Discover Financial Services (DFS) 10-K 23 Feb 24 2023 FY Annual report Financial data

Document and Entity Information

Document and Entity Information Document - USD ($)	12 Months Ended
	Dec. 31, 2023	Feb. 16, 2024	Dec. 31, 2022
Cover [Abstract]
Document type	10-K
Document annual report	true
Document period end date	Dec. 31, 2023
Document transition report	false
Entity file number	001-33378
Entity registrant name	DISCOVER FINANCIAL SERVICES
Entity incorporation, state	DE
Entity tax identification number	36-2517428
Entity address, address line one	2500 Lake Cook Road
Entity address, city or town	Riverwoods
Entity address, state or province	IL
Entity address, postal zip code	60015
Entity phone number, city area code	224
Entity phone number, local phone number	405-0900
Title of 12(b) security	Common Stock, par value $0.01 per share
Trading symbol	DFS
Security exchange name	NYSE
Entity well-known seasoned issuer	Yes
Entity voluntary filers	No
Entity current reporting status	Yes
Entity interactive data current	Yes
Entity filer category	Large Accelerated Filer
Smaller reporting company	false
Emerging growth company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction [Flag]	true
Document Financial Statement Restatement Recovery Analysis [Flag]	false
Entity shell company	false
Entity public float	$ 29,097,770,033
Entity common stock, shares outstanding		250,555,294
Common Stock, par or stated value per share	$ 0.01		$ 0.01
Entity central index key	0001393612
Current fiscal year end date	--12-31
Document fiscal year focus	2023
Document fiscal period focus	FY
Amendment flag	false
Auditor Name	Deloitte & Touche LLP
Auditor Firm ID	34
Auditor Location	Chicago, Illinois

Consolidated Statements of Fina

Consolidated Statements of Financial Condition - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Assets
Cash and cash equivalents	$ 11,685	$ 8,856
Restricted cash	43	41
Investment securities (includes available-for-sale securities of $13,402 and $11,987 reported at fair value with associated amortized cost of $13,451 and $12,167 at December 31, 2023 and 2022, respectively)	13,655	12,208
Loan receivables
Loan receivables	128,409	112,120
Allowance for credit losses	(9,283)	(7,374)
Net loan receivables	119,126	104,746
Premises and equipment, net	1,091	1,003
Goodwill	255	255
Other assets	5,667	4,597
Total assets	151,522	131,706
Deposits
Interest-bearing deposit accounts	107,493	90,151
Non-interest-bearing deposit accounts	1,438	1,485
Total deposits	108,931	91,636
Short-term borrowings	750	0
Long-term borrowings	20,581	20,108
Accrued expenses and other liabilities	6,432	5,618
Total liabilities	136,694	117,362
Commitments, contingencies and guarantees (Notes 15, 18 and 19)
Stockholders’ Equity
Common stock, par value $0.01 per share; 2,000,000,000 shares authorized; 570,837,720 and 569,689,007 shares issued at December 31, 2023 and 2022, respectively	6	6
Preferred stock, par value $0.01 per share; 200,000,000 shares authorized; 10,700 shares issued and outstanding at December 31, 2023 and 2022, respectively	1,056	1,056
Additional paid-in capital	4,553	4,468
Retained earnings	30,448	28,207
Accumulated other comprehensive loss	(225)	(339)
Treasury stock, at cost; 320,734,860 and 302,305,216 shares at December 31, 2023 and 2022, respectively	(21,010)	(19,054)
Total stockholders’ equity	14,828	14,344
Total liabilities and stockholders’ equity	151,522	131,706
Variable Interest Entity, Primary Beneficiary [Member]
Assets
Restricted cash	43	41
Loan receivables
Loan receivables	30,590	25,937
Allowance for credit losses	(1,347)	(1,152)
Other assets	3	3
Short- and long-term borrowings	11,743	10,259
Deposits
Accrued expenses and other liabilities	$ 19	$ 14

Consolidated Statements of Fi_2

Consolidated Statements of Financial Condition (Parenthetical) - USD ($) $ in Millions		Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Available-for-sale investment securities, fair value	[1]	$ 13,402	$ 11,987
Debt Securities, available-for-sale, amortized cost	[1]	$ 13,451	$ 12,167
Common Stock, par or stated value per share		$ 0.01	$ 0.01
Common stock, shares authorized		2,000,000,000	2,000,000,000
Common stock, shares, issued		570,837,720	569,689,007
Preferred Stock, par or stated value per share		$ 0.01	$ 0.01
Preferred stock, shares authorized		200,000,000	200,000,000
Preferred stock, shares issued		10,700	10,700
Preferred stock, shares outstanding		10,700	10,700
Treasury stock, shares		320,734,860	302,305,216
[1] Available-for-sale investment securities are reported at fair value.

Consolidated Statements of Inco

Consolidated Statements of Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Interest income
Credit card loans	$ 14,438	$ 10,632	$ 8,717
Other loans	2,515	1,870	1,734
Investment securities	449	179	182
Other interest income	443	183	18
Total interest income	17,845	12,864	10,651
Interest expense
Deposits	3,886	1,257	661
Short-term borrowings	5	2	0
Long-term borrowings	855	606	473
Total interest expense	4,746	1,865	1,134
Net interest income	13,099	10,999	9,517
Provision for credit losses	6,018	2,359	218
Net interest income after provision for credit losses	7,081	8,640	9,299
Other income
Discount and interchange revenue, net	1,447	1,380	1,188
Protection products revenue	172	172	165
Loan fee income	763	632	464
Transaction processing revenue	303	249	227
(Losses) gains on equity investments	(9)	(214)	424
Other income	85	75	66
Total other income	2,761	2,294	2,534
Other expense
Employee compensation and benefits	2,434	2,139	1,986
Marketing and business development	1,164	1,035	810
Information processing and communications	608	513	500
Professional fees	1,041	871	797
Premises and equipment	89	118	92
Other expense	680	540	620
Total other expense	6,016	5,216	4,805
Income before income taxes	3,826	5,718	7,028
Income tax expense	886	1,344	1,606
Net income	2,940	4,374	5,422
Net income (loss) available to common stockholders, basic	$ 2,859	$ 4,286	$ 5,323
Basic earnings per common share	$ 11.27	$ 15.45	$ 17.75
Diluted earnings per common share	$ 11.26	$ 15.44	$ 17.74

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 2,940	$ 4,374	$ 5,422
Other comprehensive income (loss), net of tax
Unrealized gains (losses) on available-for-sale investment securities, net of tax	99	(250)	(170)
Unrealized gains (losses) on cash flow hedges, net of tax	6	(5)	3
Unrealized pension and post-retirement plan gains, net of tax	9	10	28
Other comprehensive (loss) income, net	114	(245)	(139)
Comprehensive income	$ 3,054	$ 4,129	$ 5,283

Consolidated Statements of Chan

Consolidated Statements of Changes in Stockholders' Equity - USD ($) $ in Millions	Total	Cumulative Effect, Period of Adoption, Adjustment	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Retained Earnings [Member]	Retained Earnings [Member] Cumulative Effect, Period of Adoption, Adjustment	Accumulated Other Comprehensive Loss [Member]	Treasury Stock, Common	Series C Preferred Stock [Member]	Series C Preferred Stock [Member] Retained Earnings [Member]	Series D Preferred Stock [Member]	Series D Preferred Stock [Member] Retained Earnings [Member]
Stockholders' equity, balance at beginning of period at Dec. 31, 2019	$ 11,674					$ 21,105
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	1,125					1,125
Preferred stock, shares outstanding, balance at end of period (in shares) at Dec. 31, 2020			11,000
Common stock, shares outstanding, balance at end of period (in shares) at Dec. 31, 2020				567,898,000
Stockholders' equity, balance at end of period at Dec. 31, 2020	10,683		$ 1,056	$ 6	$ 4,257	19,754		$ 45	$ (14,435)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	5,422					5,422
Other comprehensive loss	(139)							(139)
Purchases of treasury stock	(2,260)								(2,260)
Common stock issued under employee benefit plans (in shares)				88,000
Common stock issued under employee benefit plans	9			$ 0	9
Common stock issued and stock-based compensation expense (in shares)				845,000
Common stock issued and stock-based compensation expense	103			$ 0	103
Dividends — common stock	(569)					(569)
Dividends — preferred stock										$ (31)	$ (31)	$ (38)	$ (38)
Preferred stock, shares outstanding, balance at end of period (in shares) at Dec. 31, 2021			11,000
Common stock, shares outstanding, balance at end of period (in shares) at Dec. 31, 2021				568,831,000
Stockholders' equity, balance at end of period at Dec. 31, 2021	13,180		$ 1,056	$ 6	4,369	24,538		(94)	(16,695)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	4,374					4,374
Other comprehensive loss	(245)							(245)
Purchases of treasury stock	(2,359)								(2,359)
Common stock issued under employee benefit plans (in shares)				107,000
Common stock issued under employee benefit plans	10			$ 0	10
Common stock issued and stock-based compensation expense (in shares)				751,000
Common stock issued and stock-based compensation expense	89			$ 0	89
Dividends — common stock	$ (643)					(643)
Dividends — preferred stock										(31)	(31)	(31)	(31)
Preferred stock, shares outstanding, balance at end of period (in shares) at Dec. 31, 2022	10,700		11,000
Common stock, shares outstanding, balance at end of period (in shares) at Dec. 31, 2022				569,689,000
Stockholders' equity, balance at end of period at Dec. 31, 2022	$ 14,344		$ 1,056	$ 6	4,468	28,207		(339)	(19,054)
Stockholders' equity, balance at end of period (Accounting Standards Update 2022-02 [Member]) at Dec. 31, 2022		$ 52					$ 52
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	2,940					2,940
Other comprehensive loss	114							114
Purchases of treasury stock	(1,956)								(1,956)
Common stock issued under employee benefit plans (in shares)				118,000
Common stock issued under employee benefit plans	11			$ 0	11
Common stock issued and stock-based compensation expense (in shares)				1,031,000
Common stock issued and stock-based compensation expense	74			$ 0	74
Dividends — common stock	$ (689)					(689)
Dividends — preferred stock										$ (31)	$ (31)	$ (31)	$ (31)
Preferred stock, shares outstanding, balance at end of period (in shares) at Dec. 31, 2023	10,700		11,000
Common stock, shares outstanding, balance at end of period (in shares) at Dec. 31, 2023				570,838,000
Stockholders' equity, balance at end of period at Dec. 31, 2023	$ 14,828		$ 1,056	$ 6	$ 4,553	$ 30,448		$ (225)	$ (21,010)

Consolidated Statements of Ch_2

Consolidated Statements of Changes in Stockholders' Equity (Parentheticals) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Common stock, dividends, per share, declared	$ 2.70	$ 2.30	$ 1.88
Series C Preferred Stock [Member]
Preferred stock, dividends per share, declared	5,500	5,500	5,500
Series D Preferred Stock [Member]
Preferred stock, dividends per share, declared	$ 6,125	$ 6,125	$ 7,674

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash flows provided by operating activities
Net income	$ 2,940	$ 4,374	$ 5,422
Adjustments to reconcile net income to net cash provided by operating activities:
Provision for credit losses	6,018	2,359	218
Deferred income taxes	(626)	(433)	318
Depreciation and amortization	458	561	531
Amortization of deferred revenues	(468)	(365)	(295)
Net losses (gains) on investments and other assets	50	261	(382)
Other, net	110	125	257
Changes in assets and liabilities:
Increase in other assets	(658)	(846)	(496)
Increase in accrued expenses and other liabilities	739	1,104	446
Net cash provided by operating activities	8,563	7,140	6,019
Cash flows provided by (used for) investing activities
Maturities of other short-term investments	0	0	2,200
Maturities of available-for-sale investment securities	1,831	2,084	2,727
Purchases of available-for-sale investment securities	(2,996)	(7,682)	(9)
Maturities of held-to-maturity investment securities	16	32	82
Purchases of held-to-maturity investment securities	(49)	(50)	(28)
Net change in principal on loans originated for investment	(19,934)	(19,961)	(4,574)
Proceeds from the sale of available for sale securities	0	0	5
Proceeds from the sale of other investments	44	336	1
Purchases of other investments	(100)	(169)	(170)
Proceeds from sale of premises and equipment	0	9	0
Purchases of premises and equipment	(303)	(236)	(194)
Net cash (used for) provided by investing activities	(21,491)	(25,637)	40
Cash flows (used for) provided by financing activities
Net change in short-term borrowings	750	(1,750)	1,750
Net change in deposits	17,250	19,208	(4,533)
Proceeds from issuance of securitized debt	2,230	5,620	1,727
Maturities and repayment of securitized debt	(1,494)	(4,395)	(3,451)
Proceeds from issuance of other long-term borrowings	2,041	1,265	0
Maturities and repayments of other long-term borrowings	(2,340)	(834)	(922)
Proceeds from issuance of common stock	12	10	9
Dividends paid on common and preferred stock	(752)	(703)	(636)
Purchases of treasury stock	(1,938)	(2,359)	(2,260)
Net cash provided by (used for) financing activities	15,759	16,062	(8,316)
Net increase (decrease) in cash, cash equivalents and restricted cash	2,831	(2,435)	(2,257)
Cash, cash equivalents and restricted cash, at the beginning of the period	8,897	11,332	13,589
Cash, cash equivalents and restricted cash, at the end of the period	11,728	8,897	11,332
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents	11,685	8,856	8,750
Restricted cash	43	41	2,582
Cash paid during the period for:
Interest expense	4,508	1,666	1,077
Income taxes, net of income tax refunds	$ 1,605	$ 1,865	$ 1,305

