Business Context and Reporting Period
Company: Synchrony Financial
Filing Type: Form 8-K (Current Report)
Date of Report: March 15, 2018
Reporting Period: The filing covers monthly statistics as of and for the thirteen months ended February 28, 2018.
Key Financial Metrics
This filing does not contain consolidated financial statements, revenue, profit, cash flow, margins, debt, or liquidity metrics. The report is limited to the furnishing of specific credit quality statistics.
- Charge-Off Statistics: Provided in Exhibit 99.1 for the thirteen months ended February 28, 2018.
- Delinquency Statistics: Provided in Exhibit 99.1 for the thirteen months ended February 28, 2018.
Material Changes
The filing text does not provide specific numerical comparisons or material changes versus prior periods. It establishes a reporting cadence, noting that for the last month of each calendar quarter, these statistics will be furnished contemporaneously with the Company's quarterly financial results.
Guidance, Outlook, and Risks
Management Commentary: The Company intends to continue furnishing monthly charge-off and delinquency statistics.
Legal Status of Information: The information in Item 7.01 and Exhibit 99.1 is furnished pursuant to Regulation FD and is not deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934. It is not subject to the liabilities of that section nor incorporated by reference into other filings unless expressly stated.
Investor Verification Checklist
- Review Exhibit 99.1 for the specific monthly charge-off and delinquency rates for the thirteen months ended February 28, 2018.
- Verify the timing of future disclosures, noting that monthly statistics for the final month of a quarter will align with quarterly earnings announcements.
- Confirm that this 8-K does not contain audited financial results or forward-looking guidance on revenue or earnings.