Discover 2010 Annual Report Download - page 67

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For the Year Ended
November 30, 2009
For the Year Ended
November 30, 2008
Average Balances
(dollars in thousands, except where noted)
Average other liabilities and stockholders’ equity (non-interest earning)
GAAP ............................................................................................................................................... $10,624,758 $ 9,159,807
Adjustments for Statement No. 167........................................................................................................ (1,794,724) (2,609,385)
As Adjusted ....................................................................................................................................... $ 8,830,034 $ 6,550,422
Average total liabilities and stockholders’ equity
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
Ratios and Other Amounts
Net interest margin
GAAP ............................................................................................................................................... 7.13% 6.58%
Adjustments for Statement No. 167........................................................................................................ 2.32 1.95
As Adjusted ....................................................................................................................................... 9.45% 8.53%
Net yield on interest-earning assets
GAAP ............................................................................................................................................... 4.74% 4.20%
Adjustments for Statement No. 167........................................................................................................ 2.86 2.73
As Adjusted ....................................................................................................................................... 7.60% 6.93%
Interest rate spread
GAAP ............................................................................................................................................... 3.90% 3.40%
Adjustments for Statement No. 167........................................................................................................ 3.26 3.13
As Adjusted ....................................................................................................................................... 7.16% 6.53%
Amortization of balance transfer fees in interest income on credit card loans
(dollars in millions)
GAAP ............................................................................................................................................... $ 128 $ 70
Adjustments for Statement No. 167........................................................................................................ 59 45
As Adjusted ....................................................................................................................................... $ 187 $ 115
For the Year Ended
November 30, 2007
For the Year Ended
November 30, 2006
Total average loan receivables
GAAP ............................................................................................................................................... $19,947,784 $19,252,929
Adjustments for Statement No. 167........................................................................................................ 26,965,690 25,156,303
As Adjusted ....................................................................................................................................... $46,913,474 $44,409,232
Total loans interest yield
GAAP ............................................................................................................................................... 10.73% 10.48%
Adjustments for Statement No. 167........................................................................................................ 1.91 2.03
As Adjusted ....................................................................................................................................... 12.64% 12.51%
Total average credit card loan receivables
GAAP ............................................................................................................................................... $19,845,880 $19,120,946
Adjustments for Statement No. 167........................................................................................................ 26,965,690 25,156,303
As Adjusted ....................................................................................................................................... $46,811,570 $44,277,249
Credit card interest yield
GAAP ............................................................................................................................................... 10.75% 10.50%
Adjustments for Statement No. 167........................................................................................................ 1.91 2.03
As Adjusted ....................................................................................................................................... 12.66% 12.53%
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