Bread Financial Files 2024 10-K

TL;DR

Bread Financial dropped its 2024 10-K. All eyes on 2025.

AI Summary

Bread Financial Holdings, Inc. filed its 2024 10-K on February 14, 2025, reporting on its fiscal year ending December 31, 2024. The company, formerly Alliance Data Systems Corp, operates in personal credit institutions. Key financial data and operational details for the fiscal year 2024 are presented in this filing.

Why It Matters

This filing provides a comprehensive overview of Bread Financial's financial health and business operations for the past fiscal year, crucial for investors and analysts assessing the company's performance and future prospects.

Risk Assessment

Risk Level: medium — The filing is a standard annual report and does not inherently indicate new risks beyond those typical for a financial services company.

Key Numbers

• 2024 — Fiscal Year (Reporting period for the 10-K)
• 2023 — Previous Fiscal Year (For comparative analysis)
• 2022 — Prior Fiscal Year (For trend analysis)

Key Players & Entities

• BREAD FINANCIAL HOLDINGS, INC. (company) — Filer
• ALLIANCE DATA SYSTEMS CORP (company) — Former company name
• COLUMBUS (location) — Business and mailing address city
• OH (location) — Business and mailing address state
• 3095 LOYALTY CIRCLE (address) — Business and mailing address street
• 43219 (zip_code) — Business and mailing address zip
• 6147294000 (phone_number) — Business phone number
• 20241231 (date) — Fiscal year end
• 20250214 (date) — Filing date

FAQ

Key Financial Figures

• $0.01 — ich registered Common stock, par value $0.01 per share BFH New York Stock Exchange
• $44.56 — lion, based upon the closing sale price $44.56 as reported on the New York Stock Excha
• $17.4 billion — onment. As of December 31, 2024, we had $17.4 billion in principal on our Credit card and oth
• $975 — for the year ended December 31, 2024 of $975 for accounts with outstanding balances.
• $738 — for the year ended December 31, 2024 of $738; although, we do offer "big ticket" fin
• $1,840 — or the year ended December 31, 2024 was $1,840. For the year ended December 31, 2024,
• $2,317 — or the year ended December 31, 2024 was $2,317. Bread Pay Bread Pay is our payment

Filing Documents

• bfh-20241231.htm (10-K) — 3310KB
• bfh-12312024xexx10100.htm (EX-10.100) — 29KB
• bfh-12312024xexx10103.htm (EX-10.103) — 29KB
• bfh-12312024xexx10105.htm (EX-10.105) — 36KB
• bfh-12312024xexx10107.htm (EX-10.107) — 29KB
• bfh-12312024xexx10109.htm (EX-10.109) — 29KB
• bfh-12312024xexx10112.htm (EX-10.112) — 36KB
• bfh-12312024xexx10124.htm (EX-10.124) — 38KB
• bfh-12312024xexx10130.htm (EX-10.130) — 478KB
• bfh-12312024xexx10132.htm (EX-10.132) — 227KB
• bfh-12312024xexx10133.htm (EX-10.133) — 32KB
• bfh-12312024xexx10134.htm (EX-10.134) — 405KB
• bfh-12312024xexx10135.htm (EX-10.135) — 32KB
• bfh-12312024xexx19.htm (EX-19) — 106KB
• bfh-12312024xexx21.htm (EX-21) — 11KB
• bfh-12312023xexx231.htm (EX-23.1) — 4KB
• bfh-12312024xexx311.htm (EX-31.1) — 11KB
• bfh-12312024xexx312.htm (EX-31.2) — 11KB
• bfh-12312024xexx321.htm (EX-32.1) — 5KB
• bfh-12312024xexx322.htm (EX-32.2) — 5KB
• bfh-12312024xexx97.htm (EX-97) — 56KB
• bfh-20241231_g1.jpg (GRAPHIC) — 82KB
• bfh-20241231_g2.jpg (GRAPHIC) — 1059KB
• bfh-20241231_g3.jpg (GRAPHIC) — 140KB
• image_0.jpg (GRAPHIC) — 14KB
• image_01.jpg (GRAPHIC) — 14KB
• image_18.jpg (GRAPHIC) — 0KB
• image_1a.jpg (GRAPHIC) — 0KB
• image_7.jpg (GRAPHIC) — 0KB
• 0001101215-25-000031.txt ( ) — 19299KB
• bfh-20241231.xsd (EX-101.SCH) — 103KB
• bfh-20241231_cal.xml (EX-101.CAL) — 165KB
• bfh-20241231_def.xml (EX-101.DEF) — 418KB
• bfh-20241231_lab.xml (EX-101.LAB) — 1113KB
• bfh-20241231_pre.xml (EX-101.PRE) — 778KB
• bfh-20241231_htm.xml (XML) — 2250KB

