DISCOVER FINANCIAL SERVICES DFS Cash Flow

Discover financial services (DFS)

CashFlow / TTM

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Jun'13	Mar'13	Nov'12	Aug'12	May'12	Mar'12	Feb'12	Nov'11	Aug'11	May'11	Feb'11	Nov'10	Aug'10	May'10	Feb'10	Nov'09	Aug'09	May'09	Feb'09
Cash flows from operating activities
Net Income (Loss) Attributable to Parent
2,170	2,957	2,936	2,886	2,802	2,742	2,442	2,324	2,201	2,099	2,275	2,312	2,382	2,393	2,330	2,303	2,286	2,297	2,201	2,233	2,278	2,323	2,521	2,470	2,428	2,470	2,418	2,452	2,386	2,345	2,307	2,329	0	2,393	2,227	2,063	1,675	1,333	765	767	1,084	1,052	1,276	0	0	0
Adjustments to reconcile net income to net cash provided by operating activities
Provision for credit losses
4,229	3,231	3,195	3,138	3,093	3,035	2,914	2,846	2,744	2,579	2,478	2,249	2,021	1,859	1,765	1,652	1,546	1,512	1,485	1,507	1,561	1,443	1,340	1,319	1,199	1,086	1,069	862	855	848	830	803	0	746	1,013	1,075	5,911	2,237	3,207	3,223	-1,330	2,811	2,362	0	0	0
Income tax deficiency on stock-based compensation expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	0
Deferred income taxes
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	140	183	180	146	39	150	0	206	232	401	334	326	113	125	165	33	-61	0	0	0
Depreciation and amortization on premises and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	107	104	97	95	94	92	0	90	90	87	86	87	89	92	95	96	97	0	0	0
Amortization of deferred revenues
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	192	195	199	204	217	233	0	247	255	248	227	297	195	380	300	126	133	0	0	0
Depreciation and amortization
460	436	424	421	427	435	430	421	407	393	378	363	360	351	362	374	380	391	386	381	374	369	444	408	381	334	438	353	253	172	88	135	0	138	156	-10	-7	43	83	69	76	89	105	0	0	0
Amortization of deferred revenues and accretion of accretable yield on acquired loans
406	421	412	406	403	403	402	402	402	399	396	392	395	395	401	409	417	432	445	456	468	474	618	565	514	465	0	0	296	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Net (gain) loss on investments and other assets
-4	-37	-42	-44	-44	-45	-46	-50	-52	-55	-59	-58	-58	-57	-53	-49	-23	26	53	75	79	56	162	150	133	123	28	28	29	26	-0	-3	0	-4	-4	-3	18	18	19	19	-7	-8	-9	0	0	0
Loss on equity method and other investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-15	-14	-12	-11	-13	-9	0	-7	-5	0	0	0	-	-	-	-	-	-	-	-
Loss on premises and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-2	-	-2	-3	-3	-2	-2	-2	-7	-6	-6	-6	0	0	0
Loss on sale of other assets
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	0	-	0	-	0	0	0	-	-	-	-	-	-	-	-
Gain on origination and sale of loans
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	182	206	155	104	47	-1	0	4	5	0	0	0	-	-	-	-	-	-	-	-
Stock-based compensation expense
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	55	53	50	47	46	45	0	45	44	41	38	37	37	38	39	44	44	0	0	0
Gain on purchase of business
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-8	-8	-	-8	7	15	15	15	0	0	0	0	-	-	-	-
Proceeds from sale of mortgage loans originated for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,714	3,562	3,881	3,382	2,811	2,569	2,704	3,423	4,160	4,800	4,416	3,047	1,798	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Net principal disbursed on mortgage loans originated for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	2,519	3,316	3,799	3,332	2,700	2,507	2,463	3,127	3,805	4,439	4,368	3,177	2,021	0	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Other, net
-59	-51	-21	-25	7	-107	281	235	254	361	-48	107	120	113	93	-3	4	-8	171	229	226	275	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Changes in assets and liabilities
Decrease in amounts due from asset securitization
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-541	0	0	0
Net change in loans originated for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-
Decrease (increase) in other assets
