Discover 2009 Annual Report Download - page 124

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The tables below present quantitative information about delinquencies, net principal charge-offs and components of
managed credit card loans, which includes owned and securitized credit card loans (dollars in millions):
November 30,
2009 2008
Loans Outstanding:
Managed credit card loans .................................................................................................................................................... $47,465 $49,693
Less: Securitized credit card loans ........................................................................................................................................... 27,235 25,879
Owned credit card loans........................................................................................................................................................ $20,230 $23,814
Loans Over 30 Days Delinquent:
Managed credit card loans .................................................................................................................................................... $ 2,657 $ 2,317
Less: Securitized credit card loans ........................................................................................................................................... 1,540 1,234
Owned credit card loans........................................................................................................................................................ $ 1,117 $ 1,083
For the Years Ended
November 30,
2009 2008
Average Loans:
Managed credit card loans .................................................................................................................................................... $48,855 $48,230
Less: Securitized credit card loans ........................................................................................................................................... 24,588 27,663
Owned credit card loans........................................................................................................................................................ $24,267 $20,567
Net Principal Charge-offs:
Managed credit card loans .................................................................................................................................................... $ 3,907 $ 2,446
Less: Securitized credit card loans ........................................................................................................................................... 1,996 1,473
Owned credit card loans........................................................................................................................................................ $ 1,911 $ 973
7. Premises and Equipment
A summary of premises and equipment, net is as follows (dollars in thousands):
November 30,
2009 2008
Land............................................................................................................................................................................. $ 41,816 $ 43,201
Buildings and improvements ............................................................................................................................................. 494,511 510,302
Capitalized equipment leases ........................................................................................................................................... 7,132 7,924
Furniture, fixtures and equipment ...................................................................................................................................... 490,594 490,178
Software ....................................................................................................................................................................... 276,298 250,376
Premises and equipment ............................................................................................................................................... 1,310,351 1,301,981
Less: Accumulated depreciation ........................................................................................................................................ (593,295) (550,582)
Less: Accumulated amortization of software ........................................................................................................................ (223,871) (198,897)
Premises and equipment held for investment, net .............................................................................................................. 493,185 552,502
Premises and equipment held for sale, net ....................................................................................................................... 6,118 —
Total premises and equipment, net .............................................................................................................................. $ 499,303 $ 552,502
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