Background and Basis of Present

Background and Basis of Presentation	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Background and Basis of Presentation	Background and Basis of Presentation Description of Business Discover Financial Services (“DFS” or the “Company”) is a digital banking and payment services company. The Company is a bank holding company under the Bank Holding Company Act of 1956 and a financial holding company under the Gramm-Leach-Bliley Act. Therefore, the Company is subject to oversight, regulation and examination by the Board of Governors of the Federal Reserve System (the “Federal Reserve”). The Company provides digital banking products and services and payment services through its subsidiaries. The Company offers its customers credit card loans, personal loans, home loans and deposit products. The Company also operates the Discover Network, the PULSE network (“PULSE”) and Diners Club International (“Diners Club”), collectively known as the Discover Global Network. The Discover Network processes transactions for Discover-branded credit and debit cards and provides payment transaction processing and settlement services. PULSE operates an electronic funds transfer network, providing financial institutions issuing debit cards on the PULSE network with access to automated teller machines (“ATMs”) domestically and internationally, as well as merchant acceptance throughout the United States of America (“U.S.”) for debit card transactions. Diners Club is a global payments network of licensees, which are generally financial institutions, that issue Diners Club branded credit and charge cards and/or provide card acceptance services. The Company manages its business activities in two segments, Digital Banking and Payment Services, based on the products and services provided. See Note 22: Segment Disclosures for a detailed description of each segment’s operations and the allocation conventions used in business segment reporting. Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the U.S. (“GAAP”). The preparation of financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and related disclosures. These estimates are based on information available as of the date of the consolidated financial statements. The Company believes that the estimates used in the preparation of the consolidated financial statements are reasonable. Actual results could differ from these estimates. Certain prior year amounts have been reclassified to conform to the current year presentation. These reclassifications had no impact on the Company’s consolidated financial condition, results of operations or changes in stockholders’ equity. Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. The Company’s policy is to consolidate all entities in which it owns more than 50% of the outstanding voting stock unless it does not control the entity. However, the Company did not have a controlling voting interest in any entity other than its wholly-owned subsidiaries in the periods presented in the accompanying consolidated financial statements. It is also the Company’s policy to consolidate any VIEs for which the Company is the primary beneficiary, as defined by GAAP. On this basis, the Company consolidates the Discover Card Master Trust I (“DCMT”) and the Discover Card Execution Note Trust (“DCENT”) as well as the student loan securitization trust. The Company is deemed to be the primary beneficiary of each of these trusts since it is, for each, the trust Servicer and the holder of both the residual interest and the majority of the most subordinated interests. Because of those involvements, the Company has, for each trust, (i) the power to direct the activities that most significantly impact the economic performance of the trust and (ii) the obligation (or right) to absorb losses (or receive benefits) of the trust that could potentially be significant. The Company has determined that it was not the primary beneficiary of any other VIE during the years ended December 31, 2023, 2022 and 2021. For investments in any entities in which the Company owns 50% or less of the outstanding voting stock but in which the Company has significant influence over operating and financial decisions, the Company applies the equity method of accounting. The Company also applies the equity method to its investments in qualified affordable housing projects and similar tax credit partnerships. In cases where the Company’s equity investment is less than 20% and significant influence does not exist, such investments are carried at cost as they typically do not have readily determinable fair values, and are adjusted for any impairment in value. Investments in actively traded stock are carried at fair value with changes in fair value recorded as an adjustment to earnings. Immaterial Restatement of Prior Period Financial Statements As reported in the second quarter of 2023, beginning in 2007, the Company incorrectly classified certain credit card accounts into its highest merchant and merchant acquirer pricing tier. The Company determined the revenue impact of the incorrect card product classification was immaterial to the consolidated financial statements for all impacted prior periods. For comparative purposes, the Company has made these corrections to the consolidated financial statements for the prior periods presented in this Form 10-K. Additionally, prior period amounts in the applicable notes to the consolidated financial statements have been corrected. The impacts of the misclassification and subsequent corrections are contained entirely within the Digital Banking segment. See Note 26: Immaterial Restatement of Prior Period Financial Statements for additional information and quantification of the prior period restatement impacts. Recently Issued Accounting Pronouncements (Not Yet Adopted) In December 2023, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures . This ASU enhances the transparency of income tax information through improvements to income tax disclosures primarily related to the rate reconciliation and income taxes paid. Entities are required to disaggregate the rate reconciliation (including percentages and reported amounts) by certain specified categories with additional disaggregation by nature and/or jurisdiction for items over a designated threshold. Income taxes paid (net of refunds received) must be disaggregated by federal (national), state, and foreign taxes and separately by individual jurisdiction in which that amount for a particular jurisdiction is equal to or greater than five percent of total income taxes paid (net of refunds received). This annual disclosure guidance is effective for the Company for the year ending December 31, 2025 and requires prospective application. Retrospective application is also permitted. Management will consider which method is appropriate for the Company. While the ASU implements further income tax disclosure requirements, it does not change how an entity determines its income tax obligation, and it will have no impact on the Company’s consolidated financial condition, results of operations or cash flows. In November 2023, the FASB issued ASU No. 2023-07, Segment Reporting (Topic 280): Improvements to Reportable Segment Disclosures . The ASU requires disclosure of additional segment level information, particularly regarding significant segment expenses. Entities must disclose significant expense categories and amounts that are regularly provided to the chief operating decision maker (“CODM”) and included in the reported segment measure of profit or loss. Other segment items must also be reported, which are those items that make up the difference between segment revenues less significant segment expenses and reported segment profit or loss. Additionally, entities must disclose the identity of the CODM and how they use the reported measures of segment profit or loss for decision making and assessing segment performance. The guidance is effective for the Company for the year ending December 31, 2024, and interim periods thereafter and requires retrospective application. While the ASU implements further segment disclosure requirements, it does not change how an entity identifies its operating or reportable segments, and it will have no impact on the Company’s consolidated financial condition, results of operations or cash flows. In March 2023, the FASB issued ASU No. 2023-02, Investments—Equity Method and Joint Ventures (Topic 323): Accounting for Investments in Tax Credit Structures Using the Proportional Amortization Method . The ASU expands the use of the proportional amortization method of accounting for tax credit investments. Currently, the method is limited to Low Income Housing Tax Credit investments. Under the amended guidance, use of proportional amortization will be available to any qualifying tax credit investments, including but not limited to investments in New Markets Tax Credit and Renewable Energy Tax Credit programs. The ASU is effective for the Company on January 1, 2024. The Company will elect the proportional amortization method for any of its qualifying tax credit investments. Management has chosen a modified-retrospective application, meaning a cumulative-effect adjustment will be recorded to the opening balance of retained earnings as of the effective date without adjusting comparative periods. Management determined that the standard will not have a material impact on the Company’s consolidated financial statements. Recently Adopted Accounting Pronouncement In March 2022, the FASB issued ASU No. 2022-02, Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures . The ASU eliminated the troubled debt restructuring ("TDR") recognition and measurement guidance and enhanced disclosures for modifications of receivables to borrowers experiencing financial difficulty. Under ASU 2022-02, the use of a discounted cash flow method is no longer required when measuring expected credit losses on modified loans. The ASU also refined existing credit-related disclosures by requiring disclosure of current-period gross charge-offs of receivables by year of origination. The amendments in the ASU were applied prospectively to modifications and disclosures of gross charge-offs; however, adoption on a modified retrospective basis was applied for the effect on the allowance for credit losses related to the elimination of the TDR recognition and measurement guidance. The ASU became effective for the Company on January 1, 2023. Upon adoption, the Company recorded an adjustment to reduce the beginning balance of its allowance for credit losses by $68 million to reflect the elimination of the measurement guidance related to TDRs with an offsetting increase, net of tax, to beginning retained earnings.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies Cash and Cash Equivalents Cash and cash equivalents is defined by the Company as cash on deposit with banks, including time deposits and other highly liquid investments with maturities of 90 days or less when purchased, excluding amounts restricted by certain contractual or other obligations. Cash and cash equivalents included $2.0 billion and $1.5 billion of cash and due from banks and $9.7 billion and $7.4 billion of interest-earning deposits at other banks at December 31, 2023 and 2022, respectively. Restricted Cash Restricted cash includes cash in accounts from which the Company’s ability to withdraw funds at any time is contractually limited. Restricted cash is generally designated for specific purposes arising out of certain contractual or other obligations. Investment Securities At December 31, 2023, investment securities consisted of debt obligations of the U.S. Treasury and government-sponsored enterprises of the U.S. (“U.S. GSEs”) and mortgage-backed securities issued by government agencies or U.S. GSEs. Investment securities that the Company has the positive intent and ability to hold to maturity are classified as held-to-maturity and are reported at amortized cost. All other investment securities are classified as available-for-sale, as the Company does not hold investment securities for trading purposes. Available-for-sale investment securities are reported at fair value with unrealized gains and losses, net of tax, reported as a component of accumulated other comprehensive income (“AOCI”) included in stockholders’ equity. The Company estimates the fair value of available-for-sale investment securities as more fully discussed in Note 20: Fair Value Measurements. The amortized cost for each held-to-maturity and available-for-sale investment security is adjusted for amortization of premiums or accretion of discounts, as appropriate. Such amortization or accretion is included in interest income. Interest on investment securities is accrued each month in accordance with their contractual terms and recorded in other assets in the consolidated statements of financial condition. The U.S. Treasury and U.S. GSE obligations and mortgage-backed securities issued by government agencies or U.S. GSEs in which the Company invests have long histories with no credit losses and are explicitly or implicitly guaranteed by the U.S. government. Therefore, management has concluded that there is no expectation of non-payment on its investment securities and does not record an allowance for credit losses on these investments. Loan Receivables Loan receivables consist of credit card receivables and other loan receivables. The carrying values of all classes of loan receivables include unamortized net deferred loan origination fees and costs (also see “— Significant Revenue Recognition Accounting Policies — Loan Interest and Fee Income”). The credit card loan receivables carrying amount includes the principal amounts outstanding and uncollected billed interest and fees and is reduced for unearned revenue related to balance transfer fees (also see “— Significant Revenue Recognition Accounting Policies — Loan Interest and Fee Income”). Other loans consist of private student loans, personal loans and other loans and the carrying amount of those loans includes principal amounts outstanding. For private student loans, principal amounts outstanding also include accrued interest that has been capitalized. The Company’s loan receivables are deemed to be held-for-investment at origination or acquisition because management has the intent and ability to hold them for the foreseeable future. Cash flows associated with loans originated or acquired for investment are classified as cash flows from investing activities, regardless of a subsequent change in intent. Delinquent Loans and Net Charge-Offs The entire balance of an account is contractually past due if the minimum payment is not received by the specified date on the customer’s billing statement. Delinquency is reported on loans that are 30 days or more past due. Credit card loans are charged off at the end of the month during which an account becomes 180 days past due. Closed-end unsecured consumer loan receivables are charged off at the end of the month during which an account becomes 120 days contractually past due. Customer bankruptcies and probate accounts are charged off by the end of the month 60 days following the receipt of notification of the bankruptcy or death, but not later than the 180-day or 120-day time frame described above. Receivables associated with alleged or potential fraudulent transactions are reserved for at their net realizable value upon receipt of notification of such fraud through a charge to other expense and are subsequently written off at the end of the month 90 days following notification, but not later than the contractual 180-day or 120-day time frame described above. The Company’s charge-off policies are designed to comply with guidelines established by the Federal Financial Institutions Examination Council (“FFIEC”). The Company’s net charge-offs include the principal amount of loans charged off less principal recoveries and exclude charged-off interest and fees, recoveries of interest and fees and fraud losses. The practice of re-aging an account also may affect loan delinquencies and charge-offs. A re-age is intended to assist delinquent customers who have experienced financial difficulties but who demonstrate both an ability and willingness to repay. Accounts meeting specific criteria are re-aged when the Company and the customer agree on a temporary repayment schedule that may include concessionary terms. With re-aging, the outstanding balance of a delinquent account is returned to a current status. Customers may also qualify for a workout re-age when either a longer term or permanent hardship exists. The Company’s re-age practices are designed to comply with FFIEC guidelines. Allowance for Credit Losses The Company maintains an allowance for credit losses at a level that is appropriate to absorb net 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. The Company calculates its allowance for credit losses by estimating expected credit losses separately for classes of receivables with similar risk characteristics. This results in segmenting the portfolio by loan product type, which is the level that the Company develops and documents its methodology for determining the allowance for credit losses. The estimate of expected credit losses for each loan product type is based on: (i) a reasonable and supportable forecast period; (ii) a reversion period; and (iii) 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. The Company applies a weighted approach in reverting from the reasonable and supportable forecast period to the post-reversion period. 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. For credit card loans, the Company uses a modeling framework that includes the following components for estimating expected credit losses: • Probability of default: this component estimates the probability of charge-off at different points in time over the life of each loan. • Exposure at default: this component estimates the balance on the loan at the time of default. 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 balance that would remain at the time of charge-off. • Recoveries from 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. • The output of the above three components is adjusted to remove post measurement date activity. For private 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. The components described above for credit card, private student and personal loans are developed utilizing historical data and applicable macroeconomic variable inputs based on statistical analysis and customer 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 private student and personal loans, the Company generally reverts to use of average macroeconomic variables over an appropriate historical period. 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 to borrowers experiencing financial difficulty. 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 restructured. For the remainder of its portfolio, including private 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. Accrued interest receivable 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). Except as noted in the following sentence, an allowance for credit losses is not recorded for unbilled credit card interest or accrued interest receivable on other loan classes as the impact to the allowance for credit losses is not material. Accrued interest receivable on student loans that have not yet entered repayment is included in the estimate of expected 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. 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. As part of certain collection strategies, the Company may modify the terms of loans to customers experiencing financial hardship. Temporary and permanent modifications on credit card and personal loans, as well as temporary modifications on private student loans and certain grants of private student loan forbearance are generally subject to disclosure as loan modifications to borrowers experiencing financial difficulty. Loan receivables that have been modified are subject to the same requirements for the accrual of expected credit loss over their expected remaining lives as described above for unmodified loans. The effects of all loan modifications, whether or not they are subject to disclosure as loan modifications to borrowers experiencing financial difficulty, are reflected in the allowance for credit losses. Premises and Equipment, net Premises and equipment, net, are stated at cost less provisions for impairment and accumulated depreciation and amortization. Accumulated depreciation and amortization is computed using the straight-line method over the estimated useful lives of the assets. The Company periodically reviews the estimated useful lives and may adjust them as necessary. Buildings are depreciated over a period of thirty-nine years. The costs of improvements are capitalized and depreciated either over the asset’s estimated useful life, typically ten years to fifteen years, or over the remaining term of the lease, when applicable. Furniture and fixtures are depreciated over a period of five years to ten years. Equipment is depreciated over three years to ten years. Maintenance and repairs are immediately expensed when incurred, while the costs of significant improvements are capitalized. Purchased software and capitalized costs related to internally developed software are amortized over their useful lives of three years to ten years. Costs incurred during the application development stage related to internally developed software are capitalized. Costs are expensed as incurred during the preliminary project stage and post implementation stage. Once the capitalization criteria as defined in GAAP have been met, external direct costs incurred for materials and services used in developing or obtaining internal-use computer software and payroll and payroll-related costs for employees who are directly associated with the internal-use computer software project (to the extent those employees devoted time directly to the project) are capitalized. Amortization of capitalized costs begins when the software is ready for its intended use. Capitalized software is included in premises and equipment, net in the Company’s consolidated statements of financial condition. See Note 6: Premises and Equipment for further information about the Company’s premises and equipment. Cloud computing arrangements involving the licensing of software that meet certain criteria are recognized as the acquisition of software. Such assets are measured at the present value of the license obligation, if the license is to be paid over time, in addition to any capitalized upfront costs and amortized over the life of the arrangement. Cloud computing arrangements that do not meet the criteria to be recognized as acquired software are accounted for as service contracts. To date, none of the Company’s cloud computing arrangements have met the criteria to be recognized as acquired software. Premises and equipment are subject to impairment testing when events or conditions indicate that the carrying value of the asset may not be fully recoverable from future cash flows. A test for recoverability is done by comparing the asset’s carrying value to the sum of the undiscounted future net cash inflows expected to be generated from the use of the asset over its remaining useful life. Impairment exists if the sum of the undiscounted expected future net cash inflows is less than the carrying amount of the asset. Impairment would result in a write-down of the asset to its estimated fair value. The estimated fair values of these assets are based on the discounted present value of the stream of future net cash inflows expected to be derived over the remaining useful lives of the assets. If an impairment write-down is recorded, the remaining useful life of the asset will be evaluated to determine whether revision of the remaining amortization or depreciation period is appropriate. Goodwill Goodwill is recorded as part of the Company’s acquisitions of businesses when the purchase price exceeds the fair value of the net tangible and separately identifiable intangible assets acquired. The Company’s goodwill is not amortized, but rather is subject to an impairment test at the reporting unit level annually as of October 1, or between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. The Company’s reported goodwill relates to PULSE, which it acquired in 2005. The Company’s goodwill is tested for impairment by comparing the fair value of the reporting unit to its carrying value. If the fair value of the reporting unit exceeds its carrying value, goodwill is not impaired. If the carrying value exceeds its fair value, an impairment loss must be recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. No impairment was identified during the impairment test conducted as of October 1, 2023. Stock-based Compensation The Company measures the cost of services received from employees and non-employee directors in exchange for an award of stock-based compensation based on the grant-date fair value of the award. The cost, net of estimated forfeitures, is recognized over the requisite service period. Awards to employees who are retirement-eligible at any point during the year are amortized over 12 months in accordance with the vesting terms that apply under those circumstances. No compensation cost is recognized for awards that are subsequently forfeited. Advertising Costs The Company expenses television and radio advertising costs in the period in which the advertising is first aired and all other advertising costs as incurred. Advertising costs are recorded in marketing and business development and were $359 million, $307 million and $262 million for the years ended December 31, 2023, 2022 and 2021, respectively. Income Taxes Income tax expense is provided for using the asset and liability method, under which deferred tax assets and liabilities are determined based on the temporary differences between the financial reporting and income tax bases of assets and liabilities using currently enacted tax rates. Deferred tax assets are recognized when their realization is determined to be more likely than not. A valuation allowance is provided if the Company believes it is more likely than not that all or some portion of the deferred tax asset will not be realized. An increase or decrease in the valuation allowance that results from a change in circumstances and which causes a change in management’s judgment about the realizability of the related deferred tax asset is included in the current tax provision. Uncertain tax positions are measured at the highest amount of tax benefit for which realization is judged to be more likely than not. Tax benefits that do not meet these criteria are unrecognized tax benefits. The Company recognizes and reports interest and penalties, if necessary, related to uncertain tax positions within its provision for income tax expense. See Note 15: Income Taxes for more information about the Company’s income taxes. Accumulated Other Comprehensive Income The Company records unrealized gains and losses on available-for-sale securities, changes in the fair value of cash flow hedges and certain pension and foreign currency translation adjustments in other comprehensive income (“OCI”) on an after-tax basis where applicable. The Company’s policy is to adjust the tax effects of a component of AOCI in the same period in which the item is sold or otherwise derecognized, or when the carrying value of the item is remeasured. Details of OCI, net of tax, are presented in the statement of comprehensive income and a roll forward of AOCI is presented in the consolidated statements of changes in stockholders’ equity and Note 13: Accumulated Other Comprehensive Income. Significant Revenue Recognition Accounting Policies Loan Interest and Fee Income Interest on loans is composed largely of interest on credit card loans and is recognized based on the amount of loans outstanding and their contractual interest rate. Interest on credit card loans is included in loan receivables when billed to the customer. The Company accrues unbilled interest revenue each month from a customer’s billing cycle date to the end of the month. The Company applies an estimate of the percentage of loans that will revolve in the next cycle in the estimation of the accrued unbilled portion of interest revenue that is included in other assets on the consolidated statements of financial condition. Interest on other loan receivables is accrued each month in accordance with their contractual terms and recorded in other assets in the consolidated statements of financial condition. The Company recognizes fees (except balance transfer fees and certain product fees) on loan receivables in interest income or loan fee income as the fees are assessed. Balance transfer fees and certain product fees are recognized in interest income or loan fee income ratably over the periods to which they relate. Balance transfer fees are accreted to interest income over the estimated life of the related balance. As of December 31, 2023 and 2022, deferred revenues related to balance transfer fees, recorded as a reduction of loan receivables, were $107 million and $85 million, respectively. Loan fee income consists of fees on credit card loans and includes late, cash advance, returned check and other miscellaneous fees and is reflected net of waivers and charge-offs. Direct loan origination costs on credit card loans are deferred and amortized on a straight-line basis over a one year period and recorded in interest income from credit card loans. Direct loan origination costs on other loan receivables are deferred and amortized over the life of the loan using the interest method and are recorded in interest income from other loans. As of December 31, 2023 and 2022, the remaining unamortized deferred costs related to loan origination were $306 million and $298 million, respectively, and were recorded in loan receivables. The Company accrues interest and fees on credit card and closed-end loan receivables until the loans are paid or charged off, except in instances of customer bankruptcy, death or suspected fraud, where no further interest and fee accruals occur following notification. Upon completion of the fraud investigation, non-fraudulent credit card and closed-end consumer loan receivables may resume accruing interest. Payments received on non-accrual loans are allocated according to the same payment hierarchy applied to loans that are accruing interest. When loan receivables are charged off, unpaid accrued interest and fees are reversed against the income line items in which they were originally recorded in the consolidated statements of income. Charge-offs and recoveries of amounts that relate to capitalized interest on private student loans are treated as principal charge-offs and recoveries, affecting the provision for credit losses rather than interest income. The Company considers uncollectible interest and fee revenues in assessing the adequacy of the allowance for credit losses. Interest income from loans disclosed as modifications to borrowers experiencing financial difficulty is accounted for in the same manner as other accruing loans. Cash collections on these loans are allocated according to the same payment hierarchy applied to loans that have not been modified. Discount and Interchange Revenue The Company earns discount revenue from fees charged to merchants with whom it has entered into card acceptance agreements for processing credit card purchase transactions. The Company earns acquirer interchange revenue primarily from merchant acquirers on Discover Network, Diners Club and PULSE transactions made by credit and debit card customers at merchants with whom merchant acquirers have entered into card acceptance agreements for processing payment card transactions. These card acceptance arrangements generally renew automatically and do not have fixed durations. Under these agreements, the Company stands ready to process payment transactions as and when each is presented. The Company earns discount, interchange and similar fees only when transactions are processed. Contractually defined per-transaction fee amounts typically apply to each type of transaction processed and are recognized as revenue at the time each transaction is captured for settlement. These fees are typically collected by the Company as part of the process of settling transactions daily with merchants and acquirers and are fully earned at the time settlement is made. The Company pays issuer interchange to card-issuing entities that have entered into contractual arrangements to issue cards on the Discover Network and on certain transactions on the Diners Club and PULSE networks. This cost is contractually established and is based on the card-issuing organization’s transaction volume. The Company classifies this cost as a reduction of discount and interchange revenue. Costs of cardholder reward arrangements, including the Cashback Bonus reward program, are classified as reductions of discount and interchange revenue pursuant to guidance under Accounting Standards Codification (“ASC”) Topic 606 governing consideration payable to a customer. For both issuer interchange and transaction-based cardholder rewards, the Company accrues the cost at the time each underlying card transaction is captured for settlement. Customer Rewards The Company offers its customers various reward programs, including the Cashback Bonus reward program, pursuant to which the Company pays certain customers a reward equal to a percentage of their credit card purchase amounts based on the type and volume of the customer’s purchases. The liability for customer rewards is recorded on an individual customer basis and is accumulated as qualified customers earn rewards through their ongoing credit card purchase activity or other defined actions. The Company recognizes customer rewards costs as a reduction of the related revenue, if any. In instances where a reward is not associated with a revenue-generating transaction, such as when a reward is given for opening an account, the reward cost is recorded as an operating expense. For the years ended December 31, 2023, 2022 and 2021, rewards costs amounted to $3.1 billion, $3.0 billion and $2.5 billion, respectively. The liability for customer rewards was $2.2 billion at December 31, 2023 and 2022, and is included in accrued expenses and other liabilities on the consolidated statements of financial condition. Protection Products Revenue The Company earns revenue related to fees received for providing ancillary products and services, including payment protection and identity theft protection services, to its credit card customers. A portion of this revenue comprises amounts earned for arranging for the delivery of products offered by third-party service providers. The amount of revenue recorded is generally based on either a percentage of a customer’s outstanding balance or a flat fee, in either case assessed monthly and recognized as earned. These contracts are month-to-month arrangements that are cancellable at any time. The Company recognizes each monthly fee in the period to which the service or coverage relates. Transaction Processing Revenue Transaction processing revenue represents switch fees charged to financial institutions and merchants under network participation agreements for processing ATM and debit transactions over the PULSE network, as well as various participation and membership fees. Network participation agreements generally renew automatically and do not have fixed durations, although the Company does enter into fixed-term pricing or incentive arrangements with certain network participants. Similar to discount and interchange fees, switch fees are contractually defined per-transaction fee amounts and are assessed and recognized as revenue at the time each transaction is captured for settlement. These fees are typically collected by the Company as part of the process of settling transactions with network participants. Membership and other participation fees are recognized over the periods to which each fee relates. Other Income Other income includes gains and losses on equity investments, sales-based royalty revenues earned by Diners Club, merchant fees, revenues from network partners and other miscellaneous revenue items. Unrealized gains and losses on equity investments carried at fair value are recognized quarterly based on changes in their respective fair values. Sales-based royalty revenues are recognized as the related sales are reported by Diners franchisees. All remaining items of other income are recognized as the related performance obligations are satisfied. Future Revenue Associated with Customer Contracts For contracts under which the Company processes payment card transactions, the Company has the right to assess fees for services performed and to collect those fees through the settlement process. The Company generates essentially all of its discount and interchange revenue and transaction processing revenue, as well as some revenue reported as other income, through such contracts. There is no specified quantity of service promised in these contracts as the number of payment transactions is dependent upon cardholder behavior, which is outside the control of the Company and its network customers (i.e., merchants, acquirers, issuers and other network participants). As noted above, these contracts are typically without fixed durations and renew automatically. For these reasons, the Company does not make or disclose an estimate of revenue associated with performance obligations attributable to the remaining terms of these contracts. Future revenue associated with the Company’s sales-based royalty revenues earned from Diners Club licensees is similarly variable and open-ended and therefore the Company does not make or disclose an estimate of royalties associated with performance obligations attributable to the remaining terms of the licensing and royalty arrangements. Because of the nature of the services and the manner of collection associated with the majority of the Company’s revenue from contracts with customers, material receivables or deferred revenues are not generated. Incentive Payments The Company makes certain incentive payments under contractual arrangements with financial institutions, Diners Club licensees, merchants, acquirers and certain other customers. These payments are generally classified as contra-revenue unless a distinct good or service is received by the Company in exchange for the payment and the fair value of the good or service can be reasonably estimated. If no such good or service is identified, then the entire payment is classified as contra-revenue and included in the consolidated statements of income in the line item where the related revenues are recorded. If the payment gives rise to an asset because it is expected to directly or indirectly contribute to future net cash inflows, it is deferred and recognized over the expected benefit period. The unamortized portion of the deferred incentive payments included in other assets on the consolidated statements of financial condition was $27 million and $32 million at December 31, 2023