-256	202	83	220	287	7	400	315	432	502	350	273	-27	187	-12	73	230	237	289	243	237	238	234	236	205	252	94	81	205	112	184	196	0	-27	22	-61	-117	74	201	244	307	284	104	0	0	0
(Decrease) increase in accrued expenses and other liabilities
-892	209	-588	442	624	-549	743	795	609	622	480	384	-293	234	-38	-191	135	162	108	79	55	73	-23	-685	-652	-269	-184	605	778	349	478	-47	0	156	338	667	201	571	313	-337	231	318	-545	0	0	0
Net cash provided by operating activities
5,541	6,196	5,493	6,280	6,288	5,191	6,054	6,000	5,433	5,208	4,876	4,641	4,280	4,425	4,177	4,007	3,949	3,854	3,810	3,718	3,760	3,826	3,808	3,201	3,154	3,517	3,416	3,625	3,522	3,041	3,001	2,882	0	3,351	3,598	4,267	3,992	4,340	4,218	3,708	4,128	4,204	3,597	0	0	0
Cash flows from investing activities
Maturities of other short-term investments
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,350	0	0	0	-	-	-	0
Purchases of other short-term investments
0	1,000	1,000	1,000	1,000	0	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Maturities of available-for-sale investment securities
263	140	142	822	828	838	848	182	192	200	217	775	1,236	1,342	1,466	931	487	1,517	1,395	1,386	1,372	1,460	1,454	1,474	1,684	1,423	1,588	1,973	2,306	1,783	2,098	1,795	0	1,485	1,327	968	950	987	723	813	739	491	423	0	0	0
Purchases of available-for-sale investment securities
5,327	7,183	8,754	6,669	4,410	2,554	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	390	457	480	336	325	365	369	1,351	1,816	2,481	2,825	0	2,412	2,400	5,672	5,465	5,557	5,285	1,444	1,260	953	683	0	0	0
Maturities of held-to-maturity investment securities
32	31	26	21	20	18	17	18	16	16	19	22	23	24	21	19	20	17	14	9	7	10	11	20	21	29	28	24	21	11	9	10	0	11	18	19	27	26	22	-30	12	11	8	0	0	0
Purchases of held-to-maturity investment securities
68	66	54	54	61	82	82	66	56	40	40	46	57	56	57	51	36	37	58	67	62	53	32	19	10	2	0	1	0	51	52	52	-	52	2	0	0	0	-	-	-	-	1	0	0	0
Proceeds from sale of student loans held for sale
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	269	277	284	0	299	29	0	0	0	-	-	-	-	-	-	-	-
Net principal repaid on loans originated for investment
6,724	7,844	8,010	7,791	8,291	8,480	8,564	8,790	8,752	8,701	8,443	7,445	6,761	5,978	4,516	4,048	3,815	3,479	3,805	4,064	4,658	5,095	5,406	5,038	4,325	3,915	2,304	2,883	2,288	4,085	3,450	3,339	0	3,666	3,958	4,439	3,590	3,128	3,434	3,786	4,592	4,465	7,403	0	0	0
Proceeds from sale of other investments
0	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Purchases of loan receivables
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	136	235	343	399	490	2,958	2,982	0	2,993	3,165	596	464	395	0	0	0	0	-	-	-	-
Purchase of business, net of cash acquired
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0	-0	-	34	401	401	401	366	0	0	0	0	-	-	-	-
Purchases of other investments
76	68	94	81	71	65	54	47	51	65	59	62	64	51	42	40	47	51	50	49	36	60	80	95	112	114	113	95	87	65	121	131	0	117	109	0	0	0	-	-	-	-	-	-	-	-
Decrease in restricted cash - special dividend escrow
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	643	0	0	0	-	-	-	0
Decrease in restricted cash
-	-	-	-	-	-	-	-	-	-	-	-	-	-	849	-656	901	-7	-5	449	-1,054	-76	-80	-232	681	-108	1,935	1,821	324	1,057	-645	-1,347	0	-244	-284	-1,045	118	3,447	125	0	0	0	-	-	-	0
Proceeds from sale of premises and equipment
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1	3	3	-	3	3	-0	-0	0	0	0	-0	0	1	0	0	0
Purchases of premises and equipment
261	284	289	287	278	254	234	233	229	218	208	196	180	179	180	165	172	167	162	160	143	145	156	187	215	231	216	205	176	144	145	117	0	121	111	95	87	62	55	41	41	43	53	0	0	0
Net cash used for investing activities
-11,109	-15,274	-18,033	-15,039	-13,263	-10,579	-9,052	-8,933	-8,863	-8,791	-6,799	-5,889	-4,892	-4,898	-5,683	-4,423	-5,139	-2,868	-2,660	-3,540	-2,755	-4,197	-4,586	-4,093	-3,977	-3,163	-3,554	-2,738	-4,198	-5,693	-6,224	-8,134	0	-6,901	-8,110	-8,414	-7,306	-4,031	-5,068	-2,520	-1,744	-3,955	-6,160	0	0	0
Cash flows from financing activities
Net decrease in short-term borrowings
