2020 Q4 Form 10-Q Financial Statement

#000139361220000040 Filed on October 26, 2020

View on sec.gov

Income Statement

Concept 2020 Q4 2020 Q3 2019 Q3
Revenue $2.760B $2.681B $3.040B
YoY Change -9.18% -11.81% 9.31%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $111.0M $96.00M
YoY Change 15.63% 7.87%
% of Gross Profit
Depreciation & Amortization $123.0M $116.0M $113.0M
YoY Change 1.65% 2.65% 2.73%
% of Gross Profit
Operating Expenses $111.0M $96.00M
YoY Change 15.63% 7.87%
Operating Profit
YoY Change
Interest Expense $383.0M $416.0M $638.0M
YoY Change -37.72% -34.8% 14.34%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $1.015B $959.0M $994.0M
YoY Change 9.85% -3.52% 2.79%
Income Tax $216.0M $188.0M $224.0M
% Of Pretax Income 21.28% 19.6% 22.54%
Net Earnings $799.0M $771.0M $770.0M
YoY Change 12.85% 0.13% 6.94%
Net Earnings / Revenue 28.95% 28.76% 25.33%
Basic Earnings Per Share $2.59 $2.45 $2.36
Diluted Earnings Per Share $2.59 $2.45 $2.36
COMMON SHARES
Basic Shares Outstanding 306.5M shares 306.0M shares 317.0M shares
Diluted Shares Outstanding 306.0M shares 317.0M shares

Balance Sheet

Concept 2020 Q4 2020 Q3 2019 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $23.48B $30.37B $16.72B
YoY Change 34.01% 81.58% -6.15%
Cash & Equivalents $13.56B $9.513B $6.075B
Short-Term Investments $9.914B $20.85B $10.65B
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $1.027B $1.121B $1.028B
YoY Change -2.84% 9.05% 14.73%
Goodwill $255.0M $255.0M $255.0M
YoY Change 0.0% 0.0% 0.0%
Intangibles $95.00M $95.00M $159.0M
YoY Change -38.71% -40.25% -1.85%
Long-Term Investments $353.0M $323.0M $321.0M
YoY Change 5.06% 0.62% 22.05%
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $112.9B $124.3B $110.8B
YoY Change -0.97% 12.24% 4.67%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $3.860B $3.541B $3.594B
YoY Change 4.61% -1.47% -13.48%
Deferred Revenue
YoY Change
Short-Term Debt $10.70B
YoY Change
Long-Term Debt Due $4.217B $550.0M $200.0M
YoY Change -19.63% 175.0% -87.09%
Total Short-Term Liabilities $8.077B $4.091B $3.794B
YoY Change -9.62% 7.83% -33.47%
LONG-TERM LIABILITIES
Long-Term Debt $17.02B $21.29B $24.25B
YoY Change -16.77% -12.22% -4.7%
Other Long-Term Liabilities
YoY Change
Total Long-Term Liabilities $17.02B $21.29B $24.25B
YoY Change -16.77% -12.22% -4.7%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.077B $4.091B $3.794B
Total Long-Term Liabilities $17.02B $21.29B $24.25B
Total Liabilities $102.0B $114.1B $99.07B
YoY Change -0.13% 15.17% 4.47%
SHAREHOLDERS EQUITY
Retained Earnings $19.96B $19.29B $20.72B
YoY Change -6.27% -6.89% 12.89%
Common Stock $6.000M $6.000M $6.000M
YoY Change 0.0% 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost) $14.44B $14.43B $13.69B
YoY Change 2.47% 5.44% 15.45%
Treasury Stock Shares 261.3M shares 261.2M shares 251.6M shares
Shareholders Equity $10.88B $10.25B $11.72B
YoY Change
Total Liabilities & Shareholders Equity $112.9B $124.3B $110.8B
YoY Change -0.97% 12.24% 4.67%

Cashflow Statement

Concept 2020 Q4 2020 Q3 2019 Q3
OPERATING ACTIVITIES
Net Income $799.0M $771.0M $770.0M
YoY Change 12.85% 0.13% 6.94%
Depreciation, Depletion And Amortization $123.0M $116.0M $113.0M
YoY Change 1.65% 2.65% 2.73%
Cash From Operating Activities $1.633B $1.296B $819.0M
YoY Change 11.54% 58.24% -49.0%
INVESTING ACTIVITIES
Capital Expenditures -$55.00M -$53.00M -$61.00M
YoY Change -23.61% -13.11% 3.39%
Acquisitions
YoY Change
Other Investing Activities $3.751B -$5.522B -$5.969B
YoY Change -225.75% -7.49% 100.5%
Cash From Investing Activities $3.696B -$5.575B -$6.030B
YoY Change -220.98% -7.55% 98.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -1.829B -799.0M -30.00M
YoY Change -174.87% 2563.33% -101.42%
NET CHANGE
Cash From Operating Activities 1.633B 1.296B 819.0M
Cash From Investing Activities 3.696B -5.575B -6.030B
Cash From Financing Activities -1.829B -799.0M -30.00M
Net Change In Cash 3.500B -5.078B -5.241B
YoY Change 310.8% -3.11% -859.57%
FREE CASH FLOW
Cash From Operating Activities $1.633B $1.296B $819.0M
Capital Expenditures -$55.00M -$53.00M -$61.00M
Free Cash Flow $1.688B $1.349B $880.0M
YoY Change 9.9% 53.3% -47.15%

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CY2020Q3 us-gaap Noninterest Expense
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1005000000 USD
CY2019Q3 us-gaap Noninterest Expense
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1107000000 USD
us-gaap Noninterest Expense
NoninterestExpense
3241000000 USD
us-gaap Noninterest Expense
NoninterestExpense
3209000000 USD
CY2020Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
959000000 USD
CY2019Q3 us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
994000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
420000000 USD
us-gaap Income Loss From Continuing Operations Before Income Taxes Minority Interest And Income Loss From Equity Method Investments
IncomeLossFromContinuingOperationsBeforeIncomeTaxesMinorityInterestAndIncomeLossFromEquityMethodInvestments
2911000000 USD
CY2020Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
188000000 USD
CY2019Q3 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
224000000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
78000000 USD
us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
662000000 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
771000000 USD
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
770000000 USD
us-gaap Net Income Loss
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342000000 USD
us-gaap Net Income Loss
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2249000000 USD
CY2020Q3 dfs Net Income Loss Allocated To Common Stockholders
NetIncomeLossAllocatedToCommonStockholders
751000000 USD
CY2019Q3 dfs Net Income Loss Allocated To Common Stockholders
NetIncomeLossAllocatedToCommonStockholders
749000000 USD
dfs Net Income Loss Allocated To Common Stockholders
NetIncomeLossAllocatedToCommonStockholders
309000000 USD
dfs Net Income Loss Allocated To Common Stockholders
NetIncomeLossAllocatedToCommonStockholders
2203000000 USD
CY2020Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.45
CY2019Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
2.36
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.00
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
