The company acquired Ally Lending for $2.0 billion in cash, deepening its presence in the home improvement sector. Simultaneously, Pets Best was sold, resulting in a gain of $1.1 billion, or $802 million net of tax. These actions reflect a strategic focus on core business lines.

Synchrony added or renewed agreements with over 90 partners, including Bel Furniture and Virgin Red. This indicates continued efforts to grow and diversify its sales platforms and customer reach.

New technology partnerships with Adit Practice Management Software and ServiceTitan aim to expand customer access to Synchrony's credit products. This suggests a focus on leveraging technology to improve customer acquisition and experience.

Approximately 57% of consumer credit card applications were made via online or mobile channels, and over 75% of consumer credit card accounts with an outstanding balance had activated digital account servicing capabilities. This indicates successful execution in enhancing digital capabilities and customer engagement.

90% of Synchrony employees participated in the global engagement survey, with 95% responding that it is a great place to work. This reflects positively on management's ability to foster a positive work environment.

The company plans to increase the minimum wage to $21.50 per hour for all hourly employees in the United States effective March 1, 2025. This demonstrates a commitment to employee well-being and attracting talent.

The CFPB's final rule on credit card late fees, if implemented, would likely materially adversely affect the business and results of operations. This highlights a significant regulatory risk that could impact future profitability.

Cyber-attacks or other security breaches could have a material adverse effect on the business. This underscores the ongoing need for vigilance and investment in cybersecurity measures.

The company relies extensively on models in managing many aspects of its business, and if they are not accurate or are misinterpreted, it could have a material adverse effect on our business and results of operations. This highlights the importance of model validation and risk management.

The consumer finance industry is intensely competitive, with major financial institutions and emerging fintech companies vying for partners and customers. This highlights the need for ongoing innovation and differentiation.

Larger technology focused companies and retailers are now offering financial products sometimes in collaboration with our competitors. This increases competitive pressure and may require strategic adjustments.

Non-bank providers of pay-over-time solutions extend consumer credit-like offerings but do not face the same restrictions, such as capital requirements and other regulatory requirements, as banks, which also could place us at a competitive disadvantage. This highlights a regulatory imbalance that could impact our ability to compete.

Information processing costs increased by $91 million, or 12.8%, primarily driven by technology investments, including an increase in software licensing costs and higher amortization of capitalized software expenditures. This indicates ongoing efforts to modernize infrastructure, but at a cost.

Employee costs decreased by $12 million, or 0.6%, primarily attributable to $43 million of restructuring costs related to a voluntary early retirement program in the prior year, partially offset by costs related to the Ally Lending acquisition. This suggests some efficiency gains from prior restructuring efforts.

Other decreased by $89 million, or 11.2%, for the year ended December 31, 2024, primarily due to lower operational losses. This is a positive indicator of improved risk management and operational controls.

Other expense increased by $81 million, or 1.7%, primarily driven by technology investments, costs related to the Ally Lending acquisition and preparatory expenses related to the late fee rule change. This indicates a strategic focus on enhancing technological capabilities.

Approximately 57% of consumer credit card applications were made via online or mobile channels, and over 75% of consumer credit card accounts with an outstanding balance had activated digital account servicing capabilities. This demonstrates a strong commitment to and adoption of digital channels.

Our product suite includes Synchrony's Pay Later solution, which was offered at an expanded number of partners in 2024, including JCPenney. This reflects an ongoing effort to provide flexible payment solutions to customers.

During the year ended December 31, 2024, the company repurchased $1.0 billion of its outstanding common stock. In April 2024, the Board of Directors approved an incremental share repurchase program of up to $1.0 billion through June 30, 2025. This demonstrates a commitment to returning capital to shareholders.

The company declared and paid cash dividends of $1.00 per common share, or $398 million in the aggregate. The company also declared and paid cash dividends totaling $72 million on our Series A 5.625% fixed rate non-cumulative preferred stock and our Series B 8.250% fixed rate reset non-cumulative perpetual preferred stock. This indicates a consistent dividend policy.

The company plans to continue to deploy capital through both dividends and share repurchases, as guided by business performance, market conditions and subject to regulatory restrictions. This highlights a balanced approach to capital allocation.

At December 31, 2024, our global workforce was 61% female and 38% male. In the United States, ethnicity of our workforce was 49% White, 19% Black, 17% Hispanic, 8% Asian. This provides some insight into the company's diversity efforts.

The company plans to increase the minimum wage to $21.50 per hour for all hourly employees in the United States effective March 1, 2025. This demonstrates a commitment to employee well-being.

To support and promote employee engagement and development, we maintain eight employee resource groups that are open to all employees. This indicates a commitment to fostering an inclusive work environment.

Macroeconomic conditions could have a material adverse effect on our business, results of operations and financial condition. This highlights the sensitivity of the business to broader economic trends.

The CFPB's final rule on credit card late fees, if implemented, would likely materially adversely affect our business and results of operations. This underscores the importance of regulatory compliance and the potential impact of new regulations.

The success of our business depends on our ability to retain existing partners and attract new partners. The competition for partners is intense and highly competitive across our product set. This highlights the need for ongoing innovation and differentiation.