BREAD FINANCIAL HOLDINGS, INC. (BFH) financial statements: income statement, balance sheet and cash flow

BREAD FINANCIAL HOLDINGS, INC.'s income statement, balance sheet and cash flow statement as filed with the SEC (10-K and 10-Q), with the latest fiscal years and quarters. In its latest fiscal year (Dec 31, 2025 · FY), BREAD FINANCIAL HOLDINGS, INC. reported net income of $518.0M (+87.0% year on year).

Income statement

BREAD FINANCIAL HOLDINGS, INC. income statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Interest and fees on loans	$4.7B	$4.8B	$5.0B	$4.6B
Interest on cash and investment securities	$173.0M	$204.0M	$184.0M	$69.0M
Total interest income	$4.9B	$5.0B	$5.1B	$4.7B
Interest on deposits	$554.0M	$608.0M	$541.0M	$243.0M
Interest on borrowings	$300.0M	$352.0M	$338.0M	$260.0M
Total interest expense	$854.0M	$960.0M	$879.0M	$503.0M
Interest income (expense)	$4.1B	$4.1B	$4.3B	$4.2B
Interchange revenue, net of retailer share arrangements	($416.0M)	($381.0M)	($335.0M)	($469.0M)
Gain on portfolio sale	$3.0M	$11.0M	$230.0M	—
Other	$200.0M	$144.0M	$128.0M	$114.0M
Total non-interest income	($213.0M)	($226.0M)	$23.0M	($355.0M)
Total net interest and non-interest income	$3.8B	$3.8B	$4.3B	$3.8B
Provision for credit losses	$1.2B	$1.4B	$1.2B	$1.6B
Total net interest and non-interest income, after provision for credit losses	$2.6B	$2.4B	$3.1B	$2.2B
Employee compensation and benefits	$880.0M	$897.0M	$867.0M	$779.0M
Card and processing expenses	$322.0M	$326.0M	$428.0M	$359.0M
Information processing and communication	$308.0M	$300.0M	$301.0M	$274.0M
Marketing expenses	$150.0M	$147.0M	$161.0M	$180.0M
Depreciation and amortization	$80.0M	$90.0M	$116.0M	$113.0M
Other	$248.0M	$300.0M	$219.0M	$227.0M
Total non-interest expenses	$2.0B	$2.1B	$2.1B	$1.9B
Income from continuing operations before income taxes	$615.0M	$381.0M	$968.0M	$300.0M
Provision for income taxes	$94.0M	$102.0M	$231.0M	$76.0M
Income from continuing operations	$521.0M	$279.0M	$737.0M	$224.0M
Loss from discontinued operations, net of income taxes	($3.0M)	($2.0M)	($19.0M)	($1.0M)
Net income available to common stockholders	$518.0M	$277.0M	$718.0M	$223.0M
Income from continuing operations (in dollars per share)	$11.15	$5.63	$14.79	$4.48
Loss from discontinued operations (in dollars per share)	-$0.08	-$0.05	-$0.40	-$0.01
Net income per share (in dollars per share)	$11.07	$5.58	$14.39	$4.47
Income from continuing operations (in dollars per share)	$10.96	$5.54	$14.74	$4.47
Loss from discontinued operations (in dollars per share)	-$0.07	-$0.05	-$0.40	-$0.01
Net income per share (in dollars per share)	$10.89	$5.49	$14.34	$4.46
Basic (in shares)	46.8M	49.6M	49.8M	49.9M
Diluted (in shares)	47.6M	50.4M	50.0M	50.0M

