Rendering

Component: (Network and Table)
Network
2328301 - Disclosure - Fair Value Measurements (Tables)
(http://www.synchronyfinancial.com/role/FairValueMeasurementsTables)
Table(Implied)
Slicers (applies to each fact value in each table cell)
Fair Value Disclosures [Abstract]Period [Axis]
2016-01-01 - 2016-12-31
Fair Value Disclosures [Abstract]
 
Fair Value, Assets Measured on Recurring Basis
The following tables present our assets measured at fair value on a recurring basis.
At December 31, 2016 ($ in millions)
Level 1

 
Level 2

 
Level 3

 
Total

 
 
 
 
 
 
 
 
Assets
 
 
 
 
 
 
 
Investment securities
 
 
 
 
 
 
 
Debt
 
 
 
 
 
 
 
U.S. Government and Federal Agency
$

 
$
3,676

 
$

 
$
3,676

State and municipal

 

 
46

 
46

Residential mortgage-backed

 
1,373

 

 
1,373

Equity
15

 

 

 
15

Total
$
15

 
$
5,049

 
$
46

 
$
5,110

 
 
 
 
 
 
 
 
At December 31, 2015 ($ in millions)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Assets
 
 
 
 
 
 
 
Investment securities
 
 
 
 
 
 
 
Debt
 
 
 
 
 
 
 
U.S. Government and Federal Agency
$

 
$
2,761

 
$

 
$
2,761

State and municipal

 

 
49

 
49

Residential mortgage-backed

 
317

 

 
317

Equity
15

 

 

 
15

Total
$
15

 
$
3,078

 
$
49

 
$
3,142

 
 
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation
The following table presents the changes in our Level 3 debt instruments that are measured on a recurring basis for the years ended December 31, 2016 and 2015.
Changes in Level 3 Instruments
Years ended December 31, ($ in millions)
2016
 
2015
 
 
 
 
Balance at beginning of period
$
49

 
$
60

Net realized/unrealized gains (losses)
1

 
1

Purchases

 

Sales

 
(6
)
Settlements
(4
)
 
(6
)
Balance at end of period
$
46

 
$
49

 
 
 
 
Net change in unrealized gains (losses) relating to instruments still held at December 31
$
1

 
$
1

 
 
Fair Value, by Balance Sheet Grouping
Financial Assets and Financial Liabilities Carried at Other than Fair Value
 
Carrying

 
Corresponding fair value amount
At December 31, 2016 ($ in millions)
value

 
Total

 
Level 1

 
Level 2

 
Level 3

Financial Assets
 
 
 
 
 
 
 
 
 
Financial assets for which carrying values equal or approximate fair value:
 
 
 
 
 
 
 
 
 
Cash and equivalents(a)
$
9,321

 
$
9,321

 
$
9,321

 
$

 
$

Other assets(b)
$
347

 
$
347

 
$
347

 
$

 
$

Financial assets carried at other than fair value:
 
 
 
 
 
 
 
 
 
Loan receivables, net(c)
$
71,993

 
$
79,566

 
$

 
$

 
$
79,566

 
 
 
 
 
 
 
 
 
 
Financial Liabilities
 
 
 
 
 
 
 
 
 
Financial liabilities carried at other than fair value:
 
 
 
 
 
 
 
 
 
Deposits
$
52,055

 
$
52,507

 
$

 
$
52,507

 
$

Borrowings of consolidated securitization entities
$
12,388

 
$
12,402

 
$

 
$
9,191

 
$
3,211

Senior unsecured notes
$
7,759

 
$
7,875

 
$

 
$
7,875

 
$

 
 
 
 
 
 
 
 
 
 
 
Carrying

 
Corresponding fair value amount
At December 31, 2015 ($ in millions)
value

 
Total

 
Level 1

 
Level 2

 
Level 3

Financial Assets
 
 
 
 
 
 
 
 
 
Financial assets for which carrying values equal or approximate fair value:
 
 
 
 
 
 
 
 
 
Cash and equivalents(a)
$
12,325

 
$
12,325

 
$
11,865

 
$
460

 
$

Other assets(b)
$
391

 
$
391

 
$
391

 
$

 
$

Financial assets carried at other than fair value:
 
 
 
 
 
 
 
 
 
Loan receivables, net(c)
$
64,793

 
$
71,386

 
$

 
$

 
$
71,386

 
 
 
 
 
 
 
 
 
 
Financial Liabilities
 
 
 
 
 
 
 
 
 
Financial liabilities carried at other than fair value:
 
 
 
 
 
 
 
 
 
Deposits
$
43,367

 
$
43,840

 
$

 
$
43,840

 
$

Borrowings of consolidated securitization entities
$
13,589

 
$
13,562

 
$

 
$
7,566

 
$
5,996

Bank term loan
$
4,133

 
$
4,125

 
$

 
$

 
$
4,125

Senior unsecured notes
$
6,557

 
$
6,574

 
$

 
$
6,574

 
$

_______________________
(a)
For cash and equivalents, carrying value approximates fair value due to the liquid nature and short maturity of these instruments. Cash equivalents classified as Level 2 represent U.S. Government and Federal Agency debt securities with original maturities of three months or less.
(b)
This balance relates to restricted cash and equivalents, which is included in other assets.
(c)
Under certain retail partner program agreements, the expected sales proceeds in the event of a sale of their credit card portfolio may be limited to the amounts owed by our customers, which may be less than the fair value indicated above.