Discover 2010 Annual Report Download - page 4

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Direct Banking
Discover is one of the largest credit card issuers in the United States, with $45 billion in loans and
$92.5 billion in sales volume. In addition to the company’s card-issuing business, the Direct Banking
segment includes other consumer products and services, such as personal loans, student loans,
prepaid cards and deposit products.
Payment Services
The Payment Services segment consists of: PULSE, one of the nation’s leading ATM/debit networks;
Diners Club International, a global payments network; and our third-party issuing business, which includes
credit, debit and prepaid cards issued by third parties on the Discover Network.
Discover Card
• $45 billion in loans
• Leading cash rewards program
• 1 in 4 U.S. households
Deposits
• $20.6 billion direct-to-consumer deposits
Personal Loans
• $1.9 billion in loans
Student Loans
• $1 billion in private student loans
• On preferred-lender list at approximately
800 schools
• Acquired The Student Loan Corporation in
December 2010
Discover Network
• $103 billion volume
• 30+ issuers
PULSE Debit Network
• $118 billion volume
• 4,400+ issuers
Diners Club International
• $27 billion volume
• 51 franchises
• 185+ countries/territories
Certain historical numbers in this Annual Report are shown on an “as adjusted” basis where indicated. The as-adjusted basis assumes that the trusts used in our securitization activities
were consolidated into our fi nancial results and excludes from results income received in connection with the antitrust litigation settlement in 2009. For an explanation as to why
management believes that the “as adjusted” numbers are useful to investors and for a reconciliation of these numbers, see “Management’s Discussion and Analysis of Financial
Condition and Results of Operations—Reconciliations of GAAP to As Adjusted Data” in the accompanying Annual Report on Form 10-K.
Note: Balances are as of November 30, 2010. Volumes are for the fi scal year ended November 30, 2010.