Discover 2011 Annual Report Download - page 98

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DISCOVER FINANCIAL SERVICES
Consolidated Statements of Financial Condition
Assets
Cash and cash equivalents
Restricted cash
Other short-term investments
Investment securities:
Available-for-sale (amortized cost of $6,019,927 and $4,989,958 at November 30, 2011 and November 30, 2010, respectively)
Held-to-maturity (fair value of $96,042 and $70,195 at November 30, 2011 and November 30, 2010, respectively)
Total investment securities
Loan receivables:
Loans held for sale
Loan portfolio:
Credit card
Other
Purchased credit-impaired loans
Total loan portfolio
Total loan receivables
Allowance for loan losses
Net loan receivables
Premises and equipment, net
Goodwill
Intangible assets, net
Other assets
Total assets
Liabilities and Stockholders’ Equity
Deposits:
Interest-bearing deposit accounts
Non-interest bearing deposit accounts
Total deposits
Short-term borrowings
Long-term borrowings
Accrued expenses and other liabilities
Total liabilities
Commitments, contingencies and guarantees (Notes 17, 20, and 21)
Stockholders’ Equity:
Common stock, par value $.01 per share; 2,000,000,000 shares authorized; 549,748,783 and 547,128,270 shares issued at November 30, 2011 and
November 30, 2010, respectively
Additional paid-in capital
Retained earnings
Accumulated other comprehensive loss
Treasury stock, at cost; 20,918,354 and 2,446,506 shares at November 30, 2011 and November 30, 2010, respectively
Total stockholders’ equity
Total liabilities and stockholders’ equity
November 30,
2011
(dollars in thousands,
except share amounts)
$ 2,849,843
1,285,820
—
6,107,831
98,222
6,206,053
714,180
46,638,625
4,733,742
5,250,388
56,622,755
57,336,935
(2,205,196)
55,131,739
483,250
255,421
188,018
2,383,793
$ 68,783,937
$ 39,463,887
113,575
39,577,462
50,000
18,287,178
2,627,086
60,541,726
5,497
3,507,754
5,243,318
(51,679)
(462,679)
8,242,211
$ 68,783,937
November 30,
2010
$ 5,098,733
1,363,758
375,000
5,002,579
72,816
5,075,395
788,101
45,156,994
2,891,318
—
48,048,312
48,836,413
(3,304,118)
45,532,295
460,732
255,421
188,973
2,434,661
$ 60,784,968
$ 34,309,839
103,544
34,413,383
—
17,705,728
2,209,011
54,328,122
5,471
3,435,318
3,126,488
(82,548)
(27,883)
6,456,846
$ 60,784,968
The table below presents the carrying amounts of certain assets and liabilities of Discover Financial Services’ consolidated variable interest entities (VIEs) which are included in the consolidated statements of financial
condition above. The assets in the table below include those assets that can only be used to settle obligations of the consolidated VIEs. The liabilities in the table below include third party liabilities of consolidated VIEs only,
and exclude intercompany balances that eliminate in consolidation. The liabilities also exclude amounts for which creditors have recourse to the general credit of the Company.
Assets
Restricted cash
Credit card loan receivables
Purchased credit-impaired loans
Allowance for loan losses allocated to securitized loan receivables
Other assets
Liabilities
Long-term borrowings
Accrued interest payable
November 30,
2011
(dollars in thousands)
$ 1,274,175
33,815,860
2,839,871
(1,510,730)
33,724
$ 15,842,512
13,184
November 30,
2010
$ 1,363,758
34,452,989
—
(2,431,399)
24,083
$ 14,919,400
11,758
See Notes to the Consolidated Financial Statements.
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