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The loan receivables information show below is provided on both a GAAP basis and an “as adjusted” basis. The
as-adjusted basis assumes that the trusts used in our securitization activities were consolidated into our financial results
and excludes from results income received in connection with the antitrust litigation settlement in 2009 and 2008. 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.”
For the Years Ended November 30,
2010 2009(1) 2008(1) 2007(1) 2006(1)
(dollars in thousands)
Selected Statistics:
Total Loan Receivables
GAAP information:
Loan receivables ................................................................................... $48,836,413 $23,625,084 $25,216,611 $20,831,117 $20,790,244
Average loan receivables ....................................................................... $49,909,187 $26,552,574 $21,348,493 $19,947,784 $19,252,929
Interest yield......................................................................................... 12.20% 11.31% 10.89% 10.73% 10.48%
Net principal charge-off rate................................................................... 7.57% 7.45% 4.59% 3.40% 3.63%
Delinquency rate (over 30 days).............................................................. 3.89% 4.92% 4.35% 3.26% 3.05%
Delinquency rate (over 90 days).............................................................. 2.04% 2.58% 2.06% 1.51% 1.43%
As adjusted information:
Loan receivables – As adjusted................................................................ N/A $50,854,146 $51,095,278 $48,180,436 $45,802,071
Average loan receivables – As adjusted.................................................... N/A $51,130,117 $49,011,148 $46,913,474 $44,409,232
Interest yield – As adjusted ..................................................................... N/A 12.40% 12.59% 12.65% 12.52%
Net principal charge-off rate – As adjusted ............................................... N/A 7.77% 5.01% 3.83% 3.95%
Delinquency rate (over 30 days) – As adjusted .......................................... N/A 5.31% 4.56% 3.58% 3.39%
Delinquency rate (over 90 days) – As adjusted .......................................... N/A 2.78% 2.17% 1.67% 1.59%
Total Credit Card Loan Receivables
GAAP information
Credit card loan receivables ................................................................... $45,156,994 $20,230,302 $23,814,307 $20,579,923 $20,694,395
Average credit card loan receivables........................................................ $45,616,791 $24,266,782 $20,566,864 $19,845,880 $19,120,946
Interest yield......................................................................................... 12.79% 11.69% 10.92% 10.75% 10.50%
Net principal charge-off rate................................................................... 8.08% 7.87% 4.73% 3.41% 3.64%
Delinquency rate (over 30 days).............................................................. 4.06% 5.52% 4.55% 3.28% 3.05%
Delinquency rate (over 90 days).............................................................. 2.12% 2.92% 2.16% 1.53% 1.44%
As adjusted information:
Credit card loan receivables – As adjusted ................................................ N/A $47,459,364 $49,692,974 $47,929,242 $45,706,222
Average credit card loan receivables – As adjusted .................................... N/A $48,844,325 $48,229,519 $46,811,570 $44,277,249
Interest yield – As adjusted ..................................................................... N/A 12.63% 12.63% 12.66% 12.53%
Net principal charge-off rate – As adjusted ............................................... N/A 8.00% 5.07% 3.84% 3.96%
Delinquency rate (over 30 days) – As adjusted .......................................... N/A 5.60% 4.66% 3.59% 3.39%
Delinquency rate (over 90 days) – As adjusted .......................................... N/A 2.94% 2.22% 1.68% 1.59%
(1) Amounts as of and for the year ended November 30, 2010 include securitized loans as a result of the consolidation of the securitization trusts related to a change in accounting principle on
December 1, 2009. Amounts under “GAAP information” prior to December 1, 2009 do not include securitized loans.
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