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
- Chairman and CEO: David W. Nelms
- CFO: R. Mark Graf
- Type: Public
- Industry: Financial Services
- Publicly listed on the New York Stock Exchange (NYSE)
- NYSE stock ticker symbol: DFS
- S&P 500 Component
- Revenue: $8.2 billion USD (2013)
- Net income: $2.470 billion USD (2013)
- Diluted earnings per share: $4.96 USD (2013)
- Founded: 1985
- Employees: 14,128 (2013)
- Corporate headquarters: 2500 Lake Cook Road, Riverwoods, Illinois 60015, USA
- Corporate contact number: (224) 405-0900
- Investor relations contact number: (224) 405-4555
- Investor relations email address: [email protected]
- Website: https://www.discover.com/
| 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”