Alliance Data Systems(BFH) - 2023 Q3 - Quarterly Report

Financial Performance - Total interest income for the three months ended September 30, 2023, was $1,301 million, an increase from $1,218 million in the same period of 2022, representing a growth of 6.8%[49] - Net income for the three months ended September 30, 2023, was $171 million, compared to $134 million for the same period in 2022, reflecting a year-over-year increase of 27.6%[51] - Basic income per share from continuing operations for the three months ended September 30, 2023, was $3.47, compared to $2.69 for the same period in 2022, marking a growth of 29%[49] - Total comprehensive income for the three months ended September 30, 2023, was $164 million, compared to $127 million for the same period in 2022, reflecting a year-over-year increase of 29.1%[51] Expenses and Losses - Provision for credit losses for the three months ended September 30, 2023, was $304 million, unchanged from the same period in 2022[49] - Non-interest expenses for the three months ended September 30, 2023, totaled $502 million, up from $486 million in the same period of 2022, indicating an increase of 3.3%[49] - Total non-interest income for the three months ended September 30, 2023, was $(51) million, an improvement from $(106) million in the same period of 2022[49] Interest and Deposits - Interest on deposits for the three months ended September 30, 2023, was $143 million, significantly higher than $66 million in the same period of 2022, indicating a growth of 116.7%[49] - Total net interest and non-interest income after provision for credit losses for the three months ended September 30, 2023, was $727 million, an increase from $675 million in the same period of 2022, representing a growth of 7.7%[49] Regulatory and Market Risks - The company anticipates a final CFPB ruling that could significantly limit credit card late fees, which may impact future financial performance[45] - There has been no material change in exposure to interest rate risk or other market risks since the 2022 Form 10-K[268] Stock Information - As of October 20, 2023, there were 49,330,625 shares of common stock outstanding[54] - The company is classified as a large accelerated filer under the Exchange Act[54]