6.83
CY2020Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.45
CY2019Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
2.36
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.00
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
6.82
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
771000000 USD
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
770000000 USD
us-gaap Net Income Loss
NetIncomeLoss
342000000 USD
us-gaap Net Income Loss
NetIncomeLoss
2249000000 USD
CY2020Q3 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
-32000000 USD
CY2019Q3 us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
17000000 USD
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
208000000 USD
us-gaap Other Comprehensive Income Availableforsale Securities Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeAvailableforsaleSecuritiesAdjustmentNetOfTaxPortionAttributableToParent
119000000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax Parent
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent
3000000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax Parent
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent
-8000000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax Parent
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent
4000000 USD
us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax Parent
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTaxParent
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CY2020Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
0 USD
CY2019Q3 us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
0 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
0 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPortionAttributableToParent
-1000000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-29000000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
9000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
212000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
82000000 USD
CY2020Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
742000000 USD
CY2019Q3 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
779000000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
554000000 USD
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
2331000000 USD
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
11493000000 USD
CY2019Q3 us-gaap Net Income Loss
NetIncomeLoss
770000000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
9000000 USD
CY2019Q3 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
419000000 USD
CY2019Q3 us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
3000000 USD
CY2019Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
18000000 USD
CY2019Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.44
CY2019Q3 us-gaap Dividends Common Stock
DividendsCommonStock
142000000 USD
CY2019Q3 us-gaap Preferred Stock Dividends Per Share Declared
PreferredStockDividendsPerShareDeclared
2750
CY2019Q3 us-gaap Dividends Preferred Stock
DividendsPreferredStock
15000000 USD
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
11717000000 USD
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
9643000000 USD
CY2020Q3 us-gaap Net Income Loss
NetIncomeLoss
771000000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
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CY2020Q3 us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
3000000 USD
CY2020Q3 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
16000000 USD
CY2020Q3 us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
0 USD
CY2020Q3 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.44
CY2020Q3 us-gaap Dividends Common Stock
DividendsCommonStock
137000000 USD
CY2020Q3 us-gaap Preferred Stock Dividends Per Share Declared
PreferredStockDividendsPerShareDeclared
2750
CY2020Q3 us-gaap Dividends Preferred Stock
DividendsPreferredStock
15000000 USD
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
10252000000 USD
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
11130000000 USD
us-gaap Net Income Loss
NetIncomeLoss
2249000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
82000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
1367000000 USD
us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
6000000 USD
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
52000000 USD
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.24
us-gaap Dividends Common Stock
DividendsCommonStock
404000000 USD
us-gaap Preferred Stock Dividends Per Share Declared
PreferredStockDividendsPerShareDeclared
5500
us-gaap Dividends Preferred Stock
DividendsPreferredStock
31000000 USD
CY2019Q3 us-gaap Stockholders Equity
StockholdersEquity
11717000000 USD
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
11859000000 USD
dfs Cumulative Effectof Asu No.201613 Adoption
CumulativeEffectofASUNo.201613Adoption
1902000000 USD
us-gaap Net Income Loss
NetIncomeLoss
342000000 USD
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
212000000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
343000000 USD
us-gaap Stock Issued During Period Value Employee Benefit Plan
StockIssuedDuringPeriodValueEmployeeBenefitPlan
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us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
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us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
493000000 USD
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
1.32
us-gaap Dividends Common Stock
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407000000 USD
us-gaap Preferred Stock Dividends Per Share Declared
PreferredStockDividendsPerShareDeclared
5500
us-gaap Dividends Preferred Stock
DividendsPreferredStock
31000000 USD
CY2020Q3 us-gaap Stockholders Equity
StockholdersEquity
10252000000 USD
us-gaap Net Income Loss
NetIncomeLoss
342000000 USD
us-gaap Net Income Loss
NetIncomeLoss
2249000000 USD
us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
4603000000 USD
us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
2395000000 USD
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
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us-gaap Other Depreciation And Amortization
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us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
