Discover 2009 Annual Report Download - page 156
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27. Parent Company Condensed Financial Information
The following Parent Company financial statements are provided in accordance with SEC Regulation S-X, which
requires all issuers or guarantors of registered securities to include separate annual financial statements.
Discover Financial Services
(Parent Company Only)
Condensed Statements of Financial Condition
November 30,
2009 2008
(dollars in thousands)
Assets
Cash and cash equivalents ............................................................................................................................................. $ 1,035,606 $ 586,601
Interest-earning time deposits due from subsidiary ............................................................................................................. — 4,032
Restricted cash ............................................................................................................................................................. 643,311 —
Notes receivable from subsidiaries .................................................................................................................................. 1,808,339 913,473
Investments in subsidiaries.............................................................................................................................................. 6,800,332 4,965,266
Premises and equipment, net .......................................................................................................................................... — 3
Other assets................................................................................................................................................................. 389,727 834,302
Total assets............................................................................................................................................................... $10,677,315 $7,303,677
Liabilities and Stockholders’ Equity
Non-interest bearing deposit accounts.............................................................................................................................. $ 1,685 $ 8,004
Long-term borrowings ................................................................................................................................................... 1,199,385 799,304
Special dividend – Morgan Stanley ................................................................................................................................. 808,757 473,000
Accrued expenses and other liabilities.............................................................................................................................. 231,941 107,546
Total liabilities........................................................................................................................................................... 2,241,768 1,387,854
Stockholders’ equity ................................................................................................................................................... 8,435,547 5,915,823
Total liabilities and stockholders’ equity......................................................................................................................... $10,677,315 $7,303,677
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