Discover 2015 Annual Report Download - page 169
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-153-
25. Parent Company Condensed Financial Information
The following Parent Company financial statements are provided in accordance with SEC rules, which require
such disclosure when the restricted net assets of consolidated subsidiaries exceed 25% of consolidated net assets.
Discover Financial Services
(Parent Company Only)
Condensed Statements of Financial Condition
December 31,
2015 2014
(dollars in millions)
Assets:
Cash and cash equivalents(1) .......................................................................................................................... $2,133 $ 79
Notes receivable from subsidiaries(2) ............................................................................................................... 736 2,436
Investments in subsidiaries ............................................................................................................................. 10,924 10,360
Other assets ................................................................................................................................................. 217 204
Total assets ............................................................................................................................................... $ 14,010 $ 13,079
Liabilities and Stockholders' Equity:
Non-interest bearing deposit accounts ............................................................................................................ $ 2 $ 1
Interest-bearing deposit accounts .................................................................................................................... 2 4
Total deposits ........................................................................................................................................... 4 5
Short-term borrowings from subsidiaries ......................................................................................................... 314 108
Other long-term borrowings ........................................................................................................................... 2,119 1,559
Accrued expenses and other liabilities ............................................................................................................. 298 273
Total liabilities ........................................................................................................................................... 2,735 1,945
Stockholders' equity ...................................................................................................................................... 11,275 11,134
Total liabilities and stockholders' equity ....................................................................................................... $ 14,010 $ 13,079
(1) The Parent Company had $2.1 billion in a money market deposit account at Discover Bank as of December 31, 2015, which is included in cash and cash
equivalents. These funds are available to the Parent for liquidity purposes.
(2) The Parent Company advanced $500 million to Discover Bank as of December 31, 2015, which is included in notes receivable from subsidiaries. These funds are
available to the Parent for liquidity purposes.