106000000 USD
us-gaap Payments To Acquire Available For Sale Securities Debt
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us-gaap Other Depreciation And Amortization
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dfs Amortizationofdeferredrevenuesandaccretionofaccretableyieldonacquiredloans
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245000000 USD
dfs Amortizationofdeferredrevenuesandaccretionofaccretableyieldonacquiredloans
Amortizationofdeferredrevenuesandaccretionofaccretableyieldonacquiredloans
311000000 USD
us-gaap Gain Loss On Disposition Of Assets1
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40000000 USD
us-gaap Gain Loss On Disposition Of Assets1
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us-gaap Other Operating Activities Cash Flow Statement
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us-gaap Other Operating Activities Cash Flow Statement
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59000000 USD
us-gaap Increase Decrease In Other Operating Assets
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us-gaap Increase Decrease In Other Operating Assets
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33000000 USD
us-gaap Increase Decrease In Other Operating Liabilities
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us-gaap Increase Decrease In Other Operating Liabilities
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123000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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4563000000 USD
us-gaap Net Cash Provided By Used In Operating Activities
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4732000000 USD
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
8046000000 USD
us-gaap Payments To Acquire Short Term Investments
PaymentsToAcquireShortTermInvestments
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us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
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us-gaap Payments To Acquire Available For Sale Securities Debt
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us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
34000000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
21000000 USD
us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
44000000 USD
us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
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us-gaap Payments For Proceeds From Loans Receivable
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us-gaap Payments For Proceeds From Loans Receivable
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us-gaap Proceeds From Sale And Maturity Of Other Investments
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us-gaap Proceeds From Sale And Maturity Of Other Investments
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us-gaap Payments To Acquire Other Investments
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us-gaap Payments To Acquire Other Investments
PaymentsToAcquireOtherInvestments
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
206000000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
212000000 USD
us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Proceeds From Issuance Of Secured Debt
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us-gaap Proceeds From Issuance Of Secured Debt
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us-gaap Repayments Of Secured Debt
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us-gaap Repayments Of Secured Debt
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us-gaap Proceeds From Issuance Of Unsecured Debt
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us-gaap Proceeds From Issuance Of Unsecured Debt
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us-gaap Repayments Of Unsecured Debt
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us-gaap Repayments Of Unsecured Debt
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Payments For Repurchase Of Common Stock
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343000000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1367000000 USD
us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
5245000000 USD
us-gaap Increase Decrease In Deposits
IncreaseDecreaseInDeposits
3231000000 USD
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
493000000 USD
us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
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us-gaap Payments Of Ordinary Dividends
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424000000 USD
us-gaap Payments Of Ordinary Dividends
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420000000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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744000000 USD
us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
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3125000000 USD
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
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CY2019Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2018Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2020Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2019Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2020Q3 us-gaap Restricted Cash And Cash Equivalents
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576000000 USD
CY2019Q3 us-gaap Restricted Cash And Cash Equivalents
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37000000 USD
CY2020Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
10089000000 USD
CY2019Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6112000000 USD
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2 segment
us-gaap Use Of Estimates
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The preparation of financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the amounts reported in the condensed consolidated financial statements and related disclosures. These estimates are based on information available as of the date of the condensed consolidated financial statements. The Company believes that the estimates used in the preparation of the condensed consolidated financial statements are reasonable. Actual results could differ from these estimates.
