Discover financial services (DFS)
CashFlow / Yearly
Dec'19Dec'18Dec'17Dec'16Dec'15Dec'14Dec'13Nov'12Nov'11Nov'10Nov'09Nov'08Nov'07
Cash flows from operating activities
Net Income (Loss) Attributable to Parent

2,957

2,742

2,099

2,393

2,297

2,323

2,470

2,345

2,227

765

1,276

927

588

Adjustments to reconcile net income to net cash provided by operating activities
Provision for credit losses

3,231

3,035

2,579

1,859

1,512

1,443

1,086

848

1,013

3,207

2,362

1,615

950

Deferred income taxes

-

-

-

-

-

-

-

146

232

113

-61

-262

-218

Depreciation and amortization on premises and equipment

-

-

-

-

-

-

-

95

90

89

97

107

122

Amortization of deferred revenues

-

-

-

-

-

-

-

204

255

195

133

-84

-22

Pension curtailment

-

-

-

-

-

-

-

-

-

-

-

-38

0

Depreciation and amortization

436

435

393

351

391

369

334

172

156

83

105

124

134

Amortization of deferred revenues and accretion of accretable yield on acquired loans

421

403

399

395

432

474

465

303

225

0

-

-

-

Net (gain) loss on investments and other assets

-37

-45

-55

-57

26

56

123

26

-4

19

-9

-50

-

Loss on equity method and other investments

-

-

-

-

-

-

-

-11

-5

0

0

-

-

Loss related to loans sold and held for sale

-

-

-

-

-

-

-

-

-

-

-

0

-

Impairment of Goldfish business

-

-

-

-

-

-

-

-

-

-

-

-

391

Loss on investment securities

-

-

-

-

-

-

-

-

-

-

-

-

-11

Loss on premises and equipment

-

-

-

-

-

-

-

0

-3

-2

-6

0

0

Loss on sale of other assets

-

-

-

-

-

-

-

-

-

-

-

165

0

Gain on origination and sale of loans

-

-

-

-

-

-

-

104

5

-23

0

-

-

Stock-based compensation expense

-

-

-

-

-

-

-

47

44

37

44

92

35

Elimination of credit card rewards program forfeitures

-

-

-

-

-

-

-

0

-

-

-

-

-

Impairment of goodwill

-

-

-

-

-

-

-

0

-

-

-

-

-

Loss on Diners Club Italy business held for sale

-

-

-

-

-

-

-

0

-

-

-

-

-

Gain on purchase of business

-

-

-

-

-

-

-

-

7

0

0

-

-

Proceeds from sale of mortgage loans originated for sale

-

-

-

-

2,714

2,811

4,160

1,798

0

-142

0

0

106

Net principal disbursed on mortgage loans originated for sale

-

-

-

-

2,519

2,700

3,805

2,021

0

-143

0

0

99

Other, net

-51

-107

361

113

-8

275

381

-

-

-

-

-

-

Gains on sales of mortgages and installment loans

-

-

-

-

-

-

-

-

-

-

-

-

3

Changes in assets and liabilities
Decrease in amounts due from asset securitization

