Discover Financial Services (DFS) financial statements (2021 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)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments15,7646,92413,29913,30611,9149,5727,284
Cash and cash equivalents13,5646,92413,29913,30611,9149,5727,284
Short-term investments2,200      
Total current assets:15,7646,92413,29913,30611,9149,5727,284
Noncurrent Assets
Property, plant and equipment1,0271,057936825734693670
Intangible assets, net (including goodwill)350410416418421423433
Goodwill255255255255255255257
Intangible assets, net (excluding goodwill)95155161163166168176
Amortization method qualified affordable housing project investments 298271288270238
Total noncurrent assets:1,3771,7651,6231,5311,4251,3541,103
Other undisclosed assets95,748105,30794,63185,25078,96976,01074,739
TOTAL ASSETS:112,889113,996109,553100,08792,30886,93683,126
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt      113
Total current liabilities:      113
Noncurrent Liabilities
Long-term debt and lease obligation, including:21,24125,70127,22826,32625,44324,72422,544
Other undisclosed long-term debt and lease obligation21,24125,70127,22826,32625,44324,72422,544
Liabilities, other than long-term debt 5930666457 
Qualified affordable housing project investments, commitment 5930666457
Total noncurrent liabilities:21,24125,76027,25826,39225,50724,78122,544
Other undisclosed liabilities80,76476,37771,16562,80355,47850,88049,335
Total liabilities:102,005102,13798,42389,19580,98575,66171,992
Stockholders' equity
Stockholders' equity attributable to parent10,88411,85911,13010,89211,32311,27511,134
Preferred stock1,056563563563560560560
Common stock6666555
Treasury stock, value(14,435)(14,087)(12,319)(10,254)(8,173)(6,265)(4,550)
Additional paid in capital4,2574,2064,1304,0423,9623,8853,790
Accumulated other comprehensive income (loss)45(119)(156)(152)(161)(160)(138)
Retained earnings19,95521,29018,90616,68715,13013,25011,467
Total stockholders' equity:10,88411,85911,13010,89211,32311,27511,134
TOTAL LIABILITIES AND EQUITY:112,889113,996109,553100,08792,30886,93683,126

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

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Revenues10,84311,81410,85310,2349,1988,6098,325
Net investment income10,84311,81410,8539,6488,6167,9457,596
Cost of revenue(5,134)(3,231)(3,035)(2,579)(1,859)(1,512)(1,443)
Provision for loan, lease, and other losses(5,134)(3,231)(3,035)
Financial services costs(2,579)(1,859)(1,512)(1,443)
Gross profit:5,7098,5837,8187,6557,3397,0976,882
Operating expenses(2,173)(2,279)(2,096)(3,474)(3,271)(3,247)(3,093)
Operating income:3,5366,3045,7224,1814,0683,8503,789
Nonoperating income
(Investment Income, Nonoperating)
80  3 94
Interest and debt expense(1,865)(2,530)(2,139)(1,648)(1,398)(1,263)(1,134)
Other undisclosed income (loss) from continuing operations before equity method investments, income taxes(316)61141,0019861,0161,035
Income from continuing operations before equity method investments, income taxes:1,4353,8353,5973,5373,6563,6123,694
Loss from equity method investments      (29)
Income from continuing operations before income taxes:1,4353,8353,5973,5373,6563,6123,665
Income tax expense(294)(878)(855)(1,438)(1,263)(1,315)(1,371)
Net income:1,1412,9572,7422,0992,3932,2972,294
Other undisclosed net income attributable to parent      29
Net income attributable to parent:1,1412,9572,7422,0992,3932,2972,323
Preferred stock dividends and other adjustments   15   
Other undisclosed net loss available to common stockholders, basic(37)(31)(31)(67)(37)(37)(37)
Net income available to common stockholders, diluted:1,1042,9262,7112,0472,3562,2602,286

Comprehensive Income ($ in millions)

12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
Net income:1,1412,9572,7422,0992,3932,2972,294
Other comprehensive income (loss)16437259(1)(22)(70)
Comprehensive income:1,3052,9942,7672,1082,3922,2752,224
Other undisclosed comprehensive income, net of tax, attributable to parent      29
Comprehensive income, net of tax, attributable to parent:1,3052,9942,7672,1082,3922,2752,253

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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