Investments

Investments	12 Months Ended
	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Investments	Investments The Company’s other short-term investments and investment securities consist of the following (dollars in millions): December 31, 2023 2022 U.S. Treasury (1) and U.S. GSE (2) securities $ 12,937 $ 11,423 Residential mortgage-backed securities - Agency (3) 718 785 Total investment securities $ 13,655 $ 12,208 (1) $320 million and $97 million of U.S. Treasury securities pledged as swap collateral as of December 31, 2023 and 2022, respectively. (2) Consists of securities issued by the Federal Home Loan Bank (“FHLB”). (3) Consists of securities issued by Fannie Mae, Freddie Mac, or Ginnie Mae. The amortized cost, gross unrealized gains and losses and fair value of available-for-sale and held-to-maturity investment securities are as follows (dollars in millions): Amortized Gross Gross Fair Value December 31, 2023 Available-for-Sale Investment Securities (1) U.S. Treasury and U.S. GSE securities $ 12,971 $ 52 $ (86) $ 12,937 Residential mortgage-backed securities - Agency 480 — (15) 465 Total available-for-sale investment securities $ 13,451 $ 52 $ (101) $ 13,402 Held-to-Maturity Investment Securities (2) Residential mortgage-backed securities - Agency (3) $ 253 $ — $ (19) $ 234 Total held-to-maturity investment securities $ 253 $ — $ (19) $ 234 December 31, 2022 Available-for-Sale Investment Securities (1) U.S. Treasury and U.S. GSE securities $ 11,580 $ 21 $ (178) $ 11,423 Residential mortgage-backed securities - Agency 587 — (23) 564 Total available-for-sale investment securities $ 12,167 $ 21 $ (201) $ 11,987 Held-to-Maturity Investment Securities (2) Residential mortgage-backed securities - Agency (3) $ 221 $ — $ (22) $ 199 Total held-to-maturity investment securities $ 221 $ — $ (22) $ 199 (1) Available-for-sale investment securities are reported at fair value. (2) Held-to-maturity investment securities are reported at amortized cost. (3) Amounts represent residential mortgage-backed securities (“RMBS”) that were classified as held-to-maturity as they were entered into as a part of the Company’s community reinvestment initiatives. The Company invests in U.S. Treasury obligations and securities issued by government agencies or U.S. GSEs, which have long histories with no credit losses and are explicitly or implicitly guaranteed by the U.S. federal government. Therefore, management has concluded that there is no expectation of non-payment on its investment securities and does not record an allowance for credit losses on these investments. In addition, the Company does not have the intent to sell any available-for-sale securities in an unrealized loss position and does not believe it is more likely than not that it will be required to sell any such security before recovery of its amortized cost basis. The following table provides information about available-for-sale investment securities with aggregate gross unrealized losses and the length of time that individual investment securities have been in a continuous unrealized loss position (dollars in millions): Less than 12 months More than 12 months Number of Securities in a Loss Position Fair Value Unrealized Losses Fair Value Unrealized Losses December 31, 2023 Available-for-Sale Investment Securities U.S. Treasury and U.S. GSE securities 105 $ 3,513 $ (13) $ 3,978 $ (73) Residential mortgage-backed securities - Agency 31 $ — $ — $ 465 $ (15) December 31, 2022 Available-for-Sale Investment Securities U.S. Treasury and U.S. GSE securities 123 $ 9,060 $ (175) $ 106 $ (3) Residential mortgage-backed securities - Agency 34 $ 559 $ (22) $ 5 $ (1) During the years ended December 31, 2023 and 2022, the Company had no sales of available-for-sale securities. The Company received $5 million of proceeds from the sale of available-for-sale securities during the year ended December 31, 2021. See Note 13: Accumulated Other Comprehensive Income for unrealized gains and losses on available-for-sale securities during the years ended December 31, 2023, 2022 and 2021. Maturities and weighted-average yields of available-for-sale debt securities and held-to-maturity debt securities are provided in the following tables (dollars in millions): At December 31, 2023 One Year After One After Five After Ten Total Available-for-Sale Investment Securities — Amortized Cost U.S. Treasury and U.S. GSE securities $ 2,127 $ 10,634 $ 210 $ — $ 12,971 Residential mortgage-backed securities - Agency (1) — 73 26 381 480 Total available-for-sale investment securities $ 2,127 $ 10,707 $ 236 $ 381 $ 13,451 Held-to-Maturity Investment Securities — Amortized Cost Residential mortgage-backed securities - Agency (1) $ — $ — $ — $ 253 $ 253 Total held-to-maturity investment securities $ — $ — $ — $ 253 $ 253 Available-for-Sale Investment Securities — Fair Values U.S. Treasury and U.S. GSE securities $ 2,093 $ 10,628 $ 216 $ — $ 12,937 Residential mortgage-backed securities - Agency (1) — 70 25 370 465 Total available-for-sale investment securities $ 2,093 $ 10,698 $ 241 $ 370 $ 13,402 Held-to-Maturity Investment Securities — Fair Values Residential mortgage-backed securities - Agency (1) $ — $ — $ — $ 234 $ 234 Total held-to-maturity investment securities $ — $ — $ — $ 234 $ 234 Available-for-Sale Investment Securities — Weighted-Average Yields (2) U.S. Treasury and U.S. GSE securities 2.14 % 3.87 % 4.37 % — % 3.59 % Residential mortgage-backed securities - Agency (1) — % 2.09 % 3.35 % 3.53 % 3.30 % Total available-for-sale investment securities 2.14 % 3.86 % 4.26 % 3.53 % 3.58 % Held-to-Maturity Investment Securities — Weighted-Average Yields Residential mortgage-backed securities - Agency (1) — % — % — % 3.56 % 3.56 % Total held-to-maturity investment securities — % — % — % 3.56 % 3.56 % (1) Maturities of RMBS are reflective of the contractual maturities of the investment. (2) The weighted-average yield for available-for-sale investment securities is calculated based on the amortized cost. Taxable interest on investment securities was $449 million, $179 million and $182 million for the years ended December 31, 2023, 2022 and 2021, respectively. There was no U.S. federal income tax-exempt interest on investment securities for the years ended December 31, 2023, 2022 and 2021. Other Investments As a part of the Company’s community reinvestment initiatives, the Company has made equity investments in certain limited partnerships and limited liability companies that finance the construction and rehabilitation of affordable rental housing and stimulate economic development in low- to moderate-income communities. These investments are accounted for using the equity method of accounting and are recorded within other assets. The related commitment for future investments is recorded in accrued expenses and other liabilities within the consolidated statements of financial condition. The portion of each investment’s operating results allocable to the Company reduces the carrying value of the investments and is recorded in other expense within the consolidated statements of income. The Company further reduces the carrying value of the investments by recognizing any amounts that are in excess of future net tax benefits in other expense. The Company earns a return primarily through tax credits allocated to the affordable housing projects and the community revitalization projects. The Company does not consolidate these investments as the Company does not have a controlling financial interest in the investee entities. As of December 31, 2023 and 2022, the Company had outstanding investments in these entities of $514 million and $416 million, respectively, and related contingent liabilities for unconditional and legally binding delayed equity contributions of $187 million and $111 million, respectively. Of the above outstanding equity investments, the Company had $456 million and $375 million of investments related to affordable housing projects as of December 31, 2023 and 2022, respectively, which had $155 million and $100 million of related contingent liabilities for unconditional and legally binding delayed equity contributions, respectively. The Company holds non-controlling equity positions in several payment services entities and third-party venture capital funds, which invest in such entities. Most of the direct investments in such entities are not subject to equity method accounting because the Company does not have significant influence over the investee. The Company’s investments in third-party venture capital funds represent limited partnership interests and are accounted for under the equity method. The common or preferred equity securities that the Company holds typically do not have readily determinable fair values. As a result, these investments are carried at cost minus impairment, if any. As of December 31, 2023 and 2022, the carrying value of these investments, which are recorded within other assets on the Company’s consolidated statements of financial condition, was $35 million and $39 million, respectively. The Company also holds non-controlling equity positions in payment service entities that have actively traded stock and therefore have readily determinable fair values. As a result, these investments are carried at fair value based on the quoted share prices. As of December 31, 2023, the carrying values of these investments, which are recorded within other assets on the Company's consolidated statements of financial condition, were immaterial. As of December 31, 2022, the carrying values of these investments were $41 million. During the year ended December 31, 2023, the Company recognized an immaterial net loss on the consolidated statements of income related to these investments. The Company recognized a net loss of $214 million during the year ended December 31, 2022. The Company recognized a net gain of approximately $423 million during the year ended December 31, 2021.

