
99000000 USD
CY2014 us-gaap Other Noninterest Expense
OtherNoninterestExpense
826000000 USD
CY2015 us-gaap Other Noninterest Expense
OtherNoninterestExpense
847000000 USD
CY2016 us-gaap Other Noninterest Expense
OtherNoninterestExpense
810000000 USD
CY2016 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
218000000 USD
CY2014 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
CY2015 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
CY2016 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
476000000 USD
CY2014 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
0 USD
CY2015 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
0 USD
CY2016 us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
214000000 USD
CY2014 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
1376000000 USD
CY2015 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
5102000000 USD
CY2016 us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
3380000000 USD
CY2014 us-gaap Payments To Acquire Loans Receivable
PaymentsToAcquireLoansReceivable
0 USD
CY2015 us-gaap Payments To Acquire Loans Receivable
PaymentsToAcquireLoansReceivable
1051000000 USD
CY2015Q4 us-gaap Other Short Term Investments
OtherShortTermInvestments
548000000 USD
CY2016Q4 us-gaap Other Short Term Investments
OtherShortTermInvestments
40000000 USD
CY2014 us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
0 USD
CY2015 us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
0 USD
CY2016 us-gaap Other Than Temporary Impairment Losses Investments Availableforsale Securities
OtherThanTemporaryImpairmentLossesInvestmentsAvailableforsaleSecurities
0 USD
CY2014 us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
8755000000 USD
CY2015 us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
8852000000 USD
CY2016 us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
11092000000 USD
CY2014 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
446000000 USD
CY2015 us-gaap Payments For Proceeds From Other Investing Activities
PaymentsForProceedsFromOtherInvestingActivities
441000000 USD
CY2016 us-gaap Payments To Acquire Loans Receivable
PaymentsToAcquireLoansReceivable
54000000 USD
CY2014Q3 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
2800000000 USD
CY2014 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
2842000000 USD
CY2015 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
0 USD
CY2016 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
0 USD
CY2014 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
5170000000 USD
CY2015 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
3868000000 USD
CY2016 us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
3791000000 USD
CY2014 us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
12276000000 USD
CY2015 us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
2978000000 USD
CY2016 us-gaap Proceeds From Issuance Of Unsecured Debt
ProceedsFromIssuanceOfUnsecuredDebt
1193000000 USD
CY2014 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-18000000 USD
CY2015 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
2000000 USD
CY2016 us-gaap Proceeds From Payments For Other Financing Activities
ProceedsFromPaymentsForOtherFinancingActivities
-5000000 USD
CY2014 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
1615000000 USD
CY2015 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
0 USD
CY2016 us-gaap Proceeds From Repayments Of Related Party Debt
ProceedsFromRepaymentsOfRelatedPartyDebt
0 USD
CY2014 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
27000000 USD
CY2015 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
3538000000 USD
CY2016 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
1380000000 USD
CY2014 us-gaap Proceeds From Sale Of Loans Receivable
ProceedsFromSaleOfLoansReceivable
1510000000 USD
CY2015 us-gaap Proceeds From Sale Of Loans Receivable
ProceedsFromSaleOfLoansReceivable
392000000 USD
CY2016 us-gaap Proceeds From Sale Of Loans Receivable
ProceedsFromSaleOfLoansReceivable
0 USD
CY2014 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
2842000000 USD
CY2016Q4 us-gaap Time Deposit Maturities After Year Five
TimeDepositMaturitiesAfterYearFive
2105000000 USD
CY2014 us-gaap Professional Fees
ProfessionalFees
563000000 USD
CY2015 us-gaap Professional Fees
ProfessionalFees
645000000 USD
CY2016 us-gaap Professional Fees
ProfessionalFees
638000000 USD
CY2014 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
2917000000 USD
CY2015 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
2952000000 USD
CY2016 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
3986000000 USD
CY2014 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
10015000000 USD
CY2015 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
655000000 USD
CY2016 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
0 USD
CY2014 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
5569000000 USD
CY2015 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
5244000000 USD
CY2016 us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
4999000000 USD
CY2014 us-gaap Repayments Of Unsecured Debt
RepaymentsOfUnsecuredDebt
505000000 USD
CY2015 us-gaap Repayments Of Unsecured Debt
RepaymentsOfUnsecuredDebt
4094000000 USD