BREAD FINANCIAL HOLDINGS, INC. income statement, quarters

Line item	Jun 30, 2026 · Q2	Mar 31, 2026 · Q1	Sep 30, 2025 · Q3	Jun 30, 2025 · Q2
Interest and fees on loans	$1.2B	$1.2B	$1.2B	$1.1B
Interest on cash and investment securities	$39.0M	$36.0M	$44.0M	$46.0M
Total interest income	$1.2B	$1.3B	$1.2B	$1.2B
Interest on deposits	$139.0M	$133.0M	$139.0M	$139.0M
Interest on borrowings	$56.0M	$60.0M	$71.0M	$81.0M
Total interest expense	$195.0M	$193.0M	$210.0M	$220.0M
Net interest income	$1.0B	$1.1B	$1.0B	$974.0M
Interchange revenue, net of retailer share arrangements	($110.0M)	($107.0M)	($111.0M)	($95.0M)
Other	$64.0M	$58.0M	$50.0M	$47.0M
Total non-interest income	($46.0M)	($49.0M)	($61.0M)	($45.0M)
Total net interest and non-interest income	$993.0M	$1.0B	$971.0M	$929.0M
Provision for credit losses	$313.0M	$303.0M	$299.0M	$274.0M
Total net interest and non-interest income, after provision for credit losses	$680.0M	$715.0M	$672.0M	$655.0M
Employee compensation and benefits	$225.0M	$220.0M	$222.0M	$212.0M
Card and processing expenses	$81.0M	$80.0M	$81.0M	$81.0M
Information processing and communication	$80.0M	$76.0M	$72.0M	$77.0M
Marketing expenses	$36.0M	$35.0M	$38.0M	$34.0M
Depreciation and amortization	$19.0M	$19.0M	$20.0M	$20.0M
Other	$42.0M	$42.0M	$43.0M	$57.0M
Total non-interest expenses	$483.0M	$472.0M	$476.0M	$481.0M
Income from continuing operations before income taxes	$197.0M	$243.0M	$196.0M	$174.0M
Provision for income taxes	$51.0M	$62.0M	$8.0M	$35.0M
Income from continuing operations	$146.0M	$181.0M	$188.0M	$139.0M
Loss from discontinued operations, net of income taxes	$0	$0	$0	$0
Net income	$146.0M	$181.0M	$188.0M	$139.0M
Dividends declared to preferred stockholders	($2.0M)	($2.0M)	—	—
Net income available to common stockholders	$144.0M	$179.0M	—	—
Income from continuing operations (in dollars per share)	$3.62	$4.19	$4.04	$2.96
Net income per share (in dollars per share)	$3.62	$4.19	$4.04	$2.97
Income from continuing operations (in dollars per share)	$3.55	$4.15	$3.96	$2.93
Income (loss) from discontinued operations (in dollars per share)	$0.00	$0.00	$0.00	$0.01
Net income per share (in dollars per share)	$3.55	$4.15	$3.96	$2.94
Basic (in shares)	39.9M	42.8M	46.5M	46.7M
Diluted (in shares)	40.7M	43.2M	47.5M	47.2M

Balance sheet

BREAD FINANCIAL HOLDINGS, INC. balance sheet, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Cash and cash equivalents	$3.6B	$3.7B	$3.6B	$3.9B
Total credit card and other loans (includes loans available to settle obligations of consolidated variable interest entities: 2025, $10,708; 2024, $12,408)	$18.8B	$18.9B	—	—
Allowance for credit losses	($2.1B)	($2.2B)	($2.3B)	($2.5B)
Credit card and other loans, net	$16.7B	$16.7B	$17.0B	$18.9B
Investments (includes investment securities carried at fair value: 2025, $221; 2024, $217)	$284.0M	$266.0M	$253.0M	$221.0M
Property and equipment, net	$117.0M	$142.0M	$167.0M	$195.0M
Goodwill and intangible assets, net	$716.0M	$746.0M	$762.0M	$799.0M
Other assets	$1.2B	$1.4B	$1.4B	$1.4B
Total assets	$22.7B	$22.9B	$23.1B	$25.4B
Deposits	$13.9B	$13.1B	$13.6B	$13.8B
Debt issued by consolidated variable interest entities	$3.4B	$4.6B	$3.9B	$6.1B
Long-term and other debt	$886.0M	$999.0M	$1.4B	$1.9B
Other liabilities	$1.1B	$1.2B	$1.3B	$1.3B
Total liabilities	$19.3B	$19.8B	$20.2B	$23.1B
Preferred stock, $0.01 par value; authorized, 75.0 thousand shares; issued and outstanding: 2025, 75.0 thousand shares; 2024, no shares	0	—	—	—
Common stock, $0.01 par value; authorized, 200.0 million shares; issued and outstanding: 2025, 44.1 million shares; 2024, 49.1 million shares	0	1.0M	1.0M	1.0M
Additional paid-in capital	$1.9B	$2.1B	$2.2B	$2.2B
Retained earnings	$1.5B	$999.0M	$767.0M	$93.0M
Accumulated other comprehensive loss	($16.0M)	($22.0M)	($19.0M)	($21.0M)
Total stockholders’ equity	$3.3B	$3.1B	$2.9B	$2.3B
Total liabilities and stockholders’ equity	$22.7B	$22.9B	$23.1B	$25.4B

