Discover 2014 Annual Report Download - page 123
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-109-
The following tables provide changes in the Company’s allowance for loan losses for the periods presented
(dollars in millions):
For the Fiscal Year Ended November 30, 2012
Credit Card Personal
Loans Student
Loans(1) Other Total
Balance at beginning of period ........................................... $2,070 $ 82 $ 53 $ — $ 2,205
Additions:
Provision for loan losses ................................................. 724 84 39 1 848
Deductions:
Charge-offs ................................................................... (1,817) (73) (19) — (1,909)
Recoveries ..................................................................... 577 4 — — 581
Net charge-offs .......................................................... (1,240) (69) (19) — (1,328)
Balance at end of period .................................................... $1,554 $ 97 $ 73 $ 1 $ 1,725
(1) Includes both PCI and non-PCI private student loans.
Net charge-offs of principal are recorded against the allowance for loan losses, as shown in the tables above.
Information regarding net charge-offs of interest and fee revenues on credit card and other loans is as follows (dollars
in millions):
For the Calendar Years Ended
December 31, For the Fiscal
Year Ended
November 30,
2012
For the One
Month Ended
December 31,
2012
2014 2013
Interest and fees accrued subsequently charged off, net of recoveries
(recorded as a reduction of interest income) ............................................ $ 283 $ 280 $ 345 $ 26
Fees accrued subsequently charged off, net of recoveries
(recorded as a reduction to other income) ............................................... $ 69 $ 59 $ 67 $ 5