Well Positioned to Deliver Sustainable Growth
Non-GAAP Reconciliation Continued
The following table sets forth a reconciliation between GAAP results and non-GAAP managed-basis results for 2009
$ in millions
Net charge-offs as a % of average loan receivables, including held for sale:
GAAP
Securitization adjustments
Managed basis
Net interest income as a % of average loan receivables, including held for sale:
GAAP
Securitization adjustments
Managed basis
Year ended
December 31, 2009
11.26 %
(0.59) %
10.67 %
16.21 %
1.44 %
17.65 %
Retailer share arrangements as a % of average loan receivables, including held for
GAAP
Securitization adjustments
Managed basis
Average loan receivables
3.40 %
(1.80) %
1.60 %
GAAP
Securitization adjustments
Managed basis
End of period loans
GAAP
Securitization adjustments
Managed basis
"synchrony
$23,485
23,181
$46,666
$22,912
23,964
$46,876
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