CY2020Q3 us-gaap Other Short Term Investments
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8048000000 USD
CY2019Q4 us-gaap Other Short Term Investments
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CY2020Q3 us-gaap Marketable Securities
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CY2019Q4 us-gaap Marketable Securities
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CY2020Q3 us-gaap Securities Loaned
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11400000000 USD
CY2020Q3 us-gaap Securities Received As Collateral
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11600000000 USD
CY2020Q3 dfs Dfs Fair Value Above Ust Bills Lent
Dfs_FairValueAboveUSTBillsLent
1.02
CY2020Q3 us-gaap Securities Received As Collateral
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CY2020Q3 us-gaap Collateral Securities Repledged Delivered Or Used
CollateralSecuritiesRepledgedDeliveredOrUsed
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CY2020Q3 us-gaap Securities Received As Collateral
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CY2020Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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20148000000 USD
CY2020Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
425000000 USD
CY2020Q3 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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CY2020Q3 us-gaap Available For Sale Securities Debt Securities
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CY2020Q3 us-gaap Held To Maturity Securities
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281000000 USD
CY2020Q3 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Gain
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9000000 USD
CY2020Q3 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Loss
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CY2020Q3 us-gaap Held To Maturity Securities Fair Value
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CY2019Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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158000000 USD
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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8000000 USD
CY2019Q4 us-gaap Available For Sale Securities Debt Securities
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CY2019Q4 us-gaap Held To Maturity Securities
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CY2019Q4 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Gain
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CY2019Q4 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Loss
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CY2019Q4 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
274000000 USD
us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
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CY2020Q3 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
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us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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CY2019Q3 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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CY2019Q3 us-gaap Debt Securities Available For Sale Realized Gain Loss
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us-gaap Proceeds From Sale Of Available For Sale Securities Debt
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us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
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CY2020Q3 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
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CY2020Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
1880000000 USD
CY2020Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
7308000000 USD
CY2020Q3 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost
291000000 USD
CY2020Q3 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost
10669000000 USD
CY2020Q3 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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20148000000 USD
CY2020Q3 us-gaap Held To Maturity Securities Debt Maturities Within One Year Net Carrying Amount
HeldToMaturitySecuritiesDebtMaturitiesWithinOneYearNetCarryingAmount
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CY2020Q3 us-gaap Held To Maturity Securities Debt Maturities After One Through Five Years Net Carrying Amount
HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughFiveYearsNetCarryingAmount
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CY2020Q3 us-gaap Held To Maturity Securities Debt Maturities After Five Through Ten Years Net Carrying Amount
HeldToMaturitySecuritiesDebtMaturitiesAfterFiveThroughTenYearsNetCarryingAmount
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CY2020Q3 us-gaap Held To Maturity Securities Debt Maturities After Ten Years Net Carrying Amount
HeldToMaturitySecuritiesDebtMaturitiesAfterTenYearsNetCarryingAmount
281000000 USD
CY2020Q3 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
281000000 USD
CY2020Q3 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
1900000000 USD
CY2020Q3 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
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CY2020Q3 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
300000000 USD
CY2020Q3 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
10669000000 USD
CY2020Q3 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
20573000000 USD
CY2020Q3 us-gaap Held To Maturity Securities Debt Maturities Within One Year Fair Value
HeldToMaturitySecuritiesDebtMaturitiesWithinOneYearFairValue
