Bread Financial Holdings, Inc. (NYSE:BFH) Q4 2023 Earnings Call Transcript

John Pancari: Okay. Great. Thank you.

Perry Beberman: Thank you.

Operator: Our final question today comes from John Hecht with Jefferies. Please go ahead.

John Hecht: Good morning, guys. And sorry to ask, because you have talked a lot about the late fee stuff. I appreciate the details there. But I just want to a point of clarification, because you talked about this as a revenue hit thus far, but your — the retail sharing arrangement is kind of expense net of the interchange in a different line in the P&L. Is there not some immediate offset in that design item that we should think about or are your arrangements different where they would exclude this type of revenue?

Perry Beberman: Yeah. No. That’s why we used revenue, because the retail share agreement impact happens. It’s a contra-revenue. So it’s already in there. That’s why we didn’t use net interest margin. We use revenue. So we were doing net of the retail share agreements.

John Hecht: Okay. That’s very helpful. Thanks very much.

Perry Beberman: You bet. Thank you for your question.

Ralph Andretta: Firstly, I want to thank you all for joining the call and for your interest in Bread Financial and for all your questions today. Everyone have a just a wonderful day. Take care now.

Operator: Thank you everyone for joining us today. This concludes our call and you may now disconnect your lines.