-

-

-

-

-

-

-

-

-

-

-541

-805

-79

Decrease (increase) in other assets

202

7

502

187

237

238

252

112

22

201

104

171

129

(Decrease) increase in accrued expenses and other liabilities

209

-549

622

234

162

73

-269

349

338

313

-545

1,172

90

Net cash provided by operating activities

6,196

5,191

5,208

4,425

3,854

3,826

3,517

3,041

3,598

4,218

3,597

4,504

2,038

Cash flows from investing activities
Maturities of other short-term investments

1,000

0

0

-

-

-

-

-

375

1,350

919

0

0

Purchases of other short-term investments

1,000

0

0

-

-

-

-

-

-

375

2,269

0

0

Proceeds from the sale of Goldfish business

-

-

-

-

-

-

-

-

-

-

-

-

0

Payments for business and other acquisitions, net of cash acquired

-

-

-

-

-

-

-

-

-

-

-

-

5

Maturities of available-for-sale investment securities

140

838

200

1,342

1,517

1,460

1,423

1,783

1,327

723

423

0

0

Purchases of available-for-sale investment securities

7,183

2,554

0

0

677

390

325

1,816

2,400

5,285

683

85

120

Maturities of held-to-maturity investment securities

31

18

16

24

17

10

29

11

18

22

8

37

10

Purchases of held-to-maturity investment securities

66

82

40

56

37

53

2

51

2

1

1

33

32

Proceeds from sale of student loans held for sale

-

-

-

-

-

-

-

269

29

1,469

0

0

8,434

Net principal repaid on loans originated for investment

7,844

8,480

8,701

5,978

3,479

5,095

3,915

4,085

3,958

3,434

7,403

11,426

9,763

Proceeds from sale of other investments

-

-

-

-

-

-

-

0

0

-

-

-

-

Proceeds from returns of investment

0

0

-17

0

0

-

-

-

-

-

-

-

-

Purchases of loan receivables

-

-

-

-

-

-

136

490

3,165

0

0

-

-

Purchase of net assets of a business

-

-

-

-

-

-

-

49

0

0

-

-

-

Purchase of business, net of cash acquired

-

-

-

-

-

-

-

-

401

0

0

160

-

Purchases of other investments

68

65

65

51

51

60

114

65

109

0

0

-

-

Proceeds from securitization

-

-

-

-

-

-

-

-

-

-

3,542

5,562

-

Decrease in restricted cash - special dividend escrow

-

-

-

-

-

-

-

-

-

643

-643

0

-

Decrease in restricted cash

-

-

-

-

-7

-76

-108

1,057

-284

125

0

0

0

Proceeds from sale of premises and equipment

-

-

-

-

-

0

0

1

3

0

1

0

0

Purchases of premises and equipment

284

254

218

179

167

145

231

144

111

55

53

93

118

Proceeds from sale of subsidiaries

-

-

-

-

2

0

0

-

-

-

-

69

-

Net cash used for investing activities

-15,274

-10,579

-8,791

-4,898

-2,868

-4,197

-3,163

-5,693

-8,110

-5,068

-6,160

-6,130

-1,595

Cash flows from financing activities
Proceeds from issuance of preferred stock and warrant

-

-

-

-

-

-

-

-

-

-

1,224

-

-

Net decrease in short-term borrowings

-

-

-

-

-113

-27

-231

234

50

0

-500

-259

-3,895

Proceeds from issuance of securitized debt

3,519

4,766

5,059

3,070

2,975

5,049

4,650

5,850

3,700

1,800

0

0

-

Maturities and repayment of securitized debt

6,287

4,447

4,959

3,419

3,634

4,678

3,638

3,752

5,744

9,311

0

0

-

Proceeds from issuance of other long-term borrowings

1,340

2,233

1,127

1,122

2,789

1,646

1,744

0

0

1,003

1,098

0

-

Maturities and repayment of other long-term borrowings

286

1,756

404

0

0

-

-

-

-

-

-

-

-

Proceeds from issuance of long-term borrowings and bank notes

-

-

-

-

-

-

-

-

-

-

-

-

2,102

Repayment of long-term borrowings and bank notes

-

-

-

-

-

-

-

13

362

636

404

397

1,486

Payment of contingent consideration for purchase of net assets of a business, at fair value

-

-

-

-

-

-

9

0

0

-

-

-

-

Premium paid on debt exchange

-

-

-

-

-

-

-

291

0

0

-

-

-

Proceeds from issuance of common stock

7

6

5

7

5

5

13

26

23

1

533

0

0

Purchases of treasury stock

1,768

2,065

2,081

1,908

1,715

1,564

1,296

1,216

436

8

11

6

1

Net increase in deposits

4,945

8,961

6,753

4,453

1,510

1,137

2,782

2,539

5,142

1,344

3,572

3,816

11,345

Proceeds from Issuance of Preferred Stock and Preference Stock

0

0

563

0

0

-

-

560

0

0

-

0

0

Proceeds from acquisition of deposits

-

-

-

-

-

-

-

-

-

977

0

0

-

Payments on redemption of preferred stock

0

0

575

0

0

-

-

-

-

1,225

0

0

-

Repurchase of warrant

-

-

-

-

-

-

-

-

-

172

0

0

-

Dividend paid to Morgan Stanley

-

-

-

-

-

-

-

-

-

775

0

0

850

Dividends paid on common and preferred stock

573

552

527

514

515

467

399

209

110

70

101

116

29

Capital contributions from Morgan Stanley

-

-

-

-

-

-

-

-

-

-

-

-

273

Net cash provided by financing activities

897

7,146

4,961

2,811

1,302

1,101

3,616

3,728

2,263

-7,072

5,412

3,035

7,458

Net increase in cash, cash equivalents and restricted cash

-8,181

1,758

1,378

2,338

2,288

730

3,970

1,076

-2,249

-7,922

2,849

1,384

7,912

Effect of exchange rate changes on cash and cash equivalents

-

-

-

-

-

-

-

-

-

-

-

-24

10

Supplemental disclosures of cash flow information
Cash paid during the period for
Interest Paid, Excluding Capitalized Interest, Operating Activities

2,407

1,847

1,396

1,211

1,070

933

975

1,203

1,342

1,452

1,266

1,305

1,233

Income Taxes Paid, Net

1,088

650

1,424

1,300

1,341

1,388

1,348

1,301

906

169

913

670

531

Non-cash investing and financing transactions:
Assumption of debt by buyer related to loans sold

-

-

-

-

-

-

-

425

0

0

-

-

-

Assumption of SLC debt

-

-

-

-

-

-

-

-

2,921

0

0

-

-

Acquisition of certificated beneficial interests in DCENT and DCMT, net of maturities

-

-

-

-

-

-

-

-

-

-

3,561

750

315

Special dividend - Morgan Stanley (non-cash)

-

-

-

-

-

-

-

-

-

-34

335

-473

0

Capital contributions to Morgan Stanley

-

-

-

-

-

-

-

-

-

-

-

-

-94