0 USD
CY2020Q3 us-gaap Held To Maturity Securities Debt Maturities After One Through Five Years Fair Value
HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
0 USD
CY2020Q3 us-gaap Held To Maturity Securities Debt Maturities After Five Through Ten Years Fair Value
HeldToMaturitySecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
0 USD
CY2020Q3 us-gaap Held To Maturity Securities Debt Maturities After Ten Years Fair Value
HeldToMaturitySecuritiesDebtMaturitiesAfterTenYearsFairValue
290000000 USD
CY2020Q3 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
290000000 USD
CY2020Q3 us-gaap Amortization Method Qualified Affordable Housing Project Investments
AmortizationMethodQualifiedAffordableHousingProjectInvestments
292000000 USD
CY2019Q4 us-gaap Amortization Method Qualified Affordable Housing Project Investments
AmortizationMethodQualifiedAffordableHousingProjectInvestments
298000000 USD
CY2020Q3 us-gaap Qualified Affordable Housing Project Investments Commitment
QualifiedAffordableHousingProjectInvestmentsCommitment
45000000 USD
CY2019Q4 us-gaap Qualified Affordable Housing Project Investments Commitment
QualifiedAffordableHousingProjectInvestmentsCommitment
59000000 USD
dfs Loan Portfolio Segments
LoanPortfolioSegments
2 segment
dfs Loan Portfolio Segments
LoanPortfolioSegments
2 segment
CY2020Q3 us-gaap Notes Receivable Gross
NotesReceivableGross
88660000000 USD
CY2019Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
95894000000 USD
CY2020Q3 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
8226000000 USD
CY2019Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
3383000000 USD
CY2020Q3 us-gaap Notes Receivable Net
NotesReceivableNet
80434000000 USD
CY2019Q4 us-gaap Notes Receivable Net
NotesReceivableNet
92511000000 USD
CY2020Q3 dfs Revolving Lineof Credit Arrangement Convertedto Term Loanthrough Loan Modification Program Ending Balance
RevolvingLineofCreditArrangementConvertedtoTermLoanthroughLoanModificationProgramEndingBalance
1000000000.0 USD
CY2019Q4 dfs Revolving Lineof Credit Arrangement Convertedto Term Loanthrough Loan Modification Program Ending Balance
RevolvingLineofCreditArrangementConvertedtoTermLoanthroughLoanModificationProgramEndingBalance
956000000 USD
CY2020Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
8184000000 USD
CY2020Q3 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
710000000 USD
CY2020Q3 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
842000000 USD
CY2020Q3 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
174000000 USD
CY2020Q3 us-gaap Financing Receivable Allowance For Credit Loss Writeoff After Recovery
FinancingReceivableAllowanceForCreditLossWriteoffAfterRecovery
668000000 USD
CY2020Q3 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
8226000000 USD
CY2019Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
3202000000 USD
CY2019Q3 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
799000000 USD
CY2019Q3 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
891000000 USD
CY2019Q3 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
189000000 USD
CY2019Q3 us-gaap Financing Receivable Allowance For Credit Loss Writeoff After Recovery
FinancingReceivableAllowanceForCreditLossWriteoffAfterRecovery
702000000 USD
CY2019Q3 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
3299000000 USD
CY2019Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
3383000000 USD
CY2020Q1 dfs Cumulative Effectof Asu No.201613 Adoption
CumulativeEffectofASUNo.201613Adoption
2461000000 USD
CY2020Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
5844000000 USD
us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
4586000000 USD
us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
2767000000 USD
us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
563000000 USD
us-gaap Financing Receivable Allowance For Credit Loss Writeoff After Recovery
FinancingReceivableAllowanceForCreditLossWriteoffAfterRecovery
2204000000 USD
CY2020Q3 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
8226000000 USD
CY2018Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
3041000000 USD
us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
2395000000 USD
us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
2676000000 USD
us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
541000000 USD
us-gaap Financing Receivable Allowance For Credit Loss Writeoff After Recovery
FinancingReceivableAllowanceForCreditLossWriteoffAfterRecovery
2135000000 USD
dfs Financing Receivable Allowancefor Credit Loss Other Adjustment
FinancingReceivableAllowanceforCreditLossOtherAdjustment
2000000 USD
CY2019Q3 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
3299000000 USD
CY2020Q3 us-gaap Off Balance Sheet Credit Loss Liability Credit Loss Expense Reversal
OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal
40000000 USD
us-gaap Off Balance Sheet Credit Loss Liability Credit Loss Expense Reversal
OffBalanceSheetCreditLossLiabilityCreditLossExpenseReversal
17000000 USD
CY2020Q3 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
8200000000 USD
CY2020Q3 dfs Expected Future Unemployment Rate
ExpectedFutureUnemploymentRate
0.11
CY2020Q3 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
8200000000 USD
us-gaap Financing Receivable Allowance For Credit Losses Period Increase Decrease
FinancingReceivableAllowanceForCreditLossesPeriodIncreaseDecrease
4800000000 USD
us-gaap Financing Receivable Allowance For Credit Losses Period Increase Decrease
FinancingReceivableAllowanceForCreditLossesPeriodIncreaseDecrease
2300000000 USD
CY2020Q1 dfs Financing Receivable Allowancefor Credit Loss Reasonableand Supportable Forecast Period
