Discover 2014 Annual Report Download - page 122
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-108-
normally consist of a reduction of the minimum payment for a period of no longer than 12 months at a time. Loans in
these programs are not considered to be in forbearance.
Allowance for Loan Losses
The following tables provide changes in the Company’s allowance for loan losses for the periods presented
(dollars in millions):
For the Calendar Year Ended December 31, 2014
Credit Card Personal
Loans Student
Loans(1) Other Total
Balance at beginning of period ........................................... $1,406 $ 112 $ 113 $ 17 $ 1,648
Additions:
Provision for loan losses ................................................. 1,259 102 79 3 1,443
Deductions:
Charge-offs ................................................................... (1,636) (105) (62) (3) (1,806)
Recoveries ..................................................................... 445 11 5 — 461
Net charge-offs .......................................................... (1,191) (94) (57) (3) (1,345)
Balance at end of period .................................................... $1,474 $ 120 $ 135 $ 17 $ 1,746
For the Calendar Year Ended December 31, 2013
Credit Card Personal
Loans Student
Loans(1) Other Total
Balance at beginning of period ........................................... $1,613 $ 99 $ 75 $ 1 $ 1,788
Additions:
Provision for loan losses ................................................. 893 92 84 17 1,086
Deductions:
Charge-offs ................................................................... (1,604) (86) (48) (1) (1,739)
Recoveries ..................................................................... 504 7 2 — 513
Net charge-offs .......................................................... (1,100) (79) (46) (1) (1,226)
Balance at end of period .................................................... $1,406 $ 112 $ 113 $ 17 $ 1,648
For the One Month Ended December 31, 2012
Credit Card Personal
Loans Student
Loans(1) Other Total
Balance at beginning of period ........................................... $1,554 $ 97 $ 73 $ 1 $ 1,725
Additions:
Provision for loan losses ................................................. 165 9 4 — 178
Deductions:
Charge-offs ................................................................... (146) (8) (2) — (156)
Recoveries ..................................................................... 40 1 — — 41
Net charge-offs .......................................................... (106) (7) (2) — (115)
Balance at end of period .................................................... $1,613 $ 99 $ 75 $ 1 $ 1,788