Loan Receivables

Loan Receivables	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
Loan Receivables	Loan Receivables The Company has two loan portfolio segments: credit card loans and other loans. The Company’s classes of receivables within the two portfolio segments are depicted in the following table (dollars in millions): December 31, 2023 2022 Credit card loans (1)(2) $ 102,259 $ 90,113 Other loans (3) Private student loans (4) 10,352 10,308 Personal loans 9,852 7,998 Other loans 5,946 3,701 Total other loans 26,150 22,007 Total loan receivables 128,409 112,120 Allowance for credit losses (9,283) (7,374) Net loan receivables $ 119,126 $ 104,746 (1) Amounts include carrying values of $14.8 billion and $13.5 billion underlying investors’ interest in trust debt at December 31, 2023 and 2022, respectively, and $15.6 billion and $12.2 billion in seller’s interest at December 31, 2023 and 2022, respectively. See Note 5: Credit Card and Private Student Loan Securitization Activities for additional information. (2) Unbilled accrued interest receivable on credit card loans, which is presented as part of other assets in the Company’s consolidated statements of financial condition, was $753 million and $611 million at December 31, 2023 and 2022, respectively. (3) Accrued interest receivable on private student, personal and other loans, which is presented as part of other assets in the Company’s consolidated statements of financial condition, was $522 million, $69 million and $21 million, respectively, at December 31, 2023 and $468 million, $49 million and $11 million, respectively, at December 31, 2022. (4) Private student loans in repayment were $6.3 billion and $6.0 billion at December 31, 2023 and 2022, respectively. Credit Quality Indicators As part of credit risk management activities, on an ongoing basis, the Company reviews information related to the performance of a customer's account with the Company and information from credit bureaus, such as FICO or other credit scores, relating to the customer's broader credit performance. The Company actively monitors key credit quality indicators, including FICO scores and delinquency status, for credit card, private student and personal loans. These indicators are important to understand the overall credit performance of the Company's customers and their ability to repay. FICO scores are generally obtained at the origination of the account and are refreshed monthly or quarterly thereafter to assist in predicting customer behavior. Historically, the Company has noted that accounts with FICO scores below 660 have larger delinquencies and credit losses than those with higher credit scores. The following table provides the distribution of the amortized cost basis (excluding accrued interest receivable presented in other assets) by the most recent FICO scores available for the Company's customers for credit card, private student and personal loan receivables (dollars in millions): Credit Risk Profile by FICO Score December 31, 2023 2022 660 and Above Less than 660 660 and Above Less than 660 $ % $ % $ % $ % Credit card loans $ 82,238 80 % $ 20,021 20 % $ 73,827 82 % $ 16,286 18 % Private student loans by origination year (1) 2023 $ 1,010 94 % $ 69 6 % 2022 1,495 95 % 85 5 % $ 1,172 94 % $ 77 6 % 2021 1,468 94 % 91 6 % 1,668 95 % 81 5 % 2020 1,180 94 % 75 6 % 1,365 95 % 65 5 % 2019 1,039 93 % 76 7 % 1,221 95 % 67 5 % Prior 3,498 93 % 266 7 % 4,306 94 % 286 6 % Total private student loans $ 9,690 94 % $ 662 6 % $ 9,732 94 % $ 576 6 % Personal loans by origination year 2023 $ 5,149 98 % $ 100 2 % 2022 2,604 93 % 187 7 % $ 4,270 98 % $ 77 2 % 2021 1,049 92 % 91 8 % 1,958 96 % 91 4 % 2020 355 92 % 29 8 % 790 95 % 40 5 % 2019 169 88 % 22 12 % 444 92 % 38 8 % Prior 78 80 % 19 20 % 249 86 % 41 14 % Total personal loans $ 9,404 95 % $ 448 5 % $ 7,711 96 % $ 287 4 % (1) FICO score represents the higher credit score of the cosigner or borrower. Delinquencies are an indicator of credit quality at a point in time. A loan balance is considered delinquent when contractual payments on the loan become 30 days past due. The amortized cost basis (excluding accrued interest receivable presented in other assets) of delinquent loans in the Company’s loan portfolio is shown below for credit card, private student and personal loan receivables (dollars in millions): December 31, 2023 2022 30-89 Days 90 or Total Past 30-89 Days 90 or Total Past Credit card loans $ 2,038 $ 1,917 $ 3,955 $ 1,250 $ 1,028 $ 2,278 Private student loans by origination year (1) 2023 $ — $ — $ — 2022 7 2 9 $ — $ — $ — 2021 18 6 24 6 1 7 2020 20 7 27 14 3 17 2019 24 9 33 19 5 24 Prior 132 46 178 128 36 164 Total private student loans $ 201 $ 70 $ 271 $ 167 $ 45 $ 212 Personal loans by origination year 2023 $ 26 $ 8 $ 34 2022 44 16 60 $ 12 $ 3 $ 15 2021 20 8 28 15 6 21 2020 7 2 9 8 2 10 2019 5 2 7 6 2 8 Prior 2 3 5 6 3 9 Total personal loans $ 104 $ 39 $ 143 $ 47 $ 16 $ 63 (1) Private student loans may include a deferment period, during which borrowers are not required to make payments while enrolled in school at least half time as determined by the school. During a deferment period, these loans do not advance into delinquency. Allowance for Credit Losses The following tables provide changes in the Company’s allowance for credit losses (dollars in millions): For the Year Ended December 31, 2023 Credit Card Loans Private Student Personal Loans Other Loans Total Loans Balance at December 31, 2022 $ 5,883 $ 839 $ 595 $ 57 $ 7,374 Cumulative effect of ASU No. 2022-02 adoption (1) (66) — (2) — (68) Balance at January 1, 2023 5,817 839 593 57 7,306 Additions Provision for credit losses (2) 5,476 152 363 28 6,019 Deductions Charge-offs (4,481) (155) (290) (1) (4,927) Recoveries 807 22 56 — 885 Net charge-offs (3,674) (133) (234) (1) (4,042) Balance at December 31, 2023 $ 7,619 $ 858 $ 722 $ 84 $ 9,283 For the Year Ended December 31, 2022 Credit Card Loans Private Student Personal Loans Other Loans Total Loans Balance at December 31, 2021 $ 5,273 $ 843 $ 662 $ 44 $ 6,822 Additions Provision for credit losses (2) 2,233 99 24 13 2,369 Deductions Charge-offs (2,417) (126) (159) — (2,702) Recoveries 794 23 68 — 885 Net charge-offs (1,623) (103) (91) — (1,817) Balance at December 31, 2022 $ 5,883 $ 839 $ 595 $ 57 $ 7,374 For the Year Ended December 31, 2021 Credit Card Loans Private Student Personal Loans Other Loans Total Loans Balance at December 31, 2020 $ 6,491 $ 840 $ 857 $ 38 $ 8,226 Additions Provision for credit losses (2) 229 67 (75) 6 227 Deductions Charge-offs (2,255) (89) (190) — (2,534) Recoveries 808 25 70 — 903 Net charge-offs (1,447) (64) (120) — (1,631) Balance at December 31, 2021 $ 5,273 $ 843 $ 662 $ 44 $ 6,822 (1) Represents the adjustment to the allowance for credit losses as a result of the adoption of ASU No. 2020-02 on January 1, 2023, which eliminated the requirement to apply discounted cash flow measurements for certain troubled debt restructurings. (2) Excludes a $1 million, $10 million and $9 million adjustment to the liability for expected credit losses on unfunded commitments for the years ended December 31, 2023, 2022 and 2021, respectively, as the liability is recorded in accrued expenses and other liabilities in the Company’s consolidated statements of financial condition. The allowance for credit losses was approximately $9.3 billion at December 31, 2023, which reflects a $1.9 billion build from the amount of the allowance for credit losses at December 31, 2022. The build in the allowance for credit losses between December 31, 2023 and December 31, 2022, was primarily driven by loan growth, increasing delinquencies, and macroeconomic variables impacting household cash flows. The allowance estimation process begins with a loss forecast that uses certain macroeconomic variables and multiple macroeconomic scenarios among its inputs. In estimating the allowance at December 31, 2023, the Company used a macroeconomic forecast that projected the following weighted average amounts: (i) unemployment rate ending 2024 at 4.17% and, within the Company’s reasonable and supportable period, peaking at 4.26% in the second quarter of 2025 and (ii) 1.36% growth rate in real gross domestic product in 2024. In estimating expected credit losses, the Company considered the uncertainties associated with borrower behavior and payment trends, as well as recent and expected macroeconomic conditions, such as high consumer price inflation and the fiscal and monetary policy responses to that inflation. The Federal Reserve raised its federal funds rate target range substantially during 2022 and the first three quarters of 2023 in an effort to slow economic growth and reduce inflation. Although real GDP growth and labor market conditions have exceeded most economists’ expectations this year, restrictive monetary policy, as manifested in relatively high interest rates, typically precedes weaker consumer credit conditions caused by rising unemployment as economic growth slows. Credit performance in the Company’s lending portfolios has evolved in line with its expectations this year, but may weaken if the economy fails to avert a recession in response to tighter credit conditions or other factors. The Company assessed the prospects for various macroeconomic outcomes in setting its allowance for credit losses. The forecast period the Company deemed to be reasonable and supportable was 18 months for all periods presented. The 18 months reasonable and supportable forecast period was deemed appropriate given the current economic conditions. For all periods presented, the Company determined that a reversion period of 12 months was appropriate for the same reason. The Company applied a weighted reversion method to provide a more reasonable transition to historical losses for all loan products for all periods presented. The net charge-offs for credit card loans, private student loans and personal loans increased for the year ended December 31, 2023, when compared to the year ended December 31, 2022, primarily due to portfolio seasoning. Net charge-offs of principal are recorded against the allowance for credit losses, as shown in the preceding table. Information regarding net charge-offs of interest and fee revenues on credit card and other loans is as follows (dollars in millions): For the Years Ended December 31, 2023 2022 2021 Interest and fees accrued subsequently charged off, net of recoveries (recorded as a reduction of interest income) $ 681 $ 303 $ 286 Fees accrued subsequently charged off, net of recoveries (recorded as a reduction to other income) $ 192 $ 100 $ 75 Gross principal charge-offs of the Company's loan portfolio are presented in the table below, on a year-to-date basis, for credit card, private student and personal loan receivables (dollars in millions): For the Twelve Months Ended December 31, 2023 Credit card loans $ 4,481 Private student loans by origination year 2023 $ — 2022 4 2021 17 2020 21 2019 24 Prior 89 Total private student loans $ 155 Personal loans by origination year 2023 $ 19 2022 119 2021 81 2020 33 2019 24 Prior 14 Total personal loans $ 290 Delinquent and Non-Accruing Loans The amortized cost basis (excluding accrued interest receivable presented in other assets) of delinquent and non-accruing loans in the Company’s loan portfolio is shown below for each class of loan receivables (dollars in millions): (1) 30-89 Days 90 or Total Past 90 or Total Non-accruing (2) December 31, 2023 Credit card loans $ 2,038 $ 1,917 $ 3,955 $ 1,881 $ 197 Other loans Private student loans 201 70 271 69 8 Personal loans 104 39 143 37 11 Other loans 39 19 58 3 53 Total other loans 344 128 472 109 72 Total loan receivables $ 2,382 $ 2,045 $ 4,427 $ 1,990 $ 269 December 31, 2022 Credit card loans $ 1,250 $ 1,028 $ 2,278 $ 1,003 $ 176 Other loans Private student loans 167 45 212 45 8 Personal loans 47 16 63 16 7 Other loans 13 12 25 1 23 Total other loans 227 73 300 62 38 Total loan receivables $ 1,477 $ 1,101 $ 2,578 $ 1,065 $ 214 (1) The payment status of both modified and unmodified loans is included in this table. (2) The Company estimates that the gross interest income that would have been recorded under the original terms of non-accruing credit card loans was $37 million, $23 million and $28 million for the years ended December 31, 2023, 2022 and 2021, respectively. The Company does not separately track the amount of gross interest income that would have been recorded under the original terms of loans. Instead, the Company estimated this amount based on customers’ current balances and most recent interest rates. Loan Modifications to Borrowers Experiencing Financial Difficulty The Company has internal loan modification programs that provide relief to credit card, private student and personal loan borrowers who are experiencing financial hardship. The internal loan modification programs include both temporary and permanent programs, which vary by product. External loan modification programs, through third party consumer credit counseling agencies, are also available for credit card and personal loans. Those programs feature interest rate reductions, payment delays, term extensions, or a combination thereof. For credit card customers, the Company offers both temporary and permanent hardship programs. The temporary hardship programs consist of an interest rate reduction lasting for a period no longer than 12 months. Charging privileges on these accounts are generally suspended while in the program. However, if the customer meets certain criteria, charging privileges may be reinstated following completion of the program. The permanent modification program involves closing the account, changing the structure of the loan to a fixed payment loan with a maturity no longer than 72 months and reducing the interest rate on the loan. The permanent modification program does not typically provide for the forgiveness of unpaid principal, but may allow for the reversal of certain unpaid interest or fee assessments. The Company also makes permanent loan modifications for customers who request financial assistance through external sources, such as a consumer credit counseling agency program. These loans typically receive a reduced interest rate, typically continue to be subject to the original minimum payment terms and do not normally include waiver of unpaid principal, interest or fees. To assist private student loan borrowers who are experiencing temporary financial difficulties but are willing to resume making payments, the Company has offered a payment delay (in the form of hardship forbearance or temporary payment reduction), or a payment delay (in the form of a temporary payment reduction) combined with a temporary interest rate reduction. During 2023, programs were offered up to six For personal loan customers, the Company offers various payment programs, including temporary and permanent programs, in certain situations. The temporary programs normally consist of reducing the minimum payment for no longer than 12 months and, in certain circumstances, the interest rate on the loan is reduced. The permanent programs involve extending the loan term and, in certain circumstances, reducing the interest rate on the loan. The total term of the loan, including modification, may not exceed nine years. The Company also allows permanent loan modifications for customers who request financial assistance through external sources, similar to the credit card customers discussed above. Payments are modified based on the new terms agreed upon with the credit counseling agency. In addition to the programs described above, the Company will in certain cases accept partial payment in full satisfaction of the outstanding receivable. This is a form of principal forgiveness also known as a settlement. The difference between the loan balance and the amount received in settlement is recorded as a charge-off. The Company monitors borrower performance after using payment programs or forbearance. The Company believes the programs are useful in assisting customers experiencing financial difficulties and allowing them to make timely payments. In addition to helping customers with their credit needs, these programs are designed to maximize collections and ultimately the Company’s profitability. The Company plans to continue to use payment programs to provide relief to customers experiencing financial difficulties. ASU No. 2022-02, Financial Instruments—Credit Losses (Topic 326): Troubled Debt Restructurings and Vintage Disclosures, became effective for the Company on January 1, 2023. The new guidance eliminated Subtopic 310-40, Troubled Debt Restructurings, and implemented enhanced disclosure requirements regarding loan modifications to borrowers experiencing financial difficulty. The new disclosures are required to be applied on a prospective basis. There will be no comparative disclosures to prior periods until such time as both periods disclosed are subject to the new guidance. The following table provides the period-end amortized cost basis, by modification category, of loans to borrowers experiencing financial difficulty that entered a modification program during the period (dollars in millions). Some of the loans presented in the table below may no longer be enrolled in a program at period-end: For the Twelve Months Ended December 31, 2023 Credit card loans (1)(2) Interest rate reduction $ 2,330 Total credit card loans (3) $ 2,330 % of total class of financing receivables 2.28 % Private student loans (1) Payment delay (4) $ 33 Interest rate reduction and payment delay (4) 143 Total private student loans (3) $ 176 % of total class of financing receivables 1.70 % Personal loans (1) Payment delay (4) $ 10 Term extension (5) 29 Interest rate reduction and payment delay (4) 65 Interest rate reduction and term extension (5) 29 Total personal loans (3) $ 133 % of total class of financing receivables 1.35 % (1) Accrued interest receivable (including unbilled accrued interest receivable for credit card loans) on modified loans to borrowers experiencing financial difficulty, which is presented as part of other assets in the Company's condensed consolidated statements of financial condition, was immaterial at December 31, 2023. (2) Accounts that entered a credit card loan modification program include $408 million that were converted from revolving line-of-credit arrangements to term loans during the year ended December 31, 2023. (3) For settlements, the amortized cost basis is zero at period-end and therefore there is no amount reported for principal forgiveness in the table above. See financial effects table below for principal forgiveness to borrowers experiencing financial difficulty. (4) The Company defines a payment delay as a temporary reduction in payments below the original contractually required payment amounts (e.g., interest only payments). The Company's credit card loan modification programs do not result in an other than insignificant delay in payment. (5) The Company defines term extensions as only those modifications for which the maturity date is extended beyond the original contractual maturity date by virtue of a change in terms other than a payment delay as defined above. Modifications to credit card loans are not considered term extensions because credit card loans do not have a fixed repayment term. The only non-cancellable commitments the Company has to lend additional funds to borrowers experiencing financial difficulty relate to certain private student loans. As of December 31, 2023, the amount of such commitments associated with loans modified during the periods presented was immaterial. The following table provides information on the financial effects of loan modifications to borrowers experiencing financial difficulty, by modification type, made during the period (dollars in millions): For the Twelve Months Ended December 31, 2023 Credit card loans Weighted-average interest rate reduction 13.85 % Principal forgiven $ 121 Interest and fees forgiven (1) $ 117 Private student loans Weighted-average interest rate reduction 8.91 % Payment delay duration (in months) (2) 6 to 12 Principal forgiven $ — Personal loans Weighted-average interest rate reduction 12.28 % Weighted-average term extension (in months) 39 Payment delay duration (in months) (2) 6 to 12 Principal forgiven $ — (1) Represents the amount of interest and fees forgiven resulting from accounts entering into a credit card loan modification program and pre-charge off settlements. Interest and fees forgiven are reversed against the respective line items in the consolidated statements of income. (2) During 2023, private student loan payment delays were offered up to six Loan receivables that have been modified are subject to the same requirements for the accrual of expected credit loss over their expected remaining lives as for unmodified loans. The allowance for credit losses incorporates modeling of historical loss data and thereby captures the higher risk associated with modified loans to borrowers experiencing financial difficulty based on their account attributes. The following table presents the payment status and period-end amortized cost basis, by class of loan receivable, of loans that were modified on or after January 1, 2023 to borrowers experiencing financial difficulty (dollars in millions) : (1) Current 30-89 Days 90 or At December 31, 2023 Credit card loans $ 1,882 $ 252 $ 196 Private student loans 147 18 8 Personal loans 109 20 4 Total $ 2,138 $ 290 $ 208 (1) This table includes any loan that entered a modification program during the period without regard to whether it remained in a modification program as of the reporting date. The following table presents the defaulted amount and period-end amortized cost basis, by modification category, of loans that defaulted during the period and were modified on or after January 1, 2023 through the end of the reporting period to borrowers experiencing financial difficulty (dollars in millions): For the Twelve Months Ended December 31, 2023 Defaulted Amount (1) Period-end Amortized Cost Basis Credit card loans Interest rate reduction $ 383 $ 210 Total credit card loans $ 383 $ 210 Private student loans Payment delay $ 5 $ 4 Interest rate reduction and payment delay 20 17 Total private student loans $ 25 $ 21 Personal loans Payment delay $ 2 $ 1 Term extension 4 2 Interest rate reduction and payment delay 10 2 Interest rate reduction and term extension 7 3 Total personal loans $ 23 $ 8 (1) For purposes of this disclosure, a loan is considered to be defaulted when it is 60 days or more delinquent at month end and has advanced two stages of delinquency subsequent to modification. Loans that entered a modification program in any stage of delinquency but did not experience a further payment default are included in the payment status table above but are not counted as defaulted for purposes of this disclosure. Troubled Debt Restructurings (Prior to 2023) Prior to t he adoption of ASU 2022-02, the Company considered a modified loan in which a concession had been granted to the borrower to be a TDR based generally on the cumulative length of the concession period and credit quality of the borrower. Due to differences between the legacy TDR requirements and current loan modification disclosure requirements, information presented in the disclosures below is not directly comparable to the disclosures under the current guidance. To evaluate the primary financial effects that resulted from credit card loans entering into a TDR program during the year ended December 31, 2022, the Company quantified the amount by which interest and fees were reduced during the periods. During the year ended December 31, 2022, the Company forgave approximately $29 million of interest and fees resulting from accounts entering into a credit card loan TDR program. The following table provides information on loans that entered a TDR program during the period (dollars in millions): For the Year Ended December 31, 2022 Number of Accounts Balances Accounts that entered a TDR program during the period Credit card loans (1) 237,339 $ 1,545 Private student loans 6,841 $ 127 Personal loans 6,303 $ 86 (1) Accounts that entered a credit card TDR program include $322 million that were converted from revolving line-of-credit arrangements to term loans during the year ended December 31, 2022. The following table presents the carrying value of loans that experienced a default during the period that had been modified in a TDR during the 15 months preceding the end of each period (dollars in millions): For the Year Ended December 31, 2022 Number of Accounts Aggregated Outstanding Balances Upon Default TDRs that subsequently defaulted Credit card loans (1)(2) 28,231 $ 141 Private student loans (3) 1,145 $ 22 Personal loans (2) 1,140 $ 20 (1) For credit card loans that default from a temporary loan modification program, accounts revert back to the pre-modification terms and charging privileges remain suspended in most cases. (2) For credit card loans and personal loans, a customer defaults from a loan modification program after either two consecutive missed payments or at charge-off, depending on the program. The outstanding balance upon default is generally the loan balance at the end of the month prior to default. (3) For student loans, a customer defaults from a loan modification after they are 60 or more days delinquent. The outstanding balance upon default is generally the loan balance at the end of the month prior to default. Of the account balances that defaulted as shown above for the year ended December 31, 2022, approximately 65%, of the total balances were charged off at the end of the month in which they defaulted from a TDR program. For the year ended December 31, 2022, for accounts that had defaulted from a TDR program and had not been subsequently charged off, the balances were included in the allowance for credit loss analysis. Geographical Distribution of Loans The Company originated credit card loans throughout the U.S. The geographic distribution of the Company’s credit card loan receivables was as follows (dollars in millions): December 31, 2023 2022 $ % $ % Texas $ 9,150 8.9 % $ 7,996 8.9 % California 9,078 8.9 7,888 8.7 Florida 7,496 7.3 6,465 7.2 New York 6,538 6.4 5,895 6.5 Illinois 5,012 4.9 4,528 5.0 Pennsylvania 4,985 4.9 4,484 5.0 Ohio 4,188 4.1 3,759 4.2 New Jersey 3,499 3.4 3,127 3.5 Georgia 3,294 3.2 2,849 3.2 Michigan 2,821 2.8 2,521 2.8 Other 46,198 45.2 40,601 45.0 Total credit card loans $ 102,259 100.0 % $ 90,113 100.0 % The Company originated private student, personal and other loans throughout the U.S. The geographic distribution of private student, personal and other loan receivables was as follows (dollars in millions): December 31, 2023 2022 $ % $ % California $ 2,449 9.4 % $ 2,015 9.2 % New York 2,074 7.9 1,900 8.6 Texas 1,987 7.6 1,595 7.2 Florida 1,607 6.1 1,248 5.7 Pennsylvania 1,567 6.0 1,431 6.5 Illinois 1,405 5.4 1,247 5.7 New Jersey 1,285 4.9 1,114 5.1 Ohio 975 3.7 849 3.9 Georgia 851 3.3 647 3.0 Virginia 778 3.0 654 2.8 Other 11,172 42.7 9,307 42.3 Total other loans $ 26,150 100.0 % $ 22,007 100.0 %

