Discover Financial Services (DFS) financial statements (2022 and earlier)

Company profile

Business Address 2500 LAKE COOK ROAD
RIVERWOODS, IL 60015
State of Incorp. DE
Fiscal Year End December 31
SIC 6141 - Personal Credit Institutions (benchmarking)
More info Complete financial analysis Financial benchmarking

Balance sheet (Statement of financial position) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments8,75015,7646,92413,29913,30611,9149,572
Cash and cash equivalents8,75013,5646,92413,29913,30611,9149,572
Short-term investments 2,200     
Total current assets:8,75015,7646,92413,29913,30611,9149,572
Noncurrent Assets
Property, plant and equipment9831,0271,057936825734693
Intangible assets, net (including goodwill)255350410416418421423
Goodwill255255255255255255255
Intangible assets, net (excluding goodwill) 95155161163166168
Amortization method qualified affordable housing project investments  298271288270238
Total noncurrent assets:1,2381,3771,7651,6231,5311,4251,354
Other undisclosed assets100,25495,748105,30794,63185,25078,96976,010
TOTAL ASSETS:110,242112,889113,996109,553100,08792,30886,936
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Noncurrent Liabilities
Long-term debt and lease obligation, including:18,47721,24125,70127,22826,32625,44324,724
Other undisclosed long-term debt and lease obligation18,47721,24125,70127,22826,32625,44324,724
Liabilities, other than long-term debt  5930666457
Qualified affordable housing project investments, commitment  5930666457
Total noncurrent liabilities:18,47721,24125,76027,25826,39225,50724,781
Other undisclosed liabilities78,35780,76476,37771,16562,80355,47850,880
Total liabilities:96,834102,005102,13798,42389,19580,98575,661
Stockholders' equity
Stockholders' equity attributable to parent13,40810,88411,85911,13010,89211,32311,275
Preferred stock1,0561,056563563563560560
Common stock6666655
Treasury stock, value(16,695)(14,435)(14,087)(12,319)(10,254)(8,173)(6,265)
Additional paid in capital4,3694,2574,2064,1304,0423,9623,885
Accumulated other comprehensive income (loss)(94)45(119)(156)(152)(161)(160)
Retained earnings24,76619,95521,29018,90616,68715,13013,250
Total stockholders' equity:13,40810,88411,85911,13010,89211,32311,275
TOTAL LIABILITIES AND EQUITY:110,242112,889113,996109,553100,08792,30886,936

Income statement (P&L) ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Revenues10,47010,84311,81410,85310,2349,1988,609
Net investment income10,46910,84311,81410,8539,6488,6167,945
Cost of revenue(218)(5,134)(3,231)(3,035)(2,579)(1,859)(1,512)
Provision for loan, lease, and other losses(218)(5,134)(3,231)(3,035)
Financial services costs(2,579)(1,859)(1,512)
Gross profit:10,2525,7098,5837,8187,6557,3397,097
Operating expenses(2,336)(2,173)(2,279)(2,096)(3,474)(3,271)(3,247)
Operating income:7,9163,5366,3045,7224,1814,0683,850
Nonoperating income
(Investment Income, Nonoperating)
 80  3 9
Interest and debt expense(1,134)(1,865)(2,530)(2,139)(1,648)(1,398)(1,263)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes (316)61141,0019861,016
Income from continuing operations before equity method investments, income taxes:6,7821,4353,8353,5973,5373,6563,612
Other undisclosed income from continuing operations before income taxes282      
Income from continuing operations before income taxes:7,0641,4353,8353,5973,5373,6563,612
Income tax expense(1,615)(294)(878)(855)(1,438)(1,263)(1,315)
Net income attributable to parent:5,4491,1412,9572,7422,0992,3932,297
Preferred stock dividends and other adjustments    15  
Other undisclosed net loss available to common stockholders, basic(98)(37)(31)(31)(67)(37)(37)
Net income available to common stockholders, diluted:5,3511,1042,9262,7112,0472,3562,260

Comprehensive Income ($ in millions)

12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
Net income:5,4491,1412,9572,7422,0992,3932,297
Other comprehensive income (loss)(139)16437259(1)(22)
Comprehensive income, net of tax, attributable to parent:5,3101,3052,9942,7672,1082,3922,275

Statements sources

The financial statements are based on the company's filings with the The U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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