Business Context and Reporting Period
This Form 8-K Current Report was filed by Synchrony Financial on February 15, 2018. The report serves as a Regulation FD disclosure to furnish monthly credit performance statistics to the public.
Key Financial Metrics
The filing does not contain revenue, profit, cash flow, margin, debt, or liquidity figures. Instead, it provides an exhibit containing Monthly Charge-Off and Delinquency Statistics for the thirteen-month period ended January 31, 2018.
Material Changes
The filing does not report specific material changes in financial performance compared to prior periods. It establishes a reporting cadence, noting that these monthly statistics will be furnished contemporaneously with quarterly financial results for the final month of each calendar quarter.
Guidance, Outlook, and Risks
Management Commentary: The Company intends to continue furnishing monthly charge-off and delinquency statistics.
Legal Status: The information in Item 7.01 and Exhibit 99.1 is furnished, not "filed," under the Securities Exchange Act of 1934 and is not subject to Section 18 liabilities or automatic incorporation by reference.
Investor Verification Checklist
- Review Exhibit 99.1 for the specific charge-off and delinquency rates for the thirteen months ended January 31, 2018.
- Verify the trend in credit quality metrics against the Company's most recent quarterly earnings release.
- Confirm that future monthly statistics will be released alongside quarterly results for the last month of each quarter.