Credit Card and Private Student

Credit Card and Private Student Loan Securitization Activities	12 Months Ended
	Dec. 31, 2023
Variable Interest Entities Disclosure [Abstract]
Credit Card and Private Student Loan Securitization Activities	Credit Card and Private Student Loan Securitization Activities The Company’s securitizations are accounted for as secured borrowings and the related trusts are treated as consolidated subsidiaries of the Company. For a description of the Company’s principles of consolidation with respect to VIEs, see Note 1: Background and Basis of Presentation. Credit Card Securitization Activities The Company accesses the term asset securitization market through DCMT and DCENT. Credit card loan receivables are transferred into DCMT and beneficial interests in DCMT are transferred into DCENT. DCENT issues debt securities to investors that are reported primarily in long-term borrowings. The DCENT debt structure consists of four classes of securities (DiscoverSeries Class A, B, C and D notes), with the most senior class generally receiving a triple-A rating. To issue senior, higher-rated classes of notes, it is necessary to obtain the appropriate amount of credit enhancement, generally through the issuance of junior, lower-rated or more highly subordinated classes of notes. Wholly-owned subsidiaries of Discover Bank hold the subordinated classes of notes. The Company is exposed to credit risk associated with trust receivables as of the balance sheet date through the retention of these subordinated interests. The estimate of expected credit losses on trust receivables is included in the allowance for credit losses estimate. The Company’s retained interests in the trust’s assets, consisting of investments in DCENT notes held by subsidiaries of Discover Bank, constitute intercompany positions that are eliminated in the preparation of the Company’s consolidated statements of financial condition. Upon transfer of credit card loan receivables to the trust, the receivables and certain cash flows derived from them become restricted for use in meeting obligations to the trust’s creditors. Further, the transferred credit card loan receivables are owned by the trust and are not available to the Company’s third-party creditors. The trusts have ownership of cash balances, the amounts of which are reported in restricted cash within the Company’s consolidated statements of financial condition. Except for the seller’s interest in trust receivables, the Company’s interests in trust assets are generally subordinate to the interests of third-party investors in trust debt and, as such, may not be realized by the Company if needed to absorb deficiencies in cash flows that are allocated to those investors. Apart from the restricted assets related to securitization activities, the investors and the securitization trusts have no recourse to the Company’s other assets or the Company’s general credit for a shortage in cash flows. The carrying values of these restricted assets, which are presented on the Company’s consolidated statements of financial condition as relating to securitization activities, are shown in the following table (dollars in millions): December 31, 2023 2022 Restricted cash $ 36 $ 33 Investors’ interests held by third-party investors 11,725 10,200 Investors’ interests held by wholly-owned subsidiaries of Discover Bank 3,117 3,341 Seller’s interest 15,598 12,220 Loan receivables (1) 30,440 25,761 Allowance for credit losses allocated to securitized loan receivables (1) (1,347) (1,152) Net loan receivables 29,093 24,609 Other assets 2 2 Carrying value of assets of consolidated variable interest entities $ 29,131 $ 24,644 (1) The Company maintains its allowance for credit losses at an amount equal to lifetime expected credit losses associated with all loan receivables, which includes all loan receivables in the trusts. Therefore, the credit risk associated with the transferred receivables is fully reflected on the Company’s statements of financial condition in accordance with GAAP. The debt securities issued by the consolidated trusts are subject to credit, payment and interest rate risks on the transferred credit card loan receivables. To protect investors in the securities, there are certain features or triggering events that will cause an early amortization of the debt securities, including triggers related to the impact of the performance of the trust receivables on the availability and adequacy of cash flows to meet contractual requirements. As of December 31, 2023, no economic or other early amortization events have occurred. The Company continues to own and service the accounts that generate the loan receivables held by the trusts. Discover Bank receives servicing fees from the trusts based on a percentage of the monthly investor principal balance outstanding. Although the fee income to Discover Bank offsets the fee expense to the trusts and thus is eliminated in consolidation, failure to service the transferred loan receivables in accordance with contractual requirements could lead to a termination of the servicing rights and the loss of future servicing income, net of related expenses. Private Student Loan Securitization Activities The Company’s private student loan trust receivables reported in loan receivables and the related debt issued by the trust reported in long-term borrowings were immaterial as of December 31, 2023 and 2022. The amounts are included, together with amounts related to the Company’s credit card securitizations, in the supplemental information about assets and liabilities of consolidated variable interest entities, which is presented with the Company’s consolidated statements of financial condition.

Premises and Equipment

Premises and Equipment	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Premises and Equipment	Premises and Equipment A summary of premises and equipment, net is as follows (dollars in millions): December 31, 2023 2022 Land $ 37 $ 37 Buildings and improvements 605 587 Furniture, fixtures and equipment 1,155 1,111 Software 1,305 1,125 Premises and equipment 3,102 2,860 Less: accumulated depreciation (1,409) (1,339) Less: accumulated amortization of software (602) (518) Premises and equipment, net $ 1,091 $ 1,003 Depreciation expense was $74 million, $80 million and $86 million for the years ended December 31, 2023, 2022 and 2021, respectively. Amortization expense on capitalized software was $113 million, $114 million and $103 million for the years ended December 31, 2023, 2022 and 2021, respectively.

Goodwill and Intangible Assets

Goodwill and Intangible Assets	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Intangible Assets	Goodwill As of December 31, 2023 and 2022, the Company had goodwill of $255 million related to PULSE, which is part of the Payment Services segment. The Company conducted its annual goodwill impairment test as of October 1, 2023 and 2022 and no impairments were identified.

Deposits

Deposits	12 Months Ended
	Dec. 31, 2023
Deposits [Abstract]
Deposits	Deposits The Company obtains deposits from consumers directly or through affinity relationships (“direct-to-consumer deposits”). Additionally, the Company obtains deposits through third-party securities brokerage firms that offer the Company’s deposits to their customers (“brokered deposits”). Direct-to-consumer deposit products include savings accounts, certificates of deposit, money market accounts, IRA savings accounts, IRA certificates of deposit and checking accounts. Brokered deposit products include certificates of deposit and sweep accounts. Customer deposits held with Discover Bank are currently insured for up to $250,000 per account holder through the Federal Deposit Insurance Corporation (“FDIC”). Uninsured deposits are the portion of deposit accounts in U.S. offices that exceed the FDIC insurance limit or similar state deposit insurance regime, and amounts in any other uninsured investment or deposit accounts that are classified as deposits and not subject to any federal or state deposit insurance regime. At December 31, 2023 and 2022, Discover Bank had approximately $7.0 billion and $8.9 billion of uninsured deposits, respectively, a portion of which comprise intercompany deposits. The decrease in uninsured deposits reported was primarily driven by leveraging technological capabilities, beginning in the first quarter of 2023, enabling improved application of deposit account ownership attributes in deriving this amount. The amounts of uninsured deposits above were estimated based on the same methodologies and assumptions used for Discover Bank’s regulatory reporting at each respective balance sheet date. The following table summarizes certificates of deposit in uninsured accounts and accounts that are in excess of the FDIC insurance limit by time remaining until maturity (dollars in millions): At December 31, 2023 Three months or less $ 146 Over three months through six months 73 Over six months through twelve months 368 Over twelve months 293 Total $ 880 The following table summarizes certificates of deposit maturing over each of the next five years and thereafter (dollars in millions): At December 31, 2023 2024 $ 25,561 2025 8,153 2026 4,129 2027 4,347 2028 2,144 Thereafter 906 Total $ 45,240

Long-Term Borrowings

Long-Term Borrowings	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Long-Term Borrowings	Long-Term Borrowings Long-term borrowings consist of borrowings having original maturities of one year or more. The following table provides a summary of the Company’s long-term borrowings and weighted-average interest rates on outstanding balances (dollars in millions): December 31, 2023 2022 Maturity Interest Weighted-Average Interest Rate Outstanding Amount Outstanding Amount Securitized Debt Fixed-rate asset-backed securities (1) 2024-2026 0.58% - 5.03% 3.17% $ 10,003 $ 8,401 Floating-rate asset-backed securities (2) 2024 6.08% 6.08% 925 1,774 Total Discover Card Master Trust I and Discover Card Execution Note Trust 10,928 10,175 Floating-rate asset-backed security (3)(4) 2031 9.50% 9.50% 65 84 Total private student loan securitization trust 65 84 Total long-term borrowings - owed to securitization investors 10,993 10,259 Discover Financial Services (Parent Company) Fixed-rate senior notes 2024-2032 3.75% - 6.70% 4.68% 3,336 3,333 Fixed-rate retail notes 2025-2031 3.25% - 4.40% 3.82% 140 154 Fixed to floating-rate senior notes (5) 2034 7.96% 7.96% 993 — Discover Bank Fixed-rate senior bank notes (1) 2024-2030 2.45% - 4.65% 3.53% 3,571 5,348 Fixed-rate subordinated bank notes 2028 5.97% 5.97% 500 489 Fixed-rate Federal Home Loan Bank advances 2030 4.77% - 4.82% 4.82% 523 — Floating-rate Federal Home Loan Bank advances (6) 2024 5.55% - 5.65% 5.65% 525 525 Total long-term borrowings $ 20,581 $ 20,108 (1) The Company uses interest rate swaps to hedge portions of these long-term borrowings against changes in fair value attributable to changes in the applicable benchmark interest rates. The use of these interest rate swaps impacts the carrying value of the debt. See Note 21: Derivatives and Hedging Activities. (2) DCENT floating-rate asset-backed securities include issuances with the following interest rate terms: 1-month Term SOFR + 0.11448% Tenor Spread Adjustment + 60 basis points as of December 31, 2023. (3) The private student loan securitization trust floating-rate asset-backed security includes an issuance with the following interest rate term: Prime rate + 100 basis points as of December 31, 2023. (4) Repayment of this debt is dependent upon the timing of principal and interest payments on the underlying private student loans. The date shown represents the final maturity date. (5) The fixed to floating-rate senior notes include a rate reset on November 2, 2033, to a floating rate based on compounded SOFR + 3.370%. (6) The floating-rate FHLB advances include interest rate terms based on SOFR plus a spread ranging from 16 to 26 basis points as of December 31, 2023. The following table summarizes long-term borrowings maturing over each of the next five years and thereafter (dollars in millions): At December 31, 2023 2024 $ 4,251 2025 6,146 2026 4,912 2027 1,001 2028 1,439 Thereafter 2,832 Total $ 20,581 As a member of the FHLB of Chicago, the Company has access to both short- and long-term advance structures with maturities ranging from overnight to 30 years. As of December 31, 2023, the Company had total committed borrowing capacity of $3.6 billion based on the amount and type of assets pledged, of which the outstanding balance was comprised of $1.0 billion in long-term advances. As of December 31, 2022, the Company had total committed borrowing capacity of $2.2 billion, of which the outstanding balance was comprised solely of a $525 million long-term advance. These advances are presented as short- or long-term borrowings on the consolidated statements of financial condition based on the contractual maturity at origination. Additionally, the Company has access to committed borrowing capacity through private securitizations to support the funding of its credit card loan receivables. As of December 31, 2023, the total commitment of secured credit facilities through private providers was $3.5 billion, $750 million of which was outstanding as a short-term advance. This advance is presented as short-term borrowings on the consolidated statements of financial condition. As of December 31, 2022, the total commitment of secured credit facilities through private providers was $3.5 billion, none of which was drawn. Access to the unused portions of the secured credit facilities is subject to the terms of the agreements with each of the providers. The secured credit facilities have various expirations in 2025. Borrowings outstanding under each facility bear interest at a margin above the Term Secured Overnight Financing Rate (“SOFR”) or the asset-backed commercial paper costs of each provider. The terms of each agreement provide for a commitment fee to be paid on the unused capacity and include various affirmative and negative covenants, including performance metrics and legal requirements similar to those required to issue any term securitization transaction.

Stock-Based Compensation Plans

Stock-Based Compensation Plans	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation Plans	Stock-Based Compensation Plans The Company has two stock-based compensation plans: the Discover Financial Services Omnibus Incentive Plan (“Omnibus Plan”) and the Discover Financial Services Directors’ Compensation Plan (“Directors’ Compensation Plan”). Omnibus Plan The Omnibus Plan, which is stockholder-approved, provides for the award of stock options, stock appreciation rights, restricted stock, restricted stock units (“RSUs”), performance stock units (“PSUs”) and other stock-based and/or cash awards (collectively, “awards”). Currently, the Company does not have any stock options, stock appreciation rights or restricted stock outstanding. Effective May 11, 2023, the Discover Financial Services Amended and Restated 2014 Omnibus Incentive Plan (the “2014 Omnibus Plan”) was replaced with the Discover Financial Services 2023 Omnibus Incentive Plan (the “2023 Omnibus Plan”). Subject to adjustments for certain transactions in the 2023 Omnibus Plan, the total number of shares that may be granted is 18 million shares reduced by the number of shares granted under the 2014 Omnibus Plan. Shares granted under the Omnibus Plan may be the following: (i) authorized but unissued shares and (ii) treasury shares that the Company acquires in the open market, in private transactions or otherwise. Directors’ Compensation Plan The Directors’ Compensation Plan, which is stockholder-approved, permits the grant of RSUs to non-employee directors. Under the Directors’ Compensation Plan, the Company may issue awards of up to a total of 1 million shares of common stock to non-employee directors. Shares of stock that are issuable pursuant to the awards granted under the Directors’ Compensation Plan may be one of the following: authorized but unissued shares, treasury shares or shares that the Company acquires in the open market. Annual awards for eligible directors are calculated by dividing $170,000 by the fair market value of a share of stock on the date of grant and are subject to a restriction period whereby 100% of such units shall vest in full on the earlier of the one year anniversary of the date of grant or immediately prior to the first annual meeting of shareholders following the date of grant. RSUs include the right to receive dividend equivalents in the same amount and at the same time as dividends paid to all Company common shareholders. Stock-Based Compensation The following table details the compensation cost, net of forfeitures (dollars in millions): For the Years Ended December 31, 2023 2022 2021 RSUs $ 69 $ 58 $ 46 PSUs (1) 5 31 57 Total stock-based compensation expense $ 74 $ 89 $ 103 Income tax benefit $ 18 $ 16 $ 15 (1) Total PSU expense for the year ended December 31, 2021, includes an incremental $1 million, representing a modification to the 2019 PSU award. The nature of the modification was to adjust the payout to compensate for the 2020 current expected credit loss (“CECL”) adoption impact on earnings per share (“EPS”). RSUs The following table sets forth the activity related to vested and unvested RSUs: Number of Units Weighted-Average Remaining Contractual Term (in years) Aggregate RSUs at December 31, 2022 1,938,283 $ 190 Granted 728,993 Conversions to common stock (626,780) Forfeited (96,379) RSUs at December 31, 2023 1,944,117 0.85 $ 219 Vested and convertible RSUs at December 31, 2023 664,962 0.00 $ 75 The following table sets forth the activity related to unvested RSUs: Number of Units Weighted-Average Grant-Date Fair Value Unvested RSUs at December 31, 2022 1) 1,059,683 $ 107.47 Granted 728,993 $ 104.20 Vested (534,603) $ 103.95 Forfeited (96,379) $ 109.43 Unvested RSUs at December 31, 2023 (1) 1,157,694 $ 106.87 (1) Unvested RSUs represent awards where recipients have yet to satisfy either explicit vesting terms or retirement-eligibility requirements. Compensation cost associated with RSUs is determined based on the number of units granted and the fair value on the date of grant. The fair value is amortized on a straight-line basis, net of estimated forfeitures, over the requisite service period for each separately vesting tranche of the award. The requisite service period is generally the vesting period. The following table summarizes the total intrinsic value of the RSUs converted to common stock and the total grant-date fair value of RSUs vested (dollars in millions, except weighted-average grant-date fair value amounts): For the Years Ended December 31, 2023 2022 2021 Intrinsic value of RSUs converted to common stock $ 68 $ 59 $ 62 Grant-date fair value of RSUs vested $ 56 $ 41 $ 47 Weighted-average grant-date fair value of RSUs granted $ 104.20 $ 116.50 $ 101.47 As of December 31, 2023, there was $46 million of total unrecognized compensation cost related to non-vested RSUs. The cost is expected to be recognized over a weighted-average period of 0.86 years. RSUs provide for accelerated vesting if there is a change in control or upon certain terminations (as defined in the Omnibus Plan or the award certificate). RSUs include the right to receive dividend equivalents in the same amount and at the same time as dividends paid to all Company common shareholders. PSUs The following table sets forth the activity related to vested and unvested PSUs: Number of Units Weighted-Average Grant-Date Fair Value Weighted-Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (in millions) PSUs at December 31, 2022 (1) 716,472 $ 99.21 $ 70 Granted 384,085 $ 110.70 Conversions to common stock (406,543) $ 85.34 Forfeited (113,337) $ 109.55 PSUs at December 31, 2023 (1)(2)(3)(4) 580,677 $ 108.56 0.98 $ 65 (1) All PSUs outstanding at December 31, 2023 and December 31, 2022, are unvested PSUs. (2) Includes 227,082 PSUs granted in 2021 that are earned based on the Company’s cumulative EPS as measured over the three-year performance period, which ended December 31, 2023, and are subject to the requisite service period, which ended February 1, 2024. (3) Includes 187,128 PSUs granted in 2022 that are earned based on the Company’s cumulative EPS as measured over the three-year performance period, which ends December 31, 2024, and are subject to the requisite service period, which ends February 1, 2025. (4) Includes 166,467 PSUs granted in 2023 that may be earned based on the Company’s cumulative EPS as measured over the three-year performance period, which ends December 31, 2025, and are subject to the requisite service period, which ends February 1, 2026. Compensation cost associated with PSUs is determined based on the number of instruments granted, the fair value on the date of grant and the performance factor. The fair value is amortized on a straight-line basis, net of estimated forfeitures, over the requisite service period. Each PSU outstanding at December 31, 2023, is a restricted stock instrument that is subject to additional conditions and constitutes a contingent and unsecured promise by the Company to pay up to 1.5 shares per unit of the Company’s common stock on the conversion date for the PSU, contingent on the number of PSUs to be issued. PSUs have a performance period of three years and a vesting period of three years. The requisite service period of an award having both performance and service conditions is the longest of the explicit, implicit and derived service periods. The following table summarizes the total intrinsic value of the PSUs converted to common stock and the total grant-date fair value of PSUs vested (dollars in millions, except weighted-average grant-date fair value amounts): For the Years Ended December 31, 2023 2022 2021 Intrinsic value of PSUs converted to common stock $ 47 $ 29 $ 15 Grant-date fair value of PSUs vested $ 35 $ 17 $ 18 Weighted-average grant-date fair value of PSUs granted $ 110.70 $ 124.01 $ 94.21 As of December 31, 2023, there was $7 million of total unrecognized compensation cost related to non-vested PSUs. The cost is expected to be recognized over a weighted-average period of 1.06 years. PSUs provide for accelerated vesting if there is a change in control or upon certain terminations (as defined in the Omnibus Plan or the award certificate). PSUs include the right to receive dividend equivalents, which will accumulate and pay out in cash if and when the underlying shares are issued.