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-113	-139	24	42	-27	14	-142	-210	-231	-212	175	247	234	150	-100	0	-100	50	100	100	100	0	0	0	0	-	-	-	0
Proceeds from issuance of securitized debt
2,278	3,519	3,717	3,816	4,341	4,766	3,893	4,291	5,435	5,059	4,286	4,189	3,369	3,070	4,251	3,058	3,016	2,975	2,950	4,149	4,349	5,049	5,249	4,600	4,600	4,650	4,000	6,550	6,550	5,850	6,299	4,199	0	4,199	3,700	3,300	2,300	1,550	1,800	0	0	0	-	-	-	0
Maturities and repayment of securitized debt
3,936	6,287	6,837	6,180	5,513	4,447	5,132	4,645	5,828	4,959	5,091	4,104	3,364	3,419	2,374	3,629	3,531	3,634	3,391	3,157	3,409	4,678	4,691	4,027	5,091	3,638	3,640	6,111	4,541	3,752	4,277	2,611	0	4,034	5,744	5,865	4,826	7,987	9,311	0	0	0	-	-	-	0
Proceeds from issuance of other long-term borrowings
1,240	1,340	1,339	1,984	2,007	2,233	2,264	921	944	1,127	1,120	2,099	2,089	1,122	1,130	1,113	2,328	2,789	3,258	2,996	1,746	1,646	1,643	1,393	1,393	1,744	1,248	750	750	0	-	-	0	-	-	-	-	-	-	-	-	-	-	-	-	-
Maturities and repayment of other long-term borrowings
284	286	1,086	1,010	1,008	1,756	757	756	1,155	404	0	0	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Repayment of long-term borrowings and bank notes
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	13	29	40	0	59	362	0	0	0	-	-	-	173	404	0	0	0
Proceeds from issuance of common stock
7	7	7	7	6	6	6	6	6	5	6	4	7	7	7	7	5	5	4	6	5	5	5	8	9	13	21	18	28	26	21	30	0	24	23	18	8	1	1	0	0	0	-	-	-	-
Purchases of treasury stock
1,624	1,768	1,832	1,873	1,968	2,065	2,155	2,251	2,145	2,081	2,004	2,029	2,005	1,908	1,865	1,719	1,718	1,715	1,679	1,866	1,619	1,564	1,511	1,238	1,400	1,296	1,352	1,355	1,462	1,216	1,042	892	0	445	436	207	7	7	8	9	10	10	11	0	0	0
Net increase in deposits
4,462	4,945	7,306	8,016	7,769	8,961	7,510	8,795	7,562	6,753	6,880	4,328	5,057	4,453	2,699	2,267	2,102	1,510	1,219	1,879	1,444	1,137	2,281	1,873	2,621	2,782	769	975	2,163	2,539	4,695	6,296	0	5,262	5,142	3,314	194	-1,172	1,344	3,703	4,898	6,723	3,572	0	0	0
Dividend paid to Morgan Stanley
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	775	0	0	0	-	-	-	0
Dividends paid on common and preferred stock
577	573	571	567	544	552	538	540	542	527	518	511	512	514	516	515	525	515	504	493	480	467	453	440	426	399	344	289	234	209	199	176	0	152	110	80	62	54	70	85	99	98	101	0	0	0
Net cash provided by financing activities
1,566	897	2,043	4,193	5,090	7,146	5,079	5,809	4,265	4,961	4,276	3,575	4,641	2,811	3,332	438	1,511	1,302	1,718	3,538	2,078	1,101	2,537	2,027	1,487	3,616	864	1,087	3,769	3,728	5,503	6,590	0	4,694	2,263	188	-3,249	-7,865	-7,072	-4,100	-1,743	3,754	5,412	0	0	0
Net increase in cash, cash equivalents and restricted cash
-4,002	-8,181	-10,497	-4,566	-1,885	1,758	2,081	2,876	835	1,378	2,353	2,327	4,029	2,338	1,826	22	321	2,288	2,868	3,716	3,083	730	1,759	1,135	664	3,970	727	1,973	3,093	1,076	2,279	1,338	0	1,143	-2,249	-3,958	-6,562	-7,556	-7,922	-2,912	640	4,004	2,849	0	0	0
Supplemental disclosures of cash flow information
Cash paid during the period for
Interest Paid, Excluding Capitalized Interest, Operating Activities
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,203	1,194	1,244	0	1,248	1,342	1,372	1,421	1,465	1,452	1,462	1,388	1,309	1,266	0	0	0
Income Taxes Paid, Net
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	1,301	1,238	1,180	0	913	906	692	489	193	169	494	672	928	913	0	0	0
Non-cash investing and financing transactions:
Assumption of debt by buyer related to loans sold
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	425	424	424	0	424	0	0	0	0	-	-	-	-	-	-	-	-
Post-closing adjustment payable - SLC acquisition
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	0	-	-	-	0	-	-	-	0	-	-	-	-
Assumption of SLC debt
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-0	-0	-	-0	2,921	2,921	2,921	2,921	0	0	0	0	-	-	-	-
Special dividend - Morgan Stanley (non-cash)
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-34	482	409	369	335	0	0	0