FinancingReceivableAllowanceforCreditLossReasonableandSupportableForecastPeriod
P18M
CY2020Q1 dfs Financing Receivable Allowancefor Credit Loss Reasonableand Supportable Forecast Period
FinancingReceivableAllowanceforCreditLossReasonableandSupportableForecastPeriod
P12M
dfs Financing Receivable Allowancefor Credit Loss Reversion Period
FinancingReceivableAllowanceforCreditLossReversionPeriod
P12M
CY2020Q3 dfs Interest And Fees Accrued Subsequently Charged Off Net Of Recoveries
InterestAndFeesAccruedSubsequentlyChargedOffNetOfRecoveries
114000000 USD
CY2019Q3 dfs Interest And Fees Accrued Subsequently Charged Off Net Of Recoveries
InterestAndFeesAccruedSubsequentlyChargedOffNetOfRecoveries
127000000 USD
dfs Interest And Fees Accrued Subsequently Charged Off Net Of Recoveries
InterestAndFeesAccruedSubsequentlyChargedOffNetOfRecoveries
393000000 USD
dfs Interest And Fees Accrued Subsequently Charged Off Net Of Recoveries
InterestAndFeesAccruedSubsequentlyChargedOffNetOfRecoveries
382000000 USD
CY2020Q3 dfs Fees Accrued Subsequently Charged Off Net Of Recoveries
FeesAccruedSubsequentlyChargedOffNetOfRecoveries
27000000 USD
CY2019Q3 dfs Fees Accrued Subsequently Charged Off Net Of Recoveries
FeesAccruedSubsequentlyChargedOffNetOfRecoveries
29000000 USD
dfs Fees Accrued Subsequently Charged Off Net Of Recoveries
FeesAccruedSubsequentlyChargedOffNetOfRecoveries
95000000 USD
dfs Fees Accrued Subsequently Charged Off Net Of Recoveries
FeesAccruedSubsequentlyChargedOffNetOfRecoveries
90000000 USD
CY2020Q3 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
1567000000 USD
CY2020Q2 us-gaap Preferred Stock Dividend Rate Percentage
PreferredStockDividendRatePercentage
6.125
CY2020Q3 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
657000000 USD
CY2020Q3 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
228000000 USD
CY2019Q4 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
2312000000 USD
CY2019Q4 us-gaap Financing Receivable Recorded Investment90 Days Past Due And Still Accruing
FinancingReceivableRecordedInvestment90DaysPastDueAndStillAccruing
1014000000 USD
CY2019Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
266000000 USD
CY2020Q3 dfs Student Loansin Repayment
StudentLoansinRepayment
5300000000 USD
CY2019Q4 dfs Student Loansin Repayment
StudentLoansinRepayment
5600000000 USD
CY2020Q3 dfs Student Loans In Forbearance
StudentLoansInForbearance
64000000 USD
CY2019Q4 dfs Student Loans In Forbearance
StudentLoansInForbearance
46000000 USD
dfs Financing Receivable Modifications Subsequent Default Numberof Missed Payments
FinancingReceivableModificationsSubsequentDefaultNumberofMissedPayments
2 missed_payments
CY2020Q3 dfs Percentage Of Defaulted Loans That Charged Off
PercentageOfDefaultedLoansThatChargedOff
0.65
CY2019Q3 dfs Percentage Of Defaulted Loans That Charged Off
PercentageOfDefaultedLoansThatChargedOff
0.37
dfs Percentage Of Defaulted Loans That Charged Off
PercentageOfDefaultedLoansThatChargedOff
0.52
dfs Percentage Of Defaulted Loans That Charged Off
PercentageOfDefaultedLoansThatChargedOff
0.38
us-gaap Financing Receivable Allowance For Credit Losses Policy For Uncollectible Amounts
FinancingReceivableAllowanceForCreditLossesPolicyForUncollectibleAmounts
<div style="margin-top:5pt;margin-bottom:5pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:400;line-height:120%;">Allowance for Credit Losses</span></div><div style="text-indent:27pt;margin-bottom:10pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">The Company maintains an allowance for credit losses at a level that is appropriate to absorb credit losses anticipated over the remaining expected life of loan receivables as of the balance sheet date. The estimate of expected credit losses considers uncollectible principal, interest and fees associated with the Company's loan receivables existing as of the balance sheet date. Additionally, the estimate includes expected recoveries of amounts that were either previously charged off or are expected to be charged off. The allowance is evaluated quarterly for appropriateness and is maintained through an adjustment to the provision for credit losses. Charge-offs of principal amounts of loans outstanding are deducted from the allowance and subsequent recoveries of such amounts increase the allowance. Charge-offs of loan balances representing unpaid interest and fees result in a reversal of interest and fee income, respectively, which is effectively a reclassification of the provision for credit losses.</span></div><div style="text-indent:27pt;margin-bottom:10pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">The Company calculates its allowance for credit losses by estimating expected credit losses separately for classes of the loan portfolio with similar risk characteristics, which results in segmenting the portfolio by loan product type. The allowance for credit losses for each loan product type is based on: 1) a reasonable and supportable forecast period, 2) a reversion period and 3) a post-reversion period based on historical information covering the remaining life of the loan, all of which is netted with expected recoveries. The lengths of the reasonable and supportable forecast and reversion periods can vary and are subject to a quarterly assessment that considers the economic outlook and level of variability among macroeconomic forecasts. Generally, a straight-line method is used to revert from the reasonable and supportable forecast period to the post-reversion period, but in certain stressed scenarios, a weighted approach may be deemed more appropriate.