Employee Benefit Plans

Employee Benefit Plans	12 Months Ended
	Dec. 31, 2023
Retirement Benefits [Abstract]
Employee Benefit Plans	Employee Benefit Plans The Company sponsors the Discover Financial Services Pension Plan (the “Discover Pension Plan”), which is a non-contributory defined benefit plan that is qualified under Section 401(a) of the Internal Revenue Code, for eligible employees in the U.S. Effective December 31, 2008, the Discover Pension Plan was amended to discontinue the accrual of future benefits. The Company also sponsors the Discover Financial Services 401(k) Plan (the “Discover 401(k) Plan”), which is a defined contribution plan that is qualified under Section 401(a) of the Internal Revenue Code, for its eligible U.S. employees. Discover Pension Plan The Discover Pension Plan generally provides retirement benefits that are based on each participant’s years of credited service prior to 2009 and on compensation specified in the Discover Pension Plan. The Company’s policy is to fund at least the amounts sufficient to meet minimum funding requirements under the Employee Retirement Income Security Act of 1974, as amended. Net periodic benefit cost (income) is recorded in employee compensation and benefits within the consolidated statements of income. For this plan, the net periodic benefit cost was immaterial for all periods presented. The Company measures the funded status of the defined benefit pension plan as the difference between the fair value of plan assets and the projected benefit obligation and recognizes that amount as either an asset or liability in the consolidated statements of financial condition as appropriate. For the year ended December 31, 2023, the Company contributed approximately $115 million to the defined benefit pension plan. The over-funded status related to the defined benefit pension plan recorded in other assets was $14 million as of December 31, 2023. The unfunded status related to the defined benefit pension plan recorded in accrued expenses and other liabilities was $101 million as of December 31, 2022. Expected benefit payments from the Discover Pension Plan for each of the next five years range from $27 million and $30 million annually. Discover 401(k) Plan Under the Discover 401(k) Plan, eligible U.S. employees receive 401(k) matching contributions. Eligible employees also receive fixed employer contributions. The pretax expense associated with the Company contributions for the years ended December 31, 2023, 2022 and 2021 was $128 million, $104 million and $97 million, respectively.

Common and Preferred Stock

Common and Preferred Stock	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Common and Preferred Stock	Common and Preferred Stock Common Stock Repurchase Program In April 2022, the Board of Directors approved a share repurchase program authorizing up to $4.2 billion of share repurchases. The program expired on April 18, 2023. In April 2023, the Company’s Board of Directors approved a new share repurchase program authorizing the repurchase of up to $2.7 billion of its outstanding shares of common stock. This program expires on June 30, 2024. As reported in the second quarter of 2023, the Company decided to pause share repurchases while an internal review of compliance, risk management and corporate governance is ongoing. See Note 19: Litigation and Regulatory Matters for additional information on the card product misclassification. During the three months ended December 31, 2023, the Company did not repurchase any shares. During the year ended December 31, 2023, the Company repurchased approximately 18.1 million shares for approximately $1.9 billion. Preferred Stock The table below presents a summary of the Company's non-cumulative perpetual preferred stock that is outstanding at December 31, 2023 (dollars in millions, except per depositary share amounts): Series Description Initial Issuance Date Liquidation Preference and Redemption Price per Depositary Share (1) Per Annum Dividend Rate in effect at December 31, 2023 Total Depositary Shares Authorized, Issued and Outstanding Carrying Value December 31, 2023 December 31, 2022 December 31, 2023 December 31, 2022 C (2)(3)(4) Fixed-to-Floating Rate 10/31/2017 $ 1,000 5.500 % 570,000 570,000 $ 563 $ 563 D (2)(5)(6) Fixed-Rate Reset 6/22/2020 $ 1,000 6.125 % 500,000 500,000 493 493 Total Preferred Stock 1,070,000 1,070,000 $ 1,056 $ 1,056 (1) Redeemable at the redemption price plus declared and unpaid dividends. (2) Issued as depositary shares, each representing 1/100 th interest in a share of the corresponding series of preferred stock. Each preferred share has a par value of $0.01. (3) Redeemable at the Company’s option, subject to regulatory approval, either (i) in whole or in part on any dividend payment date on or after October 30, 2027, or (ii) in whole but not in part, at any time within 90 days following a regulatory capital treatment event (as defined in the certificate of designations for the Series C preferred stock). (4) Any dividends declared are payable semi-annually in arrears at a rate of 5.50% per annum until October 30, 2027. Thereafter, dividends declared will be payable quarterly in arrears at a floating rate equal to 3-month Term SOFR plus a spread of 3.338% per annum. (5) Redeemable at the Company’s option, subject to regulatory approval, either (i) in whole or in part during the three-month period prior to, and including, each reset date (as defined in the certificate of designations for the Series D preferred stock) or (ii) in whole but not in part, at any time within 90 days following a regulatory capital treatment event (as defined in the certificate of designations for the Series D Preferred Stock). (6) Any dividends declared are payable semi-annually in arrears at a rate of 6.125% per annum until September 23, 2025, after which the dividend rate will reset every 5 years to a fixed annual rate equal to the 5-year Treasury plus a spread of 5.783%.

Accumulated Other Comprehensive

Accumulated Other Comprehensive Income	12 Months Ended
	Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Accumulated Other Comprehensive Income	Accumulated Other Comprehensive Income Changes in each component of AOCI were as follows (dollars in millions): Unrealized (Losses) Gains on Available-for-Sale Investment Securities, Net of Tax Losses on Cash Flow Hedges, Net of Tax Losses on Pension Plan, Net of Tax AOCI For the Year Ended December 31, 2023 Balance at December 31, 2022 $ (136) $ (14) $ (189) $ (339) Net change 99 6 9 114 Balance at December 31, 2023 $ (37) $ (8) $ (180) $ (225) For the Year Ended December 31, 2022 Balance at December 31, 2021 $ 114 $ (9) $ (199) $ (94) Net change (250) (5) 10 (245) Balance at December 31, 2022 $ (136) $ (14) $ (189) $ (339) For the Year Ended December 31, 2021 Balance at December 31, 2020 $ 284 $ (12) $ (227) $ 45 Net change (170) 3 28 (139) Balance at December 31, 2021 $ 114 $ (9) $ (199) $ (94) The following table presents each component of OCI before reclassifications and amounts reclassified from AOCI for each component of OCI before- and after-tax (dollars in millions): Before Tax Tax (Expense) Benefit Net of Tax For the Year Ended December 31, 2023 Available-for-Sale Investment Securities Net unrealized holding gains arising during the period $ 131 $ (32) $ 99 Net change $ 131 $ (32) $ 99 Cash Flow Hedges Net unrealized losses arising during the period $ (74) $ 18 $ (56) Amounts reclassified from AOCI 82 (20) 62 Net change $ 8 $ (2) $ 6 Pension Plan Unrealized gains arising during the period $ 12 $ (3) $ 9 Net change $ 12 $ (3) $ 9 For the Year Ended December 31, 2022 Available-for-Sale Investment Securities Net unrealized holding losses arising during the period $ (331) $ 81 $ (250) Net change $ (331) $ 81 $ (250) Cash Flow Hedges Net unrealized losses arising during the period $ (13) $ 3 $ (10) Amounts reclassified from AOCI 4 1 5 Net change $ (9) $ 4 $ (5) Pension Plan Unrealized gains arising during the period $ 13 $ (3) $ 10 Net change $ 13 $ (3) $ 10 For the Year Ended December 31, 2021 Available-for-Sale Investment Securities Net unrealized holding losses arising during the period $ (226) $ 56 $ (170) Net change $ (226) $ 56 $ (170) Cash Flow Hedges Net unrealized losses arising during the period $ (1) $ 1 $ — Amounts reclassified from AOCI 3 — 3 Net change $ 2 $ 1 $ 3 Pension Plan Unrealized gains arising during the period $ 37 $ (9) $ 28 Net change $ 37 $ (9) $ 28

Other Expense

Other Expense	12 Months Ended
	Dec. 31, 2023
Other Income and Expenses [Abstract]
Other Expense	Other Expense Total other expense includes the following components (dollars in millions): For the Years Ended December 31, 2023 2022 2021 Fraud losses and other charges $ 131 $ 149 $ 92 Postage 115 97 91 Credit-related inquiry fees 40 31 24 Supplies 38 35 46 Impairment charges — — 95 Other expense 356 228 272 Total other expense $ 680 $ 540 $ 620

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes Income tax expense consisted of the following (dollars in millions): For the Years Ended December 31, 2023 2022 2021 Current U.S. federal $ 1,254 $ 1,465 $ 1,084 U.S. state and local 258 312 204 Total 1,512 1,777 1,288 Deferred U.S. federal (556) (381) 280 U.S. state and local (70) (52) 38 Total (626) (433) 318 Income tax expense $ 886 $ 1,344 $ 1,606 The following table reconciles the Company’s effective tax rate to the U.S. federal statutory income tax rate: For the Years Ended December 31, 2023 2022 2021 U.S. federal statutory income tax rate 21.0 % 21.0 % 21.0 % U.S. state, local and other income taxes, net of U.S. federal income tax benefits 3.5 3.4 3.2 Tax credits (2.0) (1.3) (1.2) Other 0.6 0.4 (0.1) Effective income tax rate 23.1 % 23.5 % 22.9 % Deferred income taxes reflect the net tax effects of temporary differences between the financial reporting and tax bases of assets and liabilities and are measured using the enacted tax rates and laws that will be in effect when such differences are expected to reverse. Valuation allowances are provided to reduce deferred tax assets to an amount that is more likely than not to be realized. The Company evaluates the likelihood of realizing its deferred tax assets by estimating sources of future taxable income and the impact of tax planning strategies. Significant components of the Company’s net deferred income taxes, which are included in other assets in the Company’s consolidated statements of financial condition, were as follows (dollars in millions): December 31, 2023 2022 Deferred tax assets Allowance for credit losses $ 2,245 $ 1,791 Customer fees and rewards 236 166 Depreciation and software amortization 60 — Other 203 270 Total deferred tax assets before valuation allowance 2,744 2,227 Valuation allowance (1) (1) Total deferred tax assets, net of valuation allowance 2,743 2,226 Deferred tax liabilities Depreciation and software amortization — (71) Deferred loan origination costs (40) (48) Other (47) (26) Total deferred tax liabilities (87) (145) Net deferred tax assets $ 2,656 $ 2,081 A reconciliation of beginning and ending unrecognized tax benefits is as follows (dollars in millions): For the Years Ended December 31, 2023 2022 2021 Balance at beginning of period $ 19 $ 39 $ 56 Additions Current year tax positions 4 4 13 Prior year tax positions — 1 8 Reductions Prior year tax positions (1) (20) (14) Settlements with taxing authorities (1) — (14) Expired statute of limitations (3) (5) (10) Balance at end of period (1) $ 18 $ 19 $ 39 (1) For the years ended December 31, 2023, 2022 and 2021, amounts included $18 million, $18 million and $37 million, respectively, of unrecognized tax benefits, which, if recognized, would favorably affect the effective tax rate. The Company recognizes accrued interest and penalties related to unrecognized tax benefits as a component of income tax expense. Interest and penalties related to unrecognized tax benefits were $2 million for the years ended December 31, 2023 and 2022. The Company is subject to examination by the Internal Revenue Service and tax authorities in various state, local and foreign tax jurisdictions. The Company's federal income tax filings are open to examinations for the tax years ended December 31, 2020 and forward. The Company regularly assesses the likelihood of additional assessments or settlements in each of the taxing jurisdictions. At this time, the potential change in unrecognized tax benefits is expected to be immaterial over the next 12 months. The Company believes that its reserves are sufficient to cover any tax, penalties and interest that would result from such examinations. The Company has an immaterial amount of state net operating loss carryforwards that are subject to a partial valuation allowance as of December 31, 2023 and 2022.

Earnings Per Share

Earnings Per Share	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table presents the calculation of basic and diluted EPS (dollars and shares in millions, except per share amounts): For the Years Ended December 31, 2023 2022 2021 Numerator Net income $ 2,940 $ 4,374 $ 5,422 Preferred stock dividends (62) (62) (69) Net income available to common stockholders 2,878 4,312 5,353 Income allocated to participating securities (19) (26) (30) Net income allocated to common stockholders $ 2,859 $ 4,286 $ 5,323 Denominator Weighted-average shares of common stock outstanding 254 277 300 Effect of dilutive common stock equivalents — 1 — Weighted-average shares of common stock outstanding and common stock equivalents 254 278 300 Basic earnings per common share $ 11.27 $ 15.45 $ 17.75 Diluted earnings per common share $ 11.26 $ 15.44 $ 17.74 Anti-dilutive securities were not material and had no impact on the computation of diluted EPS for the years ended December 31, 2023, 2022 and 2021.

