Discover Financial Services – Company Information

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Discover Financial Services is an American banking and payment services company, based in Riverwoods, Illinois.

It is one of the largest card issuers in the United States, and operates some of America’s most recognized brands in financial services.

The Discover card was originally introduced by Sears in 1985, and was a unit of Dean Witterwas. It spun off as an independent publicly traded company in 2007.

The company offers a range of products and services, including the Discover card, America’s cash rewards pioneer, checking and savings accounts, personal loans, home loans, home equity loans, private student loans, money market accounts, and certificates of deposit.

It is publicly traded on the New York Stock Exchange (NYSE) under the stock ticker symbol ‘DFS’.

Overview

Discover Financial Services logo


Operating data (in $ millions) 2013 2012
Total interest income $7,064 $6,703
Total other income $2,306 $2,281
Total revenue $8,200 $7,700
Income before income tax expense $3,944 $3,753
Income tax expense $1,474 $1,408
Net income $2,470 $2,345
Net income allocated to common stockholders $2,414 $2,318
Comprehensive income $2,474 $2,322
Balance sheet data (in $ millions)
Total assets $79,340 $73,491
Total liabilities $68,531 $63,618
Total stockholders’ equity $10,809 $9,873
Cash flow data (in $ millions)
Net cash provided by operating activities $3,517 $3,041
Net cash used in investing activities $(3,163) $(5,693)
Net cash provided by financing activities $3,616 $3,728
Cash and cash equivalents at end of period $6,554 $3,926
Common share data (in $)
Basic earnings (loss) per common share $4.97 $4.47
Diluted earnings (loss) per common share $4.96 $4.46

Source: “Discover Financial Services 2013 FORM 10-K Annual Report”


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