Discover 2015 Annual Report Download - page 5
Download and view the complete annual report
Please find page 5 of the 2015 Discover annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.-
1 -
2 -
3 -
4 -
5 -
6 -
7 -
8 -
9 -
10 -
11 -
12 -
13 -
14 -
15 -
16 -
17
-
18
-
19
-
20
-
21
-
22
-
23
-
24
-
25
-
26
-
27
-
28
-
29
-
30
-
31
-
32
-
33
-
34
-
35
-
36
-
37
-
38
-
39
-
40
-
41
-
42
-
43
-
44
-
45
-
46
-
47
-
48
-
49
-
50
-
51
-
52
-
53
-
54
-
55
-
56
-
57
-
58
-
59
-
60
-
61
-
62
-
63
-
64
-
65
-
66
-
67
-
68
-
69
-
70
-
71
-
72
-
73
-
74
-
75
-
76
-
77
-
78
-
79
-
80
-
81
-
82
-
83
-
84
-
85
-
86
-
87
-
88
-
89
-
90
-
91
-
92
-
93
-
94
-
95
-
96
-
97
-
98
-
99
-
100
-
101
-
102
-
103
-
104
-
105
-
106
-
107
-
108
-
109
-
110
-
111
-
112
-
113
-
114
-
115
-
116
-
117
-
118
-
119
-
120
-
121
-
122
-
123
-
124
-
125
-
126
-
127
-
128
-
129
-
130
-
131
-
132
-
133
-
134
-
135
-
136
-
137
-
138
-
139
-
140
-
141
-
142
-
143
-
144
-
145
-
146
-
147
-
148
-
149
-
150
-
151
-
152
-
153
-
154
-
155
-
156
-
157
-
158
-
159
-
160
-
161
-
162
-
163
-
164
-
165
-
166
-
167
-
168
-
169
-
170
-
171
-
172
-
173
-
174
-
175
-
176
-
177
-
178
-
179
-
180
-
181
-
182
-
183
-
184
-
185
-
186
-
187
-
188
-
189
-
190
-
191
-
192
 |
 |
Net Income [Millions]
2011 2012 2013 2014 2015
$2,227
$2,345
$2,470
$2,323 $2,297
Diluted Earnings Per Share
of Common Stock
2011 2012 2013 2014 2015
$4.06
$4.46
$4.96 $4.90
$5.13
Stock Price at Fiscal Year-End
2011 2012 2013 2014 2015
$23.82
$41.61
$55.95
$65.49
$53.62
Our Results
Financial highlights for 2015 included:
• Net income of $2.3 billion, return on equity of 21%
• Diluted earnings per share of $5.13, up 5% from the prior year
• Growth in total loans of 3.5%
• A net charge-off rate of 2.01%
• Network volume of $312 billion, including $118 billion from Discover card sales
• Continued expansion of merchant acceptance, domestically and around the world
Looking ahead, our primary focus will be on four key areas: 1) growing loans and
revenue across our Direct Banking segment while maintaining credit discipline,
2) managing expenses to ensure they grow slower than revenues, 3) leveraging our
payment assets to benefi t our Card business and to position our Payment Services
segment for a return to growth, and 4) enhancing controls and risk management.
We will also continue to focus on optimizing our funding and capital position.