Discover 2010 Annual Report Download - page 66

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Average Balance Sheet Reconciliation
For the Year Ended November 30, 2009 For the Year Ended November 30, 2008
Average
Balances
Interest
Income/Expense Yield
Average
Balances
Interest
Income/Expense Yield
(dollars in thousands) (dollars in thousands)
Average restricted cash
GAAP................................................................................... $ — $ — — % $ — $ — — %
Adjustments for Statement No. 167 ........................................... 2,438,438 18,195 0.75 2,770,260 95,060 3.43
As Adjusted ........................................................................... $ 2,438,438 $ 18,195 0.75% $ 2,770,260 $ 95,060 3.43%
Average investment securities
GAAP................................................................................... $ 1,581,387 $ 68,694 4.34% $ 916,307 $ 51,345 5.60%
Adjustments for Statement No. 167 ........................................... (1,096,270) (43,464) 0.86 (721,633) (45,993) (2.85)
As Adjusted ........................................................................... $ 485,117 $ 25,230 5.20% $ 194,674 $ 5,352 2.75%
Average credit card loan receivables
GAAP................................................................................... $24,266,782 $2,835,767 11.69% $20,566,864 $2,245,719 10.92%
Adjustments for Statement No. 167 ........................................... 24,577,543 3,333,536 0.94 27,662,655 3,844,499 1.71
As Adjusted ........................................................................... $48,844,325 $6,169,303 12.63% $48,229,519 $6,090,218 12.63%
Average total loan receivables
GAAP................................................................................... $26,552,574 $3,004,284 11.31% $21,348,493 $2,325,414 10.89%
Adjustments for Statement No. 167 ........................................... 24,577,543 3,333,536 1.09 27,662,655 3,844,499 1.70
As Adjusted ........................................................................... $51,130,117 $6,337,820 12.40% $49,011,148 $6,169,913 12.59%
Average other interest-earning assets
GAAP................................................................................... $ 2,338,438 $ 18,195 0.78% $ 2,770,260 $ 95,060 3.43%
Adjustments for Statement No. 167 ........................................... (2,338,438) (18,195) (0.78) (2,770,260) (95,060) (3.43)
As Adjusted ........................................................................... $ — $ — — % $ — $ — — %
Average total interest-earning assets
GAAP................................................................................... $39,989,758 $3,145,080 7.86% $33,409,965 $2,692,563 8.06%
Adjustments for Statement No. 167 ........................................... 23,581,273 3,290,072 2.26 26,941,022 3,798,506 2.70
As Adjusted ........................................................................... $63,571,031 $6,435,152 10.12% $60,350,987 $6,491,069 10.76%
Average allowance for loan losses
GAAP................................................................................... $ (1,808,493) $ (887,668)
Adjustments for Statement No. 167 ........................................... (1,741,736) (1,145,671)
As Adjusted ........................................................................... $ (3,550,229) $ (2,033,339)
Average other assets (non-interest bearing)
GAAP................................................................................... $ 4,053,270 $ 2,960,496
Adjustments for Statement No. 167 ........................................... (913,561) (438,618)
As Adjusted ........................................................................... $ 3,139,709 $ 2,521,878
Average total assets
GAAP................................................................................... $42,234,535 $36,804,388
Adjustments for Statement No. 167 ........................................... 20,925,976 25,356,733
As Adjusted ........................................................................... $63,160,511 $62,161,121
Average securitized borrowings
GAAP................................................................................... $ — $ — — % $ — $ — — %
Adjustments for Statement No. 167 ........................................... 22,720,700 354,215 1.56 26,897,712 1,023,320 3.80
As Adjusted ........................................................................... $22,720,700 $ 354,215 1.56% $26,897,712 $1,023,320 3.80%
Average total borrowings
GAAP................................................................................... $ 2,486,187 $ 64,200 2.58% $ 1,956,807 $ 88,568 4.53%
Adjustments for Statement No. 167 ........................................... 22,720,700 354,215 (0.92) 26,897,712 1,023,320 (0.69)
As Adjusted ........................................................................... $25,206,887 $ 418,415 1.66% $28,854,519 $1,111,888 3.84%
Average total interest-bearing liabilities
GAAP................................................................................... $31,609,777 $1,251,284 3.96% $27,644,581 $1,288,005 4.66%
Adjustments for Statement No. 167 ........................................... 22,720,700 354,215 (1.00) 26,897,712 1,023,320 (0.42)
As Adjusted ........................................................................... $54,330,477 $1,605,499 2.96% $54,542,293 $2,311,325 4.24%
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