Discover Financial Services (DFS) financial statements (2020 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)

9/30/2019
TTM
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments7,07513,29913,30611,9149,5727,2846,554
Cash and cash equivalents6,07513,29913,30611,9149,5727,2846,554
Short-term investments1,000      
Total current assets:7,07513,29913,30611,9149,5727,2846,554
Noncurrent Assets
Property, plant and equipment1,028936825734693670654
Intangible assets, net (including goodwill)414416418421423433469
Goodwill255255255255255257284
Intangible assets, net (excluding goodwill)159161163166168176185
Amortization method qualified affordable housing project investments299271288270238
Total noncurrent assets:1,7411,6231,5311,4251,3541,1031,123
Other undisclosed assets101,97094,63185,25078,96976,01074,73971,663
TOTAL ASSETS:110,786109,553100,08792,30886,93683,12679,340
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Debt     113140
Total current liabilities:     113140
Noncurrent Liabilities
Long-term debt and lease obligation, including:24,45427,22826,32625,44324,72422,54420,474
Other undisclosed long-term debt and lease obligation24,45427,22826,32625,44324,72422,54420,474
Liabilities, other than long-term debt5730666457  
Qualified affordable housing project investments, commitment5730666457
Total noncurrent liabilities:24,51127,25826,39225,50724,78122,54420,474
Other undisclosed liabilities74,55871,16562,80355,47850,88049,33547,917
Total liabilities:99,06998,42389,19580,98575,66171,99268,531
Stockholders' equity
Stockholders' equity attributable to parent11,71711,13010,89211,32311,27511,13410,809
Preferred stock563563563560560560560
Common stock6665555
Treasury stock, value(13,686)(12,319)(10,254)(8,173)(6,265)(4,550)(2,986)
Additional paid in capital4,1884,1304,0423,9623,8853,7903,687
Accumulated other comprehensive loss(74)(156)(152)(161)(160)(138)(68)
Retained earnings20,72018,90616,68715,13013,25011,4679,611
Total stockholders' equity:11,71711,13010,89211,32311,27511,13410,809
TOTAL LIABILITIES AND EQUITY:110,786109,553100,08792,30886,93683,12679,340

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

9/30/2019
TTM
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Revenues11,72410,85310,2349,1988,6098,32568
Revenue, net    68
Net investment income11,72410,8539,6488,6167,9457,596 
Cost of revenue(3,195)(3,035)(2,579)(1,859)(1,512)(1,443) 
Provision for loan, lease, and other losses(3,195)(3,035)
Financial services costs(2,579)(1,859)(1,512)(1,443) 
Gross profit:8,5297,8187,6557,3397,0976,88268
Operating expenses(2,218)(2,096)(3,474)(3,271)(3,247)(3,093)(2,302)
Operating income (loss):6,3115,7224,1814,0683,8503,789(2,234)
Nonoperating income
(Investment Income, Nonoperating)
  3 94 
Interest and debt expense(2,520)(2,139)(1,648)(1,398)(1,263)(1,134)(1,146)
Other undisclosed income from continuing operations before equity method investments, income taxes17141,0019861,0161,0357,324
Income from continuing operations before equity method investments, income taxes:3,8083,5973,5373,6563,6123,6943,944
Loss from equity method investments     (29)(18)
Income from continuing operations before income taxes:3,8083,5973,5373,6563,6123,6653,926
Income tax expense(872)(855)(1,438)(1,263)(1,315)(1,371)(1,474)
Net income:2,9362,7422,0992,3932,2972,2942,452
Other undisclosed net income attributable to parent     2918
Net income attributable to parent:2,9362,7422,0992,3932,2972,3232,470
Preferred stock dividends and other adjustments  15    
Other undisclosed net loss available to common stockholders, basic(31)(31)(67)(37)(37)(37)(37)
Net income available to common stockholders, diluted:2,9052,7112,0472,3562,2602,2862,433

Comprehensive Income ($ in millions)

9/30/2019
TTM
12/31/2018
12/31/2017
12/31/2016
12/31/2015
12/31/2014
12/31/2013
Net income:2,9362,7422,0992,3932,2972,2942,452
Other comprehensive income (loss)86259(1)(22)(70) 
Comprehensive income:3,0222,7672,1082,3922,2752,2242,452
Other undisclosed comprehensive income, net of tax, attributable to parent     2922
Comprehensive income, net of tax, attributable to parent:3,0222,7672,1082,3922,2752,2532,474

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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