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BREAD FINANCIAL HOLDINGS INC

For the period ended Dec 31, 2023. Filed Feb 20, 2024.

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About this filing

A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.

FY2023 · Filed Feb 20, 2024

BFH$98.61-3.2%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Table of Contents

Cautionary Note Regarding Forward-Looking Statements1
PART I
1.Business3
1A.Risk Factors20
1B.Unresolved Staff Comments47
1C.Cybersecurity47
2.Properties49
3.Legal Proceedings49
4.Mine Safety Disclosures49
PART II
5.Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities50
6.[RESERVED]51
7.Management’s Discussion and Analysis of Financial Condition and Results of Operations52
7A.Quantitative and Qualitative Disclosures About Market Risk72
8.Financial Statements and Supplementary Data72
9.Changes in and Disagreements with Accountants on Accounting and Financial Disclosure73
9A.Controls and Procedures73
9B.Other Information73
9C.Disclosure Regarding Foreign Jurisdictions that Prevent Inspections74
PART III
10.Directors, Executive Officers and Corporate Governance75
11.Executive Compensation75
12.Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters75
13.Certain Relationships and Related Transactions, and Director Independence75
14.Principal Accounting Fees and Services75
PART IV
15.Exhibits, Financial Statement Schedules76

This report includes trademarks, such as Bread®, Bread Cashback™, 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”, the “Company”, “we”, “our” or “us” refer to Bread Financial Holdings, Inc. and our 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 primarily through our insured depository institution subsidiaries, Comenity Bank and Comenity Capital Bank, which together are referred to herein as the “Banks”. Bread Financial is also used in this report to include references to transactions and arrangements occurring prior to our name change from Alliance Data Systems Corporation to Bread Financial Holdings, Inc. in March 2022.

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.