CY2016 us-gaap Repayments Of Unsecured Debt
RepaymentsOfUnsecuredDebt
4151000000 USD
CY2015Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
391000000 USD
CY2016Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
347000000 USD
CY2015Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
3293000000 USD
CY2016Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
5330000000 USD
CY2015Q4 us-gaap Senior Notes
SeniorNotes
6557000000 USD
CY2016Q4 us-gaap Senior Notes
SeniorNotes
7759000000 USD
CY2016Q3 us-gaap Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
952000000 USD
CY2013Q4 us-gaap Stockholders Equity
StockholdersEquity
5960000000 USD
CY2014Q4 us-gaap Stockholders Equity
StockholdersEquity
10478000000 USD
CY2015Q4 us-gaap Stockholders Equity
StockholdersEquity
12604000000 USD
CY2016Q4 us-gaap Stockholders Equity
StockholdersEquity
14196000000 USD
CY2016Q4 us-gaap Time Deposit Maturities Year Five
TimeDepositMaturitiesYearFive
2182000000 USD
CY2016Q4 us-gaap Time Deposit Maturities Year Four
TimeDepositMaturitiesYearFour
2864000000 USD
CY2016Q4 us-gaap Time Deposit Maturities Year One
TimeDepositMaturitiesYearOne
15782000000 USD
CY2016Q4 us-gaap Time Deposit Maturities Year Three
TimeDepositMaturitiesYearThree
4208000000 USD
CY2016Q4 us-gaap Time Deposit Maturities Year Two
TimeDepositMaturitiesYearTwo
4672000000 USD
CY2015Q4 us-gaap Time Deposits100000 Or More
TimeDeposits100000OrMore
11900000000 USD
CY2016Q4 us-gaap Time Deposits100000 Or More
TimeDeposits100000OrMore
14200000000 USD
CY2016 us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
28.55
CY2015Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
0 shares
CY2016Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
16632356 shares
CY2016 us-gaap Treasury Stock Shares Acquired
TreasuryStockSharesAcquired
16700000 shares
CY2015Q4 us-gaap Treasury Stock Value
TreasuryStockValue
0 USD
CY2016Q4 us-gaap Treasury Stock Value
TreasuryStockValue
475000000 USD
CY2016 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
476000000 USD
CY2014Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
102000000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
327000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
1000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Settlements With Taxing Authorities
UnrecognizedTaxBenefitsDecreasesResultingFromSettlementsWithTaxingAuthorities
0 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
236000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Current Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromCurrentPeriodTaxPositions
21000000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
150000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
8000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Decreases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsDecreasesResultingFromPriorPeriodTaxPositions
208000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
6000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Increases Resulting From Prior Period Tax Positions
UnrecognizedTaxBenefitsIncreasesResultingFromPriorPeriodTaxPositions
16000000 USD
CY2016 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
6000000 USD
CY2015 us-gaap Unrecognized Tax Benefits Reductions Resulting From Lapse Of Applicable Statute Of Limitations
UnrecognizedTaxBenefitsReductionsResultingFromLapseOfApplicableStatuteOfLimitations
8000000 USD
CY2015Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
79000000 USD
CY2016Q4 us-gaap Unrecognized Tax Benefits That Would Impact Effective Tax Rate
UnrecognizedTaxBenefitsThatWouldImpactEffectiveTaxRate
99000000 USD
CY2015Q4 us-gaap Unsecured Debt
UnsecuredDebt
4133000000 USD
CY2016Q4 us-gaap Unsecured Debt
UnsecuredDebt
0 USD
CY2014 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
200000 shares
CY2015 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
1700000 shares
CY2016 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
2300000 shares
CY2014 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
757600000 shares
CY2015 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
835500000 shares
CY2016 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
831500000 shares
CY2014 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
757400000 shares
CY2015 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
833800000 shares
CY2016 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
829200000 shares
CY2016 us-gaap Revenue Recognition Interest
RevenueRecognitionInterest
