Discover 2011 Annual Report Download - page 120
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108
Information related to the delinquencies and net charge-offs in the Company’s loan portfolio, which excludes loans held
for sale, is shown below by each class of loan receivables except for PCI student loans, which is shown under the heading
“Purchased Credit-Impaired Loans” (dollars in thousands):
Delinquent and Non-Accruing Loans:
At November 30, 2011
Credit card loans:
Discover card(1)
Discover business card
Total credit card loans
Other consumer loans:
Personal loans
Private student loans (excluding PCI)
Other
Total other consumer loans (excluding PCI)
Total loan receivables (excluding PCI)(3)
At November 30, 2010
Total loan receivables(1)
30-89 Days
Delinquent
$ 554,354
2,823
557,177
15,604
10,073
507
26,184
$ 583,361
$ 908,306
90 or
More Days
Delinquent
$ 556,126
3,548
559,674
7,362
2,992
2,091
12,445
$ 572,119
$ 993,618
Total Past
Due
$ 1,110,480
6,371
1,116,851
22,966
13,065
2,598
38,629
$ 1,155,480
$ 1,901,924
90 or
More Days
Delinquent
and
Accruing
$ 498,305
3,335
501,640
6,636
2,883
—
9,519
$ 511,159
$ 853,757
Total
Non-accruing(2)
$ 200,208
860
201,068
3,628
125
2,317
6,070
$ 207,138
$ 325,900
(1) Consumer credit card loans that are 90 or more days delinquent and accruing interest include $37.9 million and $35 million of loans accounted for as
troubled debt restructurings at November 30, 2011 and November 30, 2010, respectively.
(2) The Company estimates that the gross interest income that would have been recorded in accordance with the original terms of these loans was $44.7
million for the year ended November 30, 2011. The Company does not separately track the amount of gross interest income that would have been
recorded in accordance with the original terms of loans. These amounts were estimated based on customers' current balances and most recent rates.
(3) Amount also excludes federal student loans that are held for sale.
Net Charge-Offs:
Credit card loans:
Discover card
Discover business card
Total credit card loans
Other consumer loans:
Personal loans
Private student loans (excluding PCI) (1)
Other
Total other consumer loans (excluding PCI)
Net charge-offs as a percentage of total loans (excluding PCI)
Net charge-offs as a percentage of total loans (including PCI)
For the Year Ended
November 30, 2011
Net
Charge-offs
$ 2,018,331
17,512
2,035,843
67,288
7,830
1,311
76,429
$ 2,112,272
$ 2,112,272
Net Charge-off
Rate
4.49%
7.41%
4.50%
3.02%
0.48%
9.27%
1.65%
4.24%
3.99%
(1) The private student loan charge-off rate is calculated as net charge-offs as a percentage of private student loans in repayment.
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