Capital Adequacy

Capital Adequacy	12 Months Ended
	Dec. 31, 2023
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]
Capital Adequacy	Capital Adequacy DFS is subject to the capital adequacy guidelines of the Federal Reserve. Discover Bank, the Company’s banking subsidiary, is subject to various regulatory capital requirements as administered by the FDIC. Failure to meet minimum capital requirements can result in the initiation of certain mandatory and possibly additional discretionary actions by regulators that, if undertaken, could limit the Company’s business activities and have a direct material effect on the financial condition and operating results of DFS and Discover Bank. Under capital adequacy guidelines and the regulatory framework for prompt corrective action, DFS and Discover Bank must meet specific risk-based capital requirements and leverage ratios that involve quantitative measures of assets, liabilities and certain off-balance sheet items, as calculated under regulatory guidelines. Capital amounts and classification are also subject to qualitative judgments by the regulators about components, risk weightings and other factors. DFS and Discover Bank are subject to regulatory and capital rules issued by the Federal Reserve and FDIC, respectively, under the Basel Committee’s December 2010 framework (“Basel III rules”). Under the Basel III rules, DFS and Discover Bank are classified as “standardized approach” entities. Standardized approach entities are defined as U.S. banking organizations with consolidated total assets over $50 billion but not exceeding $250 billion and consolidated total on-balance sheet foreign exposure less than $10 billion. In accordance with the final rule on the impact of CECL on regulatory capital, the Company has elected to phase in the impact over three years beginning in 2022. Accordingly, the Company's Common Equity Tier 1 ("CET1") capital ratios are higher than they otherwise would have been. The Company's CET1 capital ratios will continue to be favorably impacted by this election over the phase-in period, which ends December 31, 2024. As of December 31, 2023 and 2022, DFS and Discover Bank met all Basel III minimum capital ratio requirements to which they were subject. DFS and Discover Bank also met the requirements to be considered “well-capitalized” under Regulation Y and prompt corrective action rules, respectively. There have been no conditions or events that management believes have changed DFS’ or Discover Bank’s category. To be categorized as “well-capitalized,” DFS and Discover Bank must maintain minimum capital ratios outlined in the table below. The following table shows the actual capital amounts and ratios of DFS and Discover Bank and comparisons of each to the regulatory minimum and “well-capitalized” requirements (dollars in millions): Actual Minimum Capital Capital Requirements Amount Ratio (1) Amount Ratio Amount (2) Ratio (2) December 31, 2023 Total capital (to risk-weighted assets) Discover Financial Services $ 17,986 13.7 % $ 10,471 ≥8.0% $ 13,088 ≥10.0% Discover Bank $ 16,856 13.0 % $ 10,352 ≥8.0% $ 12,939 ≥10.0% Tier 1 capital (to risk-weighted assets) Discover Financial Services $ 15,872 12.1 % $ 7,853 ≥6.0% $ 7,853 ≥6.0% Discover Bank $ 13,910 10.8 % $ 7,764 ≥6.0% $ 10,352 ≥8.0% Tier 1 capital (to average assets) Discover Financial Services $ 15,872 10.7 % $ 5,915 ≥4.0% N/A N/A Discover Bank $ 13,910 9.5 % $ 5,833 ≥4.0% $ 7,292 ≥5.0% Common Equity Tier 1 (to risk-weighted assets) Discover Financial Services $ 14,816 11.3 % $ 5,890 ≥4.5% N/A N/A Discover Bank $ 13,910 10.8 % $ 5,823 ≥4.5% $ 8,411 ≥6.5% December 31, 2022 Total capital (to risk-weighted assets) Discover Financial Services (3) $ 18,004 15.8 % $ 9,139 ≥8.0% $ 11,424 ≥10.0% Discover Bank (3) $ 16,344 14.5 % $ 9,024 ≥8.0% $ 11,280 ≥10.0% Tier 1 capital (to risk-weighted assets) Discover Financial Services (3) $ 16,039 14.0 % $ 6,854 ≥6.0% $ 6,854 ≥6.0% Discover Bank (3) $ 13,446 11.9 % $ 6,768 ≥6.0% $ 9,024 ≥8.0% Tier 1 capital (to average assets) Discover Financial Services (3) $ 16,039 12.5 % $ 5,147 ≥4.0% N/A N/A Discover Bank (3) $ 13,446 10.6 % $ 5,086 ≥4.0% $ 6,357 ≥5.0% Common Equity Tier 1 (to risk-weighted assets) Discover Financial Services (3) $ 14,983 13.1 % $ 5,141 ≥4.5% N/A N/A Discover Bank (3) $ 13,446 11.9 % $ 5,076 ≥4.5% $ 7,332 ≥6.5% (1) Capital ratios are calculated based on the Basel III standardized approach rules, subject to applicable transition provisions, including CECL transition provisions. (2) The Basel III rules do not establish well-capitalized thresholds for these measures for bank holding companies. Existing well-capitalized thresholds established in the Federal Reserve’s Regulation Y have been included where available. (3) Capital amounts and ratios have been updated to reflect the impact of the restatement described in Note 26: Immaterial Restatement of Prior Period Financial Statements. Discover Bank capital amounts and ratios presented as of December 31, 2022 have been updated from amounts previously disclosed in the Company’s Form 10-Q for the period ended September 30, 2023, due to certain intercompany allocations recorded in the fourth quarter. The amount of dividends that a bank may pay in any year is subject to certain regulatory restrictions. Under the current banking regulations, a bank may not pay dividends if such a payment would leave the bank inadequately capitalized. Discover Bank paid dividends of $1.7 billion, $4.0 billion and $3.3 billion in the years ended December 31, 2023, 2022 and 2021, respectively, to DFS.

Commitments, Contingencies and

Commitments, Contingencies and Guarantees	12 Months Ended
	Dec. 31, 2023
Commitments Contingencies and Guarantees [Abstract]
Commitments, Contingencies and Guarantees	Commitments, Contingencies and Guarantees In the normal course of business, the Company enters into a number of off-balance sheet commitments, transactions and obligations under guarantee arrangements that expose the Company to varying degrees of risk. The Company’s commitments, contingencies and guarantee relationships are described below. Commitments Unused Credit Arrangements At December 31, 2023, the Company had unused credit arrangements for loans of approximately $229.8 billion. Such arrangements arise primarily from agreements with customers for unused lines of credit on certain credit cards and certain other loan products, provided there is no violation of conditions in the related agreements. These arrangements, substantially all of which the Company can terminate at any time and which do not necessarily represent future cash requirements, are periodically reviewed based on account usage, customer creditworthiness, loan qualification and the cost of capital. As the Company’s credit card loans are unconditionally cancellable, no liability for expected credit losses is required for unused lines of credit. For all other loans, the Company records a liability for expected credit losses for unfunded commitments, which is presented as part of accrued expenses and other liabilities in the consolidated statements of financial condition. Contingencies See Note 19: Litigation and Regulatory Matters for a description of potential liability arising from pending litigation or regulatory proceedings involving the Company. Guarantees The Company has obligations under certain guarantee arrangements, including contracts, indemnification agreements and representations and warranties, which contingently require the Company to make payments to the guaranteed party based on changes in an underlying asset, liability or equity security of a guaranteed party, rate or index. Also included as guarantees are contracts that contingently require the Company to make payments to a guaranteed party based on another entity’s failure to perform under an agreement. The Company’s use of guarantees is disclosed below by type of guarantee. Securitizations Representations and Warranties As part of the Company’s financing activities, the Company provides representations and warranties that certain assets pledged as collateral in secured borrowing arrangements conform to specified guidelines. Due diligence is performed by the Company, which is intended to ensure that asset guideline qualifications are met. If the assets pledged as collateral do not meet certain conforming guidelines, the Company may be required to replace, repurchase or sell such assets. In its credit card securitization activities, the Company would replace nonconforming receivables through the allocation of excess seller’s interest or from additional transfers from the unrestricted pool of receivables. If the Company could not add enough receivables to satisfy the requirement, an early amortization (or repayment) of investors’ interests would be triggered. In its student loan securitizations, the Company would generally repurchase the loans from the trust at the outstanding principal amount plus interest. The maximum potential amount of future payments the Company could be required to make would be equal to the current outstanding balances of third-party investor interests in credit card asset-backed securities and the principal amount of any private student loan secured borrowings, plus any unpaid interest for the corresponding secured borrowings. The Company has recorded substantially all of the maximum potential amount of future payments in long-term borrowings on the Company’s consolidated statements of financial condition. The Company has not recorded any incremental contingent liability associated with its secured borrowing representations and warranties. Management believes that the probability of having to replace, repurchase or sell assets pledged as collateral under secured borrowing arrangements, including an early amortization event, is low. Counterparty Settlement Guarantees Diners Club and DFS Services LLC (on behalf of PULSE) have various counterparty exposures, which are listed below: • Merchant Guarantee . Diners Club has entered into contractual relationships with certain international merchants, which generally include travel-related businesses, for the benefit of all Diners Club licensees. The licensees hold the primary liability to settle the transactions of their customers with these merchants. However, Diners Club retains a counterparty exposure if a licensee fails to meet its financial payment obligation to one of these merchants. • ATM Guarantee. PULSE entered into contractual relationships with certain international ATM acquirers in which DFS Services LLC retains counterparty exposure if an issuer fails to fulfill its settlement obligation. • Global Network Alliance Guarantee. Discover Network, Diners Club and PULSE have entered into contractual relationships with certain international payment networks in which DFS Services LLC retains the counterparty exposure if a network fails to fulfill its settlement obligation. The maximum potential amount of future payments related to such contingent obligations is dependent upon the transaction volume processed between the time a potential counterparty defaults on its settlement and the time at which the Company disables the settlement of any further transactions for the defaulting party. The Company has some contractual remedies to offset these counterparty settlement exposures (such as letters of credit or pledged deposits), however, there is no limitation on the maximum amount the Company may be liable to pay. The actual amount of the potential exposure cannot be quantified as the Company cannot determine whether particular counterparties will fail to meet their settlement obligations. In the event all licensees and/or issuers were to become unable to settle their transactions, the Company estimates its maximum potential counterparty exposures to these settlement guarantees would be approximately $100 million as of December 31, 2023. The Company believes that the estimated amounts of maximum potential future payments are not representative of the Company’s actual potential loss exposure given Diners Club’s and PULSE’s insignificant historical losses from these counterparty exposures. As of December 31, 2023, the Company had not recorded any contingent liability in the consolidated statements of financial condition for these counterparty exposures and management believes that the probability of any payments under these arrangements is low. Discover Network Merchant Chargeback Guarantees The Company operates the Discover Network, issues payment cards and permits third parties to issue payment cards. The Company is contingently liable for certain transactions processed on the Discover Network in the event of a dispute between the payment card customer and a merchant. The contingent liability arises if the disputed transaction involves a merchant or merchant acquirer with whom the Discover Network has a direct relationship. If a dispute is resolved in the customer’s favor, the Discover Network will credit or refund the disputed amount to the Discover Network card issuer, who in turn credits its customer’s account. The Discover Network will then charge back the disputed amount of the payment card transaction to the merchant or merchant acquirer, where permitted by the applicable agreement, to seek recovery of amounts already paid to the merchant for payment card transactions. If the Discover Network is unable to collect the amount subject to dispute from the merchant or merchant acquirer (e.g., in the event of merchant default or dissolution or after expiration of the time period for chargebacks in the applicable agreement), the Discover Network will bear the loss for the amount credited or refunded to the customer. In most instances, a loss by the Discover Network is unlikely to arise in connection with payments on card transactions because most products or services are delivered when purchased and credits are issued by merchants on returned items in a timely fashion, thus minimizing the likelihood of cardholder disputes with respect to amounts paid by the Discover Network. However, where the product or service is not scheduled to be provided to the customer until a later date following the purchase, the likelihood of a contingent payment obligation by the Discover Network increases. Losses related to merchant chargebacks were not material for the years ended December 31, 2023, 2022 and 2021. The maximum potential amount of obligations of the Discover Network arising from such contingent obligations is estimated to be the portion of the total Discover Network transaction volume processed to date for which timely and valid disputes may be raised under applicable law and relevant issuer and customer agreements. There is no limitation on the maximum amount the Company may be liable to pay to issuers. However, the Company believes that such amount is not representative of the Company’s actual potential loss exposure based on the Company’s historical experience. The actual amount of the potential exposure cannot be quantified as the Company cannot determine whether the current or cumulative transaction volumes may include or result in disputed transactions. The following table summarizes certain information regarding merchant chargeback guarantees (dollars in millions): For the Years Ended December 31, 2023 2022 2021 Aggregate sales transaction volume (1) $ 257,611 $ 256,237 $ 223,360 (1) Represents transactions processed on the Discover Network for which a potential liability exists that, in aggregate, can differ from credit card sales volume. The Company did not record any contingent liability in the consolidated financial statements for merchant chargeback guarantees as of December 31, 2023 and 2022. The Company mitigates the risk of potential loss exposure by withholding settlement from merchants, obtaining third-party guarantees, or obtaining escrow deposits or letters of credit from certain merchant acquirers or merchants that are considered a higher risk due to various factors such as time delays in the delivery of products or services. As of December 31, 2023 and 2022, the Company had escrow deposits and settlement withholdings of $10 million and $11 million, respectively, which are recorded in interest-bearing deposit accounts and accrued expenses and other liabilities on the Company’s consolidated statements of financial condition.