</span></div><div style="text-indent:27pt;margin-bottom:10pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">Several analyses are used to help estimate credit losses anticipated over the remaining expected life of loan receivables as of the balance sheet date. The Company's estimation process includes models that predict customer losses based on risk characteristics and portfolio attributes, macroeconomic variables, and historical data and analysis. There is a significant amount of judgment applied in selecting inputs and analyzing the results produced by the models to determine the allowance.</span></div><div style="text-indent:27pt;margin-bottom:10pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">For credit card loans, the Company uses a modeling framework that includes the following components for estimating expected credit losses:</span></div><div style="text-indent:-18pt;padding-left:45pt;margin-top:6pt;margin-bottom:3pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">•</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt;">Probability of default: this model estimates the probability of charge-off at different points in time over the life of each loan.</span></div><div style="text-indent:-18pt;padding-left:45pt;margin-top:6pt;margin-bottom:3pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">•</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt;">Exposure at default: this model estimates the portion of the balance sheet date balance remaining at any given time of charge-off for each loan. Given that there is no stated life of a receivable balance on a revolving credit card account, the Company applies a percentage of expected payments to estimate the portion of the balance that would remain at the time of charge-off.</span></div><div style="text-indent:-18pt;padding-left:45pt;margin-top:6pt;margin-bottom:3pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">•</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt;">Loss given default: this model estimates the percentage of exposure (i.e. net loss) at time of charge-off that cannot be recovered, with the offsetting forecast recoveries being the driver of this estimate.</span></div><div style="text-indent:-18pt;padding-left:45pt;margin-top:6pt;margin-bottom:10pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">•</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;padding-left:14.5pt;">Recoveries from previously charged-off accounts are estimated separately and are netted as part of the aggregation of all of the components of the card loss modeling framework.</span></div><div style="text-indent:27pt;margin-bottom:10pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">For student loans and personal loans, the Company uses vintage-based models that estimate expected credit losses over the life of the loan, net of recovery estimates, impacted mainly by time elapsed since origination, credit quality of origination vintages and macroeconomic forecasts.</span></div><div style="text-indent:27pt;margin-bottom:10pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">The models described above for credit card, student and personal loans are developed utilizing historical data and applicable macroeconomic variable inputs based on statistical analysis and behavioral relationships with credit performance. Expected recoveries from loans charged off as of the balance sheet date are modeled separately and included in the allowance estimate. The Company leverages these models and recent macroeconomic forecasts for the portion of the estimate associated with the reasonable and supportable forecast period. To estimate expected credit losses for the remainder of the life of the credit card loans, the Company reverts to historical experience of credit card loans with characteristics similar to those as of the balance sheet date and observed over various phases of a credit cycle. To estimate expected credit losses for the remainder of the life of student and personal loans, the Company reverts to use of average macroeconomic variables over an appropriate historical period.</span></div><div style="text-indent:27pt;margin-bottom:10pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">The considerations in these models include past and current loan performance, loan growth and seasoning, risk management practices, account collection strategies, economic conditions, bankruptcy filings, policy changes and forecasting uncertainties. Consideration of past and current loan performance includes the post-modification performance of loans modified in a TDR. For the credit card loan portfolio, the Company estimates its credit losses on a loan-level basis, which includes loans that are delinquent and/or no longer accruing interest and/or loans that have been modified under a TDR. For the remainder of its portfolio, including student, personal and other loans, the Company estimates its credit losses on a pooled basis. For all loan types, recoveries are estimated at a pooled level based on estimates of future cash flows derived using historical experience.</span></div><div style="text-indent:27pt;margin-bottom:10pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">Interest on credit card loans is included in the estimate of expected credit losses once billed to the customer (i.e., once the interest becomes part of the loan balance). An allowance for credit losses is measured for accrued interest on all other loans and is presented as part of allowance for credit losses in the consolidated statements of financial condition.</span></div><div style="text-indent:27pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%;">The Company records a liability for expected credit losses for unfunded commitments on all other loans, which is presented as part of accrued expenses and other liabilities in the consolidated statements of financial condition. This liability is evaluated quarterly for appropriateness and is maintained through an adjustment to the provision for credit losses. No liability for expected credit losses is required for unused lines of credit on the Company’s credit card loans because they are unconditionally cancellable.</span></div>