BREAD FINANCIAL HOLDINGS, INC. balance sheet, quarters

Line item	Jun 30, 2026	Mar 31, 2026	Sep 30, 2025	Jun 30, 2025
Cash and cash equivalents	$3.7B	$3.6B	$3.8B	$3.8B
Total credit card and other loans (includes loans available to settle obligations of consolidated variable interest entities: June 30, 2026, $10,034; December 31, 2025, $10,708)	$18.5B	$18.1B	$17.7B	$17.7B
Allowance for credit losses	($2.1B)	($2.1B)	($2.1B)	($2.1B)
Credit card and other loans, net	$16.4B	$16.1B	$15.6B	$15.6B
Investments (includes investment securities carried at fair value: June 30, 2026, $218; December 31, 2025, $221)	$288.0M	$286.0M	$284.0M	$277.0M
Property and equipment, net	$104.0M	$112.0M	$122.0M	$127.0M
Goodwill and intangible assets, net	$701.0M	$708.0M	$723.0M	$731.0M
Other assets	$1.3B	$1.5B	$1.2B	$1.3B
Total assets	$22.5B	$22.3B	$21.7B	$21.8B
Deposits	$14.7B	$14.1B	$13.5B	$13.3B
Debt issued by consolidated variable interest entities	$2.4B	$3.0B	$2.7B	$3.1B
Long-term and other debt	$838.0M	$837.0M	$1.1B	$1.1B
Other liabilities	$1.1B	$1.0B	$1.1B	$1.1B
Total liabilities	$19.1B	$19.0B	$18.4B	$18.7B
Preferred stock, $0.01 par value; authorized, 210.0 thousand shares; issued and outstanding: 210.0 thousand shares as of June 30, 2026 and 75.0 thousand shares as of December 31, 2025	0	0	—	—
Common stock, $0.01 par value; authorized, 200.0 million shares; issued and outstanding: 38.7 million shares as of June 30, 2026 and 44.1 million shares as of December 31, 2025.	0	0	1.0M	1.0M
Additional paid-in capital	$1.6B	$1.7B	$1.9B	$1.9B
Retained earnings	$1.8B	$1.6B	$1.4B	$1.3B
Accumulated other comprehensive loss	($17.0M)	($17.0M)	($16.0M)	($19.0M)
Total stockholders’ equity	$3.4B	$3.3B	$3.3B	$3.2B
Total liabilities and stockholders’ equity	$22.5B	$22.3B	$21.7B	$21.8B

Cash flow statement

BREAD FINANCIAL HOLDINGS, INC. cash flow statement, fiscal years

Line item	Dec 31, 2025 · FY	Dec 31, 2024 · FY	Dec 31, 2023 · FY	Dec 31, 2022 · FY
Net income	$518.0M	$277.0M	$718.0M	$223.0M
Provision for credit losses	$1.2B	$1.4B	$1.2B	$1.6B
Depreciation and amortization	$80.0M	$90.0M	$116.0M	$113.0M
Deferred income taxes	$90.0M	($85.0M)	($68.0M)	($245.0M)
Non-cash stock-based compensation	$56.0M	$54.0M	$44.0M	$33.0M
Amortization of deferred financing costs	$16.0M	$21.0M	$26.0M	$24.0M
Amortization of deferred origination costs	$75.0M	$92.0M	$92.0M	$86.0M
Gain on portfolio sale	($3.0M)	($11.0M)	($230.0M)	—
Loss on debt extinguishment	$74.0M	—	—	—
Change in other assets	$57.0M	$42.0M	$28.0M	($134.0M)
Change in other liabilities	($96.0M)	($109.0M)	$0	$87.0M
Net cash provided by operating activities	$2.1B	$1.9B	$2.0B	$1.8B
Change in credit card and other loans	($1.3B)	($840.0M)	($1.2B)	($3.2B)
Proceeds from sale of credit card loan portfolios	$0	$101.0M	$2.5B	$0
Purchases of credit card loan portfolios	$0	($377.0M)	($473.0M)	($1.8B)
Purchases of investments	($22.0M)	($31.0M)	($50.0M)	($43.0M)
Maturities of investments	$20.0M	$14.0M	$14.0M	$30.0M
Other, including capital expenditures	($24.0M)	($36.0M)	($48.0M)	($4.0M)
Net cash provided by investing activities	($1.4B)	($1.2B)	$788.0M	($5.1B)
Unsecured borrowings under debt agreements	$900.0M	$300.0M	$1.4B	$218.0M
Repayments/maturities of unsecured borrowings under debt agreements	($1.1B)	($894.0M)	($1.9B)	($319.0M)
Debt issued by consolidated variable interest entities	$925.0M	$2.4B	$2.6B	$4.2B
Repayments/maturities of debt issued by consolidated variable interest entities	($2.1B)	($1.7B)	($4.8B)	($3.6B)
Net increase (decrease) in deposits	$835.0M	($541.0M)	($209.0M)	$2.8B
Payment of deferred financing costs	($24.0M)	($15.0M)	($63.0M)	($13.0M)
Net proceeds from the issuance of preferred stock	$71.0M	—	—	—
Repurchases of common stock	($313.0M)	($55.0M)	($35.0M)	—
Dividends and dividend equivalent rights paid	($42.0M)	—	—	—
Payment of Capped Call transactions	$0	$0	($39.0M)	—
Other	($17.0M)	($26.0M)	$32.0M	$67.0M
Net cash used in financing activities	($807.0M)	($592.0M)	($3.1B)	$3.3B
Change in cash, cash equivalents and restricted cash	($86.0M)	$98.0M	($311.0M)	$4.0M
Cash, cash equivalents and restricted cash at beginning of period	$3.7B	$3.6B	$3.9B	$3.9B
Cash, cash equivalents and restricted cash at end of period	$3.6B	$3.7B	$3.6B	$3.9B
Cash paid during the year for interest	$868.0M	$922.0M	$861.0M	$466.0M
Total income taxes paid during the year, net of refunds (1)	$53.0M	$227.0M	$292.0M	$338.0M
Cash and cash equivalents	$3.6B	$3.7B	$3.6B	—
Restricted cash included within Other Assets	$24.0M	$35.0M	$26.0M	—
Total cash, cash equivalents and restricted cash	$3.6B	$3.7B	$3.6B	—