Litigation and Regulatory Matte

Litigation and Regulatory Matters	12 Months Ended
	Dec. 31, 2023
Loss Contingency [Abstract]
Litigation and Regulatory Matters	Litigation and Regulatory Matters In the normal course of business, from time to time, the Company has been named as a defendant in various legal actions, including arbitrations, class actions and other litigation, arising in connection with its activities. Certain of the actual or threatened legal actions include claims for substantial compensatory and/or punitive damages or claims for indeterminate amounts of damages. The litigation process is not predictable and can lead to unexpected results. The Company contests liability and/or the amount of damages as appropriate in each pending matter. The Company has historically offered its customers an arbitration clause in its customer agreements. The arbitration clause allows the Company and its customers to quickly and economically resolve disputes. Additionally, the arbitration clause has in some instances limited the costs of, and the Company’s exposure to, litigation. Future legal and regulatory challenges and prohibitions may cause the Company to discontinue its offering and use of such clauses. From time to time, the Company is involved in legal actions challenging its arbitration clause. Bills may be periodically introduced in Congress to directly or indirectly prohibit the use of pre-dispute arbitration clauses. The Company is also involved, from time to time, in other reviews, investigations and proceedings (both formal and informal) by governmental agencies regarding the Company’s business including, among other matters, regulatory, accounting, tax and other operational matters. The investigations and proceedings may result in significant adverse judgments, settlements, fines, penalties, injunctions, decreases in regulatory ratings, customer restitution or other relief. These outcomes could materially impact the Company’s consolidated financial statements, increase its cost of operations, or limit the Company’s ability to execute its business strategies and engage in certain business activities. Certain subsidiaries of the Company are subject to consent orders with the Consumer Financial Protection Bureau (“CFPB”) and FDIC, as described below. Pursuant to powers granted under federal banking laws, regulatory agencies have broad and sweeping discretion and may assess civil money penalties, require changes to certain business practices or require customer restitution at any time. In accordance with applicable accounting guidance, the Company establishes a liability for legal and regulatory matters when those matters create loss contingencies that are both probable and estimable. Litigation and regulatory settlement-related expense was $17 million, $15 million and $59 million for the years ended December 31, 2023, 2022 and 2021, respectively. There may be an exposure to loss in excess of any amounts accrued. The Company believes the estimate of the aggregate range of reasonably possible losses (meaning the likelihood of losses is more than remote but less than likely), in excess of the amounts that the Company has accrued for legal and regulatory proceedings, is up to $230 million as of December 31, 2023. This estimated range of reasonably possible losses is based on currently available information for those proceedings in which the Company is involved and considers the Company’s best estimate of such losses for those matters for which an estimate can be made. It does not represent the Company’s maximum potential loss exposure. Various aspects of the legal proceedings underlying the estimated range will change from time to time and actual results may vary significantly from the estimate. The Company’s estimated range noted above involves significant judgment, given the varying stages of the proceedings, the existence of numerous yet to be resolved issues, the breadth of the claims (often spanning multiple years and, in some cases, a wide range of business activities), unspecified damages and/or the novelty of the legal issues presented. The outcome of pending matters could adversely affect the Company’s reputation and be material to the Company’s consolidated financial condition, operating results and cash flows for a particular future period, depending on, among other things, the level of the Company’s income for such period. In July 2015, the Company announced that its subsidiaries, Discover Bank, The Student Loan Corporation and Discover Products Inc. (the “Discover Subsidiaries”), agreed to a consent order with the CFPB with respect to certain private student loan servicing practices (the “2015 Order”). The 2015 Order expired in July 2020. In December 2020, the Discover Subsidiaries agreed to a consent order (the “2020 Order”) with the CFPB resolving the agency’s investigation into Discover Bank’s compliance with the 2015 Order. In connection with the 2020 Order, Discover is required to implement a redress and compliance plan and must pay at least $10 million in consumer redress to consumers who may have been harmed and has paid a $25 million civil money penalty to the CFPB. On September 25, 2023, following the consent of the Board of Directors of Discover Bank, the FDIC issued a consent order (the “2023 Order”) to Discover Bank, a subsidiary of the Company. The 2023 Order addresses shortcomings in Discover Bank’s compliance management system for consumer protection laws and related matters. It does not contain any monetary penalties or fines. As part of the 2023 Order, Discover Bank agreed to improve its consumer compliance management system and enhance related corporate governance and enterprise risk management practices, and increase the level of Board oversight over such matters. Discover Bank has been taking significant steps to strengthen the organization’s compliance management system and address the other issues identified in the 2023 Order. In addition, Discover added two new independent directors with significant banking experience to the Boards of Discover and Discover Bank in the third quarter of 2023. Management and the Board are committed to meeting all the requirements of the 2023 Order. Discover Bank is working diligently to complete items required by the 2023 Order. This includes having retained third party consultants to conduct independent reviews and the submission of action plans to the FDIC by the required deadlines for review and feedback. The actions completed to date, taken together with actions previously undertaken to improve and enhance its compliance management system and enhance related corporate governance, address multiple consent order objectives, however, many provisions require longer term implementation. Depending on regulatory feedback, the timing of approvals and sustainability periods, necessary work is not likely to be completed until at least 2025. On March 8, 2016, a class-action lawsuit was filed against the Company, other credit card networks, other issuing banks and EMVCo in the U.S. District Court for the Northern District of California (B&R Supermarket, Inc., d/b/a Milam’s Market, et al. v. Visa, Inc., et al.) alleging a conspiracy by defendants to shift fraud liability to merchants with the migration to the EMV security standard and chip technology. The plaintiffs assert joint and several liability among the defendants and seek unspecified damages, including treble damages, attorneys’ fees, costs and injunctive relief. The Company filed its motion to compel arbitration, motion for summary judgment, and Daubert challenges on November 30, 2022, and awaits rulings. The Company is not in a position at this time to assess the likely outcome or its exposure, if any, with respect to this matter. However, the Company will seek to defend itself vigorously against all claims asserted by the plaintiffs. Card Product Misclassification As reported in the second quarter of 2023, beginning in 2007, the Company incorrectly classified certain credit card accounts into its highest merchant and merchant acquirer pricing tier. The misclassification affected pricing for certain merchants and merchant acquirers, but not for cardholders. In the second quarter of 2023, the Company recorded a liability of $365 million within accrued expenses and other liabilities to provide refunds to merchants and merchant acquirers as a result of the card product misclassification. As of December 31, 2023, the balance of the liability was $375 million, reflecting an additional $11 million for the estimated effect of the current price tiering on discount and interchange assessments recorded in each of the third and fourth quarters of 2023. As of December 31, 2023, $12 million of disbursements had been made against this liability as the Company continues to develop its plan to provide refunds to merchants and merchant acquirers and engage in ongoing discussions about such plans with its regulators. Regulators may impose other requirements that may result in additional charges or a remediation amount that differs, possibly materially, from the Company’s current estimate. Management has corrected the card product misclassification as of November 2023, and the Company remains in discussions with its regulators regarding this matter. The Company expects these discussions will likely result in enforcement actions, which may include, among other remedies, monetary penalties, the amount of which cannot be estimated at this time. In addition, the Company and its subsidiaries have been named as defendants in various lawsuits, including putative class actions on behalf of affected merchants, a putative class action on behalf of shareholders and shareholder derivative actions. The Company also is cooperating with a Securities and Exchange Commission (“SEC”) investigation into the card product misclassification matter. The Company believes that additional losses are probable as a result of these actions but is not able to make a reasonable estimate of such losses as of December 31, 2023.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. ASC Topic 820, Fair Value Measurement , provides a three-level hierarchy for classifying the inputs to valuation techniques used to measure fair value of financial instruments based on whether the inputs are observable or unobservable. It also requires certain disclosures about those measurements. The three-level valuation hierarchy is as follows: • Level 1 : Fair values determined by Level 1 inputs are defined as those that utilize quoted prices (unadjusted) in active markets for identical assets or liabilities that the Company has the ability to access. • Level 2 : Fair values determined by Level 2 inputs are those that utilize inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets and liabilities in active or inactive markets, quoted prices for the identical assets in an inactive market and inputs other than quoted prices that are observable for the asset or liability, such as interest rates and yield curves that are observable at commonly quoted intervals. The Company evaluates factors such as the frequency of transactions, the size of the bid-ask spread and the significance of adjustments made when considering transactions involving similar assets or liabilities to assess the relevance of those observed prices. If relevant and observable prices are available, the fair values of the related assets or liabilities would be classified as Level 2. • Level 3 : Fair values determined by Level 3 inputs are those based on unobservable inputs and include situations where there is little, if any, market activity for the asset or liability being valued. In instances where the inputs used to measure fair value may fall into different levels of the fair value hierarchy, the level in the fair value hierarchy in which the measurements are classified is based on the lowest level input that is significant to the fair value measurement in its entirety. Accordingly, the Company may utilize both observable and unobservable inputs in determining the fair values of financial instruments classified within the Level 3 category. The Company evaluates the classification of each fair value measurement within the hierarchy at least quarterly. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and involves consideration of factors specific to the asset or liability. Furthermore, certain techniques used to measure fair value involve some degree of judgment and, as a result, are not necessarily indicative of the amounts the Company would realize in a current market exchange. Assets and Liabilities Measured at Fair Value on a Recurring Basis Assets and liabilities measured at fair value on a recurring basis are as follows (dollars in millions): Quoted Price in Active Markets Significant Other Observable Inputs Significant Unobservable Inputs Total Balance at December 31, 2023 Assets Fair value - OCI U.S. Treasury and U.S. GSE securities $ 12,928 $ 9 $ — $ 12,937 Residential mortgage-backed securities - Agency — 465 — 465 Available-for-sale investment securities $ 12,928 $ 474 $ — $ 13,402 Derivative financial instruments - cash flow hedges (1) $ — $ 2 $ — $ 2 Fair value - Net income Marketable equity securities $ 1 $ — $ — $ 1 Derivative financial instruments - fair value hedges (1) $ — $ 2 $ — $ 2 Balance at December 31, 2022 Assets Fair value - OCI U.S. Treasury and U.S. GSE securities $ 11,416 $ 7 $ — $ 11,423 Residential mortgage-backed securities - Agency — 564 — 564 Available-for-sale investment securities $ 11,416 $ 571 $ — $ 11,987 Derivative financial instruments - cash flow hedges (1) $ — $ 1 $ — $ 1 Fair value - Net income Marketable equity securities $ 41 $ — $ — $ 41 Liabilities Fair value - OCI Derivative financial instruments - cash flow hedges (1) $ — $ 3 $ — $ 3 Fair value - Net income Derivative financial instruments - fair value hedges (1) $ — $ 2 $ — $ 2 (1) Derivative instrument carrying values in an asset or liability position are presented as part of other assets or accrued expenses and other liabilities, respectively, in the Company’s consolidated statements of financial condition. Available-for-Sale Investment Securities Investment securities classified as available-for-sale consist of U.S. Treasury and U.S. GSE securities and RMBS. The fair value estimates of investment securities classified as Level 1, consisting of U.S. Treasury securities, are determined based on quoted market prices for the same securities. The fair value estimates of U.S. GSE securities and RMBS are classified as Level 2 and are valued by maximizing the use of relevant observable inputs, including quoted prices for similar securities, benchmark yield curves and market-corroborated inputs. The Company validates the fair value estimates provided by pricing services primarily by comparing to valuations obtained through other pricing sources. The Company evaluates pricing variances among different pricing sources to ensure that the valuations utilized are reasonable. The Company also corroborates the reasonableness of the fair value estimates with analysis of trends of significant inputs, such as market interest rate curves. The Company further performs due diligence in understanding the procedures and techniques performed by the pricing services to derive fair value estimates. At December 31, 2023, amounts reported in RMBS reflect U.S. government agency and U.S. GSE obligations issued by Ginnie Mae, Fannie Mae and Freddie Mac with an aggregate par value of $480 million, a weighted-average coupon of 4.09% and a weighted-average remaining maturity of four years. Marketable Equity Securities The Company holds non-controlling equity positions in payment service entities that have actively traded stock and therefore have readily determinable fair values. The Company classifies these equity securities as Level 1, the fair value estimates of which are determined based on quoted share prices for the same securities. Derivative Financial Instruments The Company’s derivative financial instruments consist of interest rate swaps and foreign exchange forward contracts. These instruments are classified as Level 2 as their fair values are estimated using proprietary pricing models, containing certain assumptions based on readily observable market-based inputs, including interest rate curves, option volatility and foreign currency forward and spot rates. In determining fair values, the pricing models use widely accepted valuation techniques, including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity and the observable market-based inputs. The fair values of the interest rate swaps are determined using the market standard methodology of netting the discounted future fixed cash receipts (or payments) and the discounted expected variable cash payments (or receipts). The variable cash payments are based on an expectation of future interest rates derived from the observable market interest rate curves. The Company considers collateral and master netting agreements that mitigate credit exposure to counterparties in determining the counterparty credit risk valuation adjustment. The fair values of the currency instruments are valued by comparing the contracted forward exchange rate pertaining to the specific contract maturities to the current market exchange rate. The Company validates the fair value estimates of interest rate swaps primarily through comparison to the fair value estimates computed by the counterparties to each of the derivative transactions. The Company evaluates pricing variances among different pricing sources to ensure that the valuations utilized are reasonable. The Company also corroborates the reasonableness of the fair value estimates with analysis of trends of significant inputs, such as market interest rate curves. The Company performs due diligence in understanding the impact of any changes to the valuation techniques performed by proprietary pricing models before implementation, working closely with the third-party valuation service and reviewing the service’s control objectives at least annually. The Company corroborates the fair value of foreign exchange forward contracts through independent calculation of the fair value estimates. Assets and Liabilities Measured at Fair Value on a Non-Recurring Basis The Company also has assets that, under certain conditions, are subject to measurement at fair value on a non-recurring basis. These assets include those associated with acquired businesses, including goodwill. For these assets, measurement at fair value in periods subsequent to the initial recognition of the assets may be applicable whenever one is tested for impairment. No impairments were recognized related to these assets for the years ended December 31, 2023 and 2022. Financial Instruments Measured at Other Than Fair Value The following tables disclose the estimated fair value of the Company’s financial assets and financial liabilities that are not required to be carried at fair value (dollars in millions): Balance at December 31, 2023 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Carrying Value Assets Amortized cost Residential mortgage-backed securities - Agency $ — $ 234 $ — $ 234 $ 253 Held-to-maturity investment securities $ — $ 234 $ — $ 234 $ 253 Net loan receivables $ — $ — $ 126,940 $ 126,940 $ 119,126 Carrying value approximates fair value (1) Cash and cash equivalents $ 11,685 $ — $ — $ 11,685 $ 11,685 Restricted cash $ 43 $ — $ — $ 43 $ 43 Accrued interest receivables (2) $ — $ 1,450 $ — $ 1,450 $ 1,450 Liabilities Amortized cost Time deposits (3) $ — $ 45,333 $ — $ 45,333 $ 45,240 Short-term borrowings $ — $ 750 $ — $ 750 $ 750 Long-term borrowings - owed to securitization investors $ — $ 10,770 $ 65 $ 10,835 $ 10,993 Other long-term borrowings — 9,469 — 9,469 9,588 Long-term borrowings $ — $ 20,239 $ 65 $ 20,304 $ 20,581 Carrying value approximates fair value (1) Accrued interest payables (2) $ — $ 421 $ — $ 421 $ 421 Balance at December 31, 2022 Assets Amortized cost Residential mortgage-backed securities - Agency $ — $ 199 $ — $ 199 $ 221 Held-to-maturity investment securities $ — $ 199 $ — $ 199 $ 221 Net loan receivables $ — $ — $ 110,796 $ 110,796 $ 104,746 Carrying value approximates fair value (1) Cash and cash equivalents $ 8,856 $ — $ — $ 8,856 $ 8,856 Restricted cash $ 41 $ — $ — $ 41 $ 41 Accrued interest receivables (2) $ — $ 1,211 $ — $ 1,211 $ 1,211 Liabilities Amortized cost Time deposits (3) $ — $ 32,710 $ — $ 32,710 $ 33,070 Long-term borrowings - owed to securitization investors $ — $ 9,862 $ 84 $ 9,946 $ 10,259 Other long-term borrowings — 9,468 — 9,468 9,849 Long-term borrowings $ — $ 19,330 $ 84 $ 19,414 $ 20,108 Carrying value approximates fair value (1) Accrued interest payables (2) $ — $ 308 $ — $ 308 $ 308 (1) The carrying values of these assets and liabilities approximate fair value due to their short-term nature. (2) Accrued interest receivable and payable carrying values are presented as part of other assets and accrued expenses and other liabilities, respectively, in the Company’s consolidated statements of financial condition. (3) Excludes deposits without contractually defined maturities for all periods presented.

Derivatives and Hedging Activit

Derivatives and Hedging Activities	12 Months Ended
	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	Derivatives and Hedging Activities The Company uses derivatives to manage its exposure to various financial risks. The Company does not enter into derivatives for trading or speculative purposes. Certain derivatives used to manage the Company’s exposure to foreign currency are not designated as hedges and do not qualify for hedge accounting. Derivatives may give rise to counterparty credit risk, which generally is mitigated through collateral arrangements as described under the sub-heading “— Collateral Requirements and Credit-Risk Related Contingency Features.” The Company enters into derivative transactions with established dealers that meet minimum credit criteria established by the Company. All counterparties must be pre-approved before engaging in any transaction with the Company. The Company regularly monitors counterparties to ensure compliance with the Company’s risk policies and limits. In determining the counterparty credit risk valuation adjustment for the fair values of derivatives, if any, the Company considers collateral and legally enforceable master netting agreements that mitigate credit exposure to related counterparties. All derivatives are recorded in other assets at their gross positive fair values and in accrued expenses and other liabilities at their gross negative fair values. See Note 20: Fair Value Measurements for a description of the valuation methodologies used for derivatives. Cash collateral amounts associated with derivative positions that are cleared through an exchange are legally characterized as settlement of the derivative positions. Such collateral amounts are reflected as offsets to the associated derivatives balances recorded in other assets or in accrued expenses and other liabilities. Other cash collateral posted and held balances are recorded in other assets and deposits, respectively, in the consolidated statements of financial condition. Collateral amounts recorded in the consolidated statements of financial condition are based on the net collateral posted or held position for each applicable legal entity’s master netting arrangement with each counterparty. Derivatives Designated as Hedges Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows arising from changes in interest rates, or other types of forecasted transactions, are considered cash flow hedges. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Cash Flow Hedges The Company uses interest rate swaps to manage its exposure to variability in cash flows related to changes in interest rates on interest-earning assets and funding instruments. These interest rate swaps qualify for hedge accounting in accordance with ASC Topic 815, Derivatives and Hedging (“ASC 815”). At December 31, 2023 and 2022, the Company’s outstanding cash flow hedges primarily relate to interest receipts from credit card receivables and had an initial maximum period of five years and three years, respectively. The change in the fair value of derivatives designated as cash flow hedges is recorded in OCI and is subsequently reclassified into earnings in the period that the hedged forecasted cash flows affect earnings. Amounts reported in AOCI related to derivatives at December 31, 2023, will be reclassified to interest income and interest expense as interest receipts and payments are accrued on the Company’s then outstanding credit card receivables and certain floating-rate debt, respectively. During the next 12 months, the Company estimates it will reclassify $79 million into pretax earnings related to its cash flow hedges. Fair Value Hedges The Company is exposed to changes in the fair value of its fixed-rate debt obligations due to changes in interest rates. The Company uses interest rate swaps to manage its exposure to changes in the fair value of certain fixed-rate long-term borrowings, including securitized debt and bank notes, attributable to changes in the respective benchmark rates. These interest rate swaps qualify as fair value hedges in accordance with ASC 815. Changes in the fair values of both (i) the derivatives and (ii) the hedged long-term borrowings attributable to the interest rate risk being hedged are recorded in interest expense and generally provide substantial offset to one another. Derivatives Not Designated as Hedges Foreign Exchange Forward Contracts The Company has foreign exchange forward contracts that are economic hedges and are not designated as accounting hedges. The Company enters into foreign exchange forward contracts to manage foreign currency risk. Changes in the fair value of these contracts are recorded in other income on the consolidated statements of income. Derivatives Cleared Through an Exchange Cash variation margin payments on derivatives cleared through an exchange are legally considered settlement payments and are accounted for with corresponding derivative positions as one unit of account and not presented separately as collateral. With settlement payments on derivative positions cleared through this exchange reflected as offsets to the associated derivative asset and liability balances, the fair values of derivative instruments and collateral balances shown are generally reduced. Derivatives Activity The following table summarizes the fair value (including accrued interest) and outstanding notional amounts of derivative instruments and related collateral balances (dollars in millions): December 31, 2023 2022 Notional Number of Derivative Assets Derivative Liabilities Notional Derivative Assets Derivative Liabilities Derivatives designated as hedges Interest rate swaps — cash flow hedge $ 10,650 17 $ 2 $ — $ 5,000 $ 1 $ 3 Interest rate swaps — fair value hedge $ 8,650 10 2 — $ 4,425 — 2 Derivatives not designated as hedges Foreign exchange forward contracts (1) $ 29 7 — — $ 25 — — Total gross derivative assets/liabilities (2) 4 — 1 5 Less: collateral held/posted (3) — — — (5) Total net derivative assets/liabilities $ 4 $ — $ 1 $ — (1) The foreign exchange forward contracts have notional amounts of EUR 6 million, GBP 6 million, SGD 1 million, INR 1.1 billion and AUD 2 million as of December 31, 2023, and notional amounts of EUR 6 million, GBP 6 million, SGD 1 million, INR 788 million and AUD 2 million as of December 31, 2022. (2) In addition to the derivatives disclosed in the table, the Company enters into forward contracts to purchase when-issued mortgage-backed securities and tax exempt single family mortgage revenue bonds as part of its community reinvestment initiatives. At December 31, 2023, the Company had one outstanding contract with a total notional amount of $35 million and an immaterial fair value. At December 31, 2022, the Company had one outstanding contract with a total notional amount of $48 million and an immaterial fair value. (3) Collateral amounts, which consist of cash and investment securities, are limited to the related derivative asset/liability balance and do not include excess collateral received/pledged. The following amounts were recorded on the statements of financial condition related to cumulative basis adjustments for fair value hedges (dollars in millions): December 31, 2023 2022 Carrying Amount of Hedged Liabilities Cumulative Amount of Fair Value Hedging Adjustment (Decreasing) the Carrying Amount of Hedged Liabilities (1) Carrying Amount of Hedged Liabilities Cumulative Amount of Fair Value Hedging Adjustment (Decreasing) the Carrying Amount of Hedged Liabilities (1) Long-term borrowings $ 8,620 $ — $ 4,386 $ (3) (1) The balance includes $12 million and $28 million of cumulative hedging adjustments related to discontinued hedging relationships as of December 31, 2023 and 2022, respectively. The following table summarizes the impact of the derivative instruments on income and indicates where within the consolidated financial statements such impact is reported (dollars in millions): Location and Amount of (Losses) Gains Recognized on the Consolidated Statements of Income Interest Expense Other Income Long-Term Interest Income For the Year Ended December 31, 2023 Total amounts of income and expense line items presented in the consolidated statements of income, where the effects of fair value or cash flow hedges are recorded $ (855) $ 14,438 $ 85 The effects of cash flow and fair value hedging Gains (losses) on cash flow hedging relationships Amounts reclassified from OCI into earnings $ 9 $ (91) $ — (Losses) gains on fair value hedging relationships (Losses) gains on hedged items $ (19) $ — $ — (