dfs Deposits Source Channels
DepositsSourceChannels
2 channels
CY2020Q3 us-gaap Time Deposits Less Than100000
TimeDepositsLessThan100000
21071000000 USD
CY2019Q4 us-gaap Time Deposits Less Than100000
TimeDepositsLessThan100000
25113000000 USD
CY2020Q3 us-gaap Time Deposits100000 Or More
TimeDeposits100000OrMore
9771000000 USD
CY2019Q4 us-gaap Time Deposits100000 Or More
TimeDeposits100000OrMore
9268000000 USD
CY2020Q3 us-gaap Deposits Savings Deposits
DepositsSavingsDeposits
46096000000 USD
CY2019Q4 us-gaap Deposits Savings Deposits
DepositsSavingsDeposits
37574000000 USD
CY2020Q3 us-gaap Interest Bearing Deposit Liabilities
InterestBearingDepositLiabilities
76938000000 USD
CY2019Q4 us-gaap Interest Bearing Deposit Liabilities
InterestBearingDepositLiabilities
71955000000 USD
CY2020Q3 us-gaap Time Deposits At Or Above Fdic Insurance Limit
TimeDepositsAtOrAboveFDICInsuranceLimit
2800000000 USD
CY2019Q4 us-gaap Time Deposits At Or Above Fdic Insurance Limit
TimeDepositsAtOrAboveFDICInsuranceLimit
2600000000 USD
CY2020Q3 us-gaap Contractual Maturities Time Deposits100000 Or More Three Months Or Less
ContractualMaturitiesTimeDeposits100000OrMoreThreeMonthsOrLess
1734000000 USD
CY2020Q3 us-gaap Contractual Maturities Time Deposits100000 Or More Three Months Through Six Months
ContractualMaturitiesTimeDeposits100000OrMoreThreeMonthsThroughSixMonths
2375000000 USD
CY2020Q3 us-gaap Contractual Maturities Time Deposits100000 Or More Six Months Through12 Months
ContractualMaturitiesTimeDeposits100000OrMoreSixMonthsThrough12Months
3166000000 USD
CY2020Q3 us-gaap Contractual Maturities Time Deposits100000 Or More After12 Months
ContractualMaturitiesTimeDeposits100000OrMoreAfter12Months
2496000000 USD
CY2020Q3 us-gaap Time Deposits100000 Or More
TimeDeposits100000OrMore
9771000000 USD
CY2020Q3 us-gaap Time Deposit Maturities Remainder Of Fiscal Year
TimeDepositMaturitiesRemainderOfFiscalYear
4861000000 USD
CY2020Q3 us-gaap Time Deposit Maturities Year Two
TimeDepositMaturitiesYearTwo
15825000000 USD
CY2020Q3 us-gaap Time Deposit Maturities Year Three
TimeDepositMaturitiesYearThree
4353000000 USD
CY2020Q3 us-gaap Time Deposit Maturities Year Four
TimeDepositMaturitiesYearFour
2214000000 USD
CY2020Q3 us-gaap Time Deposit Maturities Year Five
TimeDepositMaturitiesYearFive
1357000000 USD
CY2020Q3 us-gaap Time Deposit Maturities After Year Five
TimeDepositMaturitiesAfterYearFive
2232000000 USD
CY2020Q3 us-gaap Time Deposits
TimeDeposits
30842000000 USD
CY2020Q3 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
21841000000 USD
CY2019Q4 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
25701000000 USD
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
550000000 USD
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
4232000000 USD
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
5204000000 USD
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
3411000000 USD
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
2630000000 USD
CY2020Q3 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
5814000000 USD
CY2020Q3 us-gaap Long Term Debt And Capital Lease Obligations
LongTermDebtAndCapitalLeaseObligations
21841000000 USD
CY2020Q2 us-gaap Preferred Stock Redemption Amount
PreferredStockRedemptionAmount
1000 USD
CY2020Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
-42000000 USD
CY2020Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
-10000000 USD
CY2020Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
-32000000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
-42000000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
-10000000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
-32000000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAndTax
0 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationTax
0 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Before Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossBeforeReclassificationAfterTax
0 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationBeforeTax
-4000000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationTax
-1000000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss Reclassification After Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossReclassificationAfterTax
-3000000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Before Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationBeforeTax
4000000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationTax
1000000 USD
CY2020Q3 us-gaap Other Comprehensive Income Loss Cash Flow Hedge Gain Loss After Reclassification And Tax
OtherComprehensiveIncomeLossCashFlowHedgeGainLossAfterReclassificationAndTax
3000000 USD
CY2019Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
24000000 USD
CY2019Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodTax
7000000 USD
CY2019Q3 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Net Of Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
17000000 USD
CY2019Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
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CY2019Q3 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
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