Discover 2010 Annual Report Download - page 158
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26. Parent Company Condensed Financial Information
The following Parent Company financial statements are provided in accordance with SEC Regulation S-X, which
requires all issuers or guarantors of registered securities to include separate annual financial statements.
Discover Financial Services
(Parent Company Only)
Condensed Statements of Financial Condition
November 30,
2010 2009
(dollars in thousands)
Assets
Cash and cash equivalents ............................................................................................................................................. $ 367 $ 1,035,606
Restricted cash ............................................................................................................................................................. 0 643,311
Notes receivable from subsidiaries .................................................................................................................................. 764,626 1,808,339
Investments in subsidiaries.............................................................................................................................................. 6,372,290 6,800,332
Other assets................................................................................................................................................................. 347,512 389,727
Total assets............................................................................................................................................................... $7,484,795 $10,677,315
Liabilities and Stockholders’ Equity
Non-interest bearing deposit accounts.............................................................................................................................. $ 2,543 $ 1,685
Other long-term borrowings ........................................................................................................................................... 791,579 1,199,385
Special dividend – Morgan Stanley ................................................................................................................................. 0 808,757
Accrued expenses and other liabilities.............................................................................................................................. 233,827 231,941
Total liabilities........................................................................................................................................................... 1,027,949 2,241,768
Stockholders’ equity ................................................................................................................................................... 6,456,846 8,435,547
Total liabilities and stockholders’ equity......................................................................................................................... $7,484,795 $10,677,315
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