Risk Factors

Risk Factors 21 1B. Unresolved Staff Comments 51 1 C. C ybersecurity 51 2.

Properties

Properties 52 3 .

Legal Proceedings

Legal Proceedings 52 4 . Mine Safety Disclosures 52 PART II 5 . Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 53 6. [RESERVED] 54 7 .

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 55 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 79 8 .

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 79 9 . Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 79 9A.

Controls and Procedures

Controls and Procedures 79 9B. Other Information 80 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 80 PART III 10. Directors, Executive Officers and Corporate Governance 81 11 .

Executive Compensation

Executive Compensation 81 12 .

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 81 13 . Certain Relationships and Related Transactions, and Director Independence 81 14 . Principal Accounting Fees and Services 81 PART IV 15. Exhibits and Financial Statement Schedules 82 16. Form 10-K Summary 94 Table of Contents This report includes trademarks, such as Bread , Bread Financial , Bread Cashback , Bread Rewards, Bread Pay and Bread Savings , which are protected under applicable intellectual property laws and are the property of Bread Financial Holdings, Inc. or our subsidiaries. This report also contains trademarks, service marks, copyrights and trade names of other companies, which are the property of their respective owners. Solely for convenience, our trademarks and trade names referred to in this report may appear without the or symbols, but such references are not intended to indicate, in any way, that we will not assert, to the fullest extent under applicable law, our rights or the right of the applicable licensor to these trademarks and trade names. Throughout this report, unless stated or the context implies otherwise, the terms "Bread Financial", "BFH", the "Company", "we", "our" or "us" refer to Bread Financial Holdings, Inc. and its subsidiaries on a consolidated basis. References to "Parent Company" refer to Bread Financial Holdings, Inc. on a parent-only standalone basis. In addition, in this report we may refer to the retailers and other companies with whom we do business as our "partners", "brand partners", or "clients", provided that the use of the term "partner", "partnering" or any similar term does not mean or imply a formal legal partnership, and is not meant in any way to alter the terms of Bread Financial's relationship with any third parties. We offer our credit products through our insured depository institution subsidiaries, Comenity Bank and Comenity Capital Bank, which together are referred to herein as

Business

Item 1. Business. We are a tech-forward financial services company that provides simple, personalized payment, lending, and saving solutions to millions of U.S. consumers. Our payment solutions, including Bread Financial general purpose credit cards and savings products, empower our customers and their passions for a better life. Additionally, we deliver growth for some of the most recognized brands in travel & entertainment, health & beauty, jewelry and specialty apparel through our private label and co-brand credit cards and pay-over-time products providing choice and value to our shared customers. Our partner base consists of large consumer-based businesses, including well-known brands such as (alphabetically) AAA, Academy Sports + Outdoors, Caesars, Dell Technologies, Hard Rock International, the NFL, Saks Fifth Avenue, Signet, Ulta and Victoria's Secret, as well as small- and medium-sized businesses (SMBs). Our partner base is well diversified across a broad range of industries and retail verticals, including travel and entertainment, health and beauty, jewelry, sporting goods, technology and electronics, home goods and the industry in which we first began, specialty apparel. We believe our comprehensive suite of payment, lending and saving solutions, along with our related marketing and data and analytics, offers us a significant competitive advantage with products relevant across all customer segments (Gen Z, Millennial, Gen X and Baby Boomers). The breadth and quality of our product and service offerings, coupled with our customer-centric approach, have enabled us to establish and maintain long-standing partner relationships. We operate our business through a single reportable segment, with our primary source of revenue being from Interest and fees on loans from our various credit card and other loan products, and to a lesser extent from contractual relationships with our brand partners. With our range of offerings, we provide relevant products across

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View this 10-K filing on SEC EDGAR