BREAD FINANCIAL HOLDINGS, INC. cash flow statement, quarters

Line item	Jun 30, 2026 · YTD	Mar 31, 2026 · Q1	Sep 30, 2025 · YTD	Jun 30, 2025 · YTD
Net income	$328.0M	$181.0M	$464.0M	$276.0M
Provision for credit losses	$616.0M	$303.0M	$869.0M	$570.0M
Depreciation and amortization	$37.0M	$19.0M	$61.0M	$42.0M
Deferred income taxes	$8.0M	$12.0M	$95.0M	$17.0M
Non-cash stock-based compensation	$31.0M	$15.0M	$41.0M	$28.0M
Amortization of deferred financing costs	$8.0M	$4.0M	$12.0M	$8.0M
Amortization of deferred origination costs	$36.0M	$18.0M	$57.0M	$38.0M
Originations of loans held-for-sale	($387.0M)	—	—	—
Proceeds from sales and paydowns of loans held-for-sale	$370.0M	—	—	—
Change in other assets	$15.0M	$11.0M	$53.0M	$53.0M
Change in other liabilities	($46.0M)	($84.0M)	($131.0M)	($118.0M)
Other	$4.0M	$8.0M	($13.0M)	$5.0M
Net cash provided by operating activities	$1.0B	$487.0M	$1.5B	$919.0M
Change in credit card and other loans	($343.0M)	$328.0M	$156.0M	$487.0M
Purchases of investments	($10.0M)	($8.0M)	($20.0M)	($15.0M)
Maturities of investments	$9.0M	$4.0M	$16.0M	$10.0M
Other, including capital expenditures	($11.0M)	($7.0M)	($20.0M)	($12.0M)
Net cash (used in) provided by investing activities	($355.0M)	$317.0M	$132.0M	$470.0M
Unsecured borrowings under debt agreements	$0	$0	$400.0M	$400.0M
Repayments/maturities of unsecured borrowings under debt agreements	($51.0M)	($51.0M)	($312.0M)	($272.0M)
Debt issued by consolidated variable interest entities	$150.0M	$25.0M	$25.0M	$0
Repayments/maturities of debt issued by consolidated variable interest entities	($1.1B)	($407.0M)	($1.9B)	($1.5B)
Net increase in deposits	$815.0M	$157.0M	$454.0M	$258.0M
Payment of deferred financing costs	($1.0M)	$0	($13.0M)	($10.0M)
Net proceeds from the issuance of preferred stock	$130.0M	—	—	—
Repurchases of common stock	($396.0M)	($153.0M)	($190.0M)	($150.0M)
Dividends and dividend equivalent rights paid	($25.0M)	($14.0M)	—	—
Other	($30.0M)	($32.0M)	($21.0M)	($19.0M)
Net cash used in financing activities	($534.0M)	($475.0M)	($1.6B)	($1.3B)
Change in cash, cash equivalents and restricted cash	$131.0M	$329.0M	$65.0M	$104.0M
Cash, cash equivalents and restricted cash at beginning of period	$3.6B	$3.6B	$3.7B	$3.7B
Cash, cash equivalents and restricted cash at end of period	$3.8B	$4.0B	$3.8B	$3.8B
Cash and cash equivalents	$3.7B	$3.6B	$3.8B	$3.8B
Restricted cash included within Other assets	$76.0M	$320.0M	$15.0M	$19.0M
Total cash, cash equivalents and restricted cash	$3.8B	$4.0B	$3.8B	$3.8B

BREAD FINANCIAL HOLDINGS, INC. score and earnings-call analysis · All covered companies

Figures as reported in SEC filings. General information, not investment advice.