Discover 2011 Annual Report Download - page 54

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Discover Financial Services
Selected Financial Data
Statement of Income Data:
Interest income
Interest expense
Net interest income
Other income(2)
Revenue net of interest expense
Provision for loan losses
Other expense
Income before income tax expense
Income tax expense
Income from continuing operations
Loss from discontinued operations, net of tax(3)
Net income(2)
Net income allocated to common stockholders
Statement of Financial Condition Data (as of):
Loan receivables(4)
Total assets
Total stockholders' equity
Allowance for loan losses
Long-term borrowings
Per Share of Common Stock:
Basic EPS from continuing operations
Diluted EPS from continuing operations
Weighted average shares outstanding (000's)(5)
Weighted average shares outstanding
(fully diluted) (000's)(5)
Cash dividends declared
Dividend payout ratio
Ratios:
Return on average equity
Return on average assets
Average stockholders' equity to average total assets
For the Years Ended November 30,
2011(1)
(dollars in thousands, except per share amounts)
$ 6,345,139
1,484,552
4,860,587
2,205,174
7,065,761
1,013,350
2,541,167
3,511,244
1,284,536
2,226,708
—
$ 2,226,708
$ 2,201,759
$ 57,336,935
$ 68,783,937
$ 8,242,211
$ 2,205,196
$ 18,287,178
$ 4.06
$ 4.06
541,813
542,626
$ 0.20
4.92%
30%
3%
12%
2010(1)
$ 6,146,218
1,582,988
4,563,230
2,094,999
6,658,229
3,206,705
2,182,665
1,268,859
504,071
764,788
—
$ 764,788
$ 667,938
$ 48,836,413
$ 60,784,968
$ 6,456,846
$ 3,304,118
$ 17,705,728
$ 1.23
$ 1.22
544,058
548,760
$ 0.08
6.52%
12%
1%
11%
2009
$ 3,145,080
1,251,284
1,893,796
4,840,595
6,734,391
2,362,405
2,251,088
2,120,898
844,713
1,276,185
—
$ 1,276,185
$ 1,206,965
$ 23,625,084
$ 46,020,987
$ 8,435,547
$ 1,757,899
$ 2,428,101
$ 2.39
$ 2.38
504,540
507,907
$ 0.12
5.02%
17%
3%
18%
2008
$ 2,692,563
1,288,004
1,404,559
4,264,458
5,669,017
1,595,615
2,415,797
1,657,605
594,692
1,062,913
(135,163)
$ 927,750
$ 910,510
$ 25,216,611
$ 39,892,382
$ 5,915,823
$ 1,374,585
$ 1,735,383
$ 2.18
$ 2.18
479,335
479,357
$ 0.24
11.01%
16%
3%
15%
2007
$ 2,584,402
1,223,270
1,361,132
3,376,682
4,737,814
733,887
2,478,214
1,525,713
561,514
964,199
(375,569)
$ 588,630
$ 572,480
$ 20,831,117
$ 37,376,105
$ 5,599,422
$ 759,925
$ 2,134,093
$ 1.99
$ 1.98
477,328
477,988
$ 0.06
3.02%
10%
2%
15%
(1) Amounts as of and for the years ended November 30, 2011 and 2010 include securitized loans as a result of the consolidation of the securitization trusts related to a change in
accounting principle on December 1, 2009. Amounts prior to December 1, 2009 do not include securitized loans.
(2) The years ended November 30, 2009 and 2008 include $1.9 billion pretax ($1.2 billion after tax) and $0.9 billion pretax ($0.5 billion after tax), respectively, of income related
to the Visa and MasterCard antitrust litigation settlement, which is included in our Direct Banking segment.
(3) 2007 includes a $391 million pretax ($279 million after tax) non-cash impairment charge to write-down the intangible assets and goodwill of the Goldfish business, which
was sold on March 31, 2008.
(4) 2011 includes $3.1 billion of student loan receivables acquired with the SLC acquisition and $2.4 billion of student loan receivables acquired from Citibank, N.A.
(5) On June 30, 2007, Morgan Stanley distributed to Morgan Stanley stockholders one share of our common stock for every two shares of Morgan Stanley common stock held on
June 18, 2007. As a result, on July 2, 2007, we had 477,235,927 shares of common stock outstanding and this share amount is being utilized for the calculation of basic
earnings per share (“EPS”) for all periods presented prior to the date of the spin-off. For all periods prior to the spin-off date, the same number of shares is being used for
diluted EPS as for basic EPS as none of our common stock was traded prior to July 2, 2007 and none of our equity awards were outstanding for the prior periods.
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