Discover 2010 Annual Report Download - page 64

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As of and for the Year Ended November 30,
Total Loan Receivables 2009 2008 2007 2006
(dollars in thousands)
Delinquencies (Over 90 Days and accruing interest)
GAAP ........................................................................................................................ $ 522,190 $ 444,324 $ 271,227 $ 244,675
Adjustments for Statement No. 167 ................................................................................. 694,864 508,241 424,075 360,118
As Adjusted................................................................................................................. $ 1,217,054 $ 952,565 $ 695,302 $ 604,793
Loans not accruing interest
GAAP ........................................................................................................................ $ 190,086 $ 173,123 $ 102,286 $ 110,625
Adjustments for Statement No. 167 ................................................................................. 248,192 193,385 154,408 151,152
As Adjusted................................................................................................................. $ 438,278 $ 366,508 $ 256,694 $ 261,777
Delinquency rate (Over 30 Days)
GAAP ........................................................................................................................ 4.92% 4.35% 3.26% 3.05%
Adjustments for Statement No. 167 ................................................................................. 0.39 0.21 0.32 0.34
As Adjusted................................................................................................................. 5.31% 4.56% 3.58% 3.39%
Delinquency rate (Over 90 Days)
GAAP ........................................................................................................................ 2.58% 2.06% 1.51% 1.43%
Adjustments for Statement No. 167 ................................................................................. 0.20 0.11 0.16 0.16
As Adjusted................................................................................................................. 2.78% 2.17% 1.67% 1.59%
Delinquency rate (Over 90 Days and accruing interest)
GAAP ........................................................................................................................ 2.21% 1.76% 1.30% 1.18%
Adjustments for Statement No. 167 ................................................................................. 0.18 0.10 0.14 0.11
As Adjusted................................................................................................................. 2.39% 1.86% 1.44% 1.29%
Delinquency rate (Loans not accruing interest)
GAAP ........................................................................................................................ 0.80% 0.69% 0.49% 0.53%
Adjustments for Statement No. 167 ................................................................................. 0.06 0.03 0.04 0.04
As Adjusted................................................................................................................. 0.86% 0.72% 0.53% 0.57%
Discover Card
Charge-offs
GAAP ........................................................................................................................ $ (2,034,458) $ (1,119,362) $ (834,792) $ (848,645)
Adjustments for Statement No. 167 ................................................................................. (2,208,036) (1,713,409) (1,366,949) (1,331,501)
As Adjusted................................................................................................................. $ (4,242,494) $ (2,832,771) $ (2,201,741) $ (2,180,146)
Recoveries
GAAP ........................................................................................................................ $ 184,383 $ 165,422 $ 160,167 $ 153,006
Adjustments for Statement No. 167 ................................................................................. 212,100 240,422 247,439 274,793
As Adjusted................................................................................................................. $ 396,483 $ 405,844 $ 407,606 $ 427,799
Total Discover Card Loans
GAAP ........................................................................................................................ $19,826,153 $23,348,134 $20,345,787 $19,582,675
Adjustments for Statement No. 167 ................................................................................. 27,229,062 25,878,667 27,349,319 26,064,459
As Adjusted................................................................................................................. $47,055,215 $49,226,801 $47,695,106 $45,647,134
Allowance for loan losses (end of period)
GAAP ........................................................................................................................ $ 1,587,107 $ 1,285,215 $ 742,507 $ 698,945
Adjustments for Statement No. 167 ................................................................................. 2,144,461 1,379,771 971,730 928,375
As Adjusted................................................................................................................. $ 3,731,568 $ 2,664,986 $ 1,714,237 $ 1,627,320
Total Credit Card Loans
Loan receivables
GAAP ........................................................................................................................ $20,230,302 $23,814,307 $20,579,923 $20,694,395
Adjustments for Statement No. 167 ................................................................................. 27,229,062 25,878,667 27,349,319 25,011,827
As Adjusted................................................................................................................. $47,459,364 $49,692,974 $47,929,242 $45,706,222
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