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-style:italic;">Interest and Fees on Loans</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">We use the effective interest method to recognize income on loans. Interest on loans is comprised largely of interest and late fees on credit card and other loans. Interest income is recognized based upon the amount of loans outstanding and their contractual interest rate. Late fees are recognized when billable to the customer. We continue to accrue interest and fees on credit cards until the accounts are charged-off in the period the account becomes</font><font style="font-family:Arial;font-size:10pt;"> </font><font style="font-family:Arial;font-size:10pt;">180</font><font style="font-family:Arial;font-size:10pt;"> </font><font style="font-family:Arial;font-size:10pt;">days past due. For non-credit card loans, we stop accruing interest and fees when the account becomes</font><font style="font-family:Arial;font-size:10pt;"> </font><font style="font-family:Arial;font-size:10pt;">90</font><font style="font-family:Arial;font-size:10pt;"> </font><font style="font-family:Arial;font-size:10pt;">days past due. Previously recognized interest income that was accrued but not collected from the customer is reversed. Although we stop accruing interest in advance of payments, we recognize interest income as cash is collected when appropriate, provided the amount does not exceed that which would have been earned at the historical effective interest rate; otherwise, payments received are applied to reduce the principal balance of the loan.</font><font style="font-family:Arial;font-size:10pt;"> </font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">We resume accruing interest on non-credit card loans when the customer&#8217;s account is less than</font><font style="font-family:Arial;font-size:10pt;"> </font><font style="font-family:Arial;font-size:10pt;">90</font><font style="font-family:Arial;font-size:10pt;"> </font><font style="font-family:Arial;font-size:10pt;">days past due and collection of such amounts is probable. Interest accruals on modified loans that are not considered to be TDRs may return to current status (re-aged) only after receipt of at least</font><font style="font-family:Arial;font-size:10pt;"> </font><font style="font-family:Arial;font-size:10pt;">three</font><font style="font-family:Arial;font-size:10pt;"> </font><font style="font-family:Arial;font-size:10pt;">consecutive minimum monthly payments subject to a re-aging limitation of once a</font><font style="font-family:Arial;font-size:10pt;"> </font><font style="font-family:Arial;font-size:10pt;">year</font><font style="font-family:Arial;font-size:10pt;">, </font><font style="font-family:Arial;font-size:10pt;">or twice in a</font><font style="font-family:Arial;font-size:10pt;"> </font><font style="font-family:Arial;font-size:10pt;">five</font><font style="font-family:Arial;font-size:10pt;">-year period.</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Direct loan origination costs on credit card loans are deferred and amortized on a straight-line basis over a one-year period, or the life of the loan for other loan receivables, and are included in interest and fees on loans in our Consolidated</font><font style="font-family:Arial;font-size:10pt;"> and Combined </font><font style="font-family:Arial;font-size:10pt;">Statements of Earnings. See Note 4. </font><font style="font-family:Arial;font-size:10pt;font-style:italic;">Loan Receivables and Allowance for Loan Losses</font><font style="font-family:Arial;font-size:10pt;"> for further detail.</font><font style="font-family:Arial;font-size:10pt;"> </font></div><div style="line-height:120%;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Other loan fees including miscellaneous fees charged to borrowers are recognized net of waivers and charge-offs when the related transaction or service is provided, and are included in other income in our Consolidated</font><font style="font-family:Arial;font-size:10pt;"> and Combined </font><font style="font-family:Arial;font-size:10pt;">Statements of Earnings.</font></div></div>
CY2016 us-gaap Revenue Recognition Loyalty Programs
RevenueRecognitionLoyaltyPrograms
<div style="font-family:Times New Roman;font-size:10pt;"><div style="line-height:120%;padding-top:12px;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;font-style:italic;">Loyalty Programs</font></div><div style="line-height:120%;padding-bottom:16px;padding-top:16px;text-align:left;font-size:10pt;"><font style="font-family:Arial;font-size:10pt;">Our loyalty programs are designed to generate increased purchase volume per customer while reinforcing the value of our credit cards and strengthening cardholder loyalty. These programs typically provide cardholders with rewards in the form of merchandise discounts that are earned by achieving a pre-set spending level on their private label credit card, Dual Card or general purpose co-branded credit card. Other programs provide cash back or reward points, which are redeemable for a variety of products or awards. These programs are primarily in our Retail Card platform. We establish a rewards liability based on points and merchandise discounts earned that are ultimately expected to be redeemed and the average cost per point at redemption. The rewards liability is included in accrued expenses and other liabilities in our Consolidated Statements of Financial Position. Cash rebates are earned based on a tiered percentage of purchase volume. As points and discounts are redeemed or cash rebates are issued, the rewards liability is relieved. The estimated cost of loyalty programs is classified as a reduction to other income in our Consolidated</font><font style="font-family:Arial;font-size:10pt;"> and Combined </font><font style="font-family:Arial;font-size:10pt;">Statements of Earnings.</font></div></div>

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