v3.24.4
Revenue from Contracts with Customers
 12 Months Ended
Dec. 31, 2023
Revenue from Contract with Customer [Abstract]  
Revenue from Contracts with Customers Revenue from Contracts with Customers
ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”), generally applies to the sales of any good or service for which no other specific accounting guidance is provided. ASC 606 defines a principles-based model under which revenue from a contract is allocated to the distinct performance obligations within the contract and recognized in income as each performance obligation is satisfied. The Company’s revenue that is subject to this model includes discount and interchange, protection products fees, transaction processing revenue and certain amounts classified as other income.
The following table presents revenue from contracts with customers disaggregated by business segment and reconciles revenue from contracts with customers to total other income (dollars in millions):
Digital
Banking		Payment
Services		Total
(As Restated)
(As Restated)
For the Year Ended December 31, 2023
Other income subject to ASC 606
Discount and interchange revenue, net(1)
$1,294 $87 $1,381 
Protection products revenue172 — 172 
Transaction processing revenue— 303 303 
Other income16 69 85 
Total other income subject to ASC 606(2)
1,482 459 1,941 
Other income not subject to ASC 606
Loan fee income763 — 763 
Gains (losses) on equity investments— (9)(9)
Total other income (loss) not subject to ASC 606763 (9)754 
Total other income by operating segment$2,245 $450 $2,695 
For the Year Ended December 31, 2022
Other income subject to ASC 606
Discount and interchange revenue, net(1)
$1,224 $79 $1,303 
Protection products revenue172 — 172 
Transaction processing revenue— 249 249 
Other income11 64 75 
Total other income subject to ASC 606(2)
1,407 392 1,799 
Other income not subject to ASC 606
Loan fee income632 — 632 
Gains (losses) on equity investments2 (216)(214)
Total other income not subject to ASC 606634 (216)418 
Total other income by operating segment$2,041 $176 $2,217 
For the Year Ended December 31, 2021
Other income subject to ASC 606
Discount and interchange revenue, net(1)
$1,071 $73 $1,144 
Protection products revenue165 — 165 
Transaction processing revenue— 227 227 
Other income— 66 66 
Total other income subject to ASC 606(2)
1,236 366 1,602 
Other income not subject to ASC 606
Loan fee income464 — 464 
Gains on equity investments1 423 424 
Total other income not subject to ASC 606465 423 888 
Total other income by operating segment$1,701 $789 $2,490 
(1)    Net of rewards, including Cashback Bonus rewards, of $3.1 billion, $3.0 billion and $2.5 billion for the years ended December 31, 2023, 2022 and 2021, respectively.
(2)    Excludes $15 million, $10 million and $2 million deposit product fees that are reported within net interest income for the years ended December 31, 2023, 2022 and 2021, respectively.
For a detailed description of the Company’s significant revenue recognition accounting policies, see Note 2: Summary of Significant Accounting Policies.