C Earnings

s the right to modify an Award without a Participant’s prior consent if it determines that the modification is required to comply with applicable law, regulation, or regulatory guidance (including applicable tax law). Except as may be provided by Section 7(e), Section 11, and this Section 20, any other adverse modification shall not be effective without the Pa

a net allowance for credit losses (ACL) build of $597 million, driven by portfolio quality, including seasonal mix changes, as well as increased uncertainty in the macroeconomic outlook, partially offset by refinements to loss assumptions and lower net lending activity. Net credit losses were down 10% from the prior-year period, driven by decreases in USCC and

easonal portfolio mix changes, the forward purchase commitment of the Barclays American Airlines co-branded card portfolio, as well as increased uncertainty in the macroeconomic outlook. This was largely offset by lower seasonal volumes and refinements to loss assumptions. Net credit losses were down 11% from the prior-year period, driven by improved credit pe

or-year period was $359 million, reflecting $256 million of net credit losses and a net ACL build of $103 million, primarily driven by increased uncertainty in the macroeconomic outlook and higher volume in Mexico Consumer. ​ All Other (managed basis) net loss was $(494) million, compared to $(856) million in the prior-year period, driven by higher revenues an

dollars applying the fourth quarter of 2025 average exchange rates for all quarterly periods, and full-year 2025 average exchange rates for full year results, with the exception of EOP loans and deposits, which were calculated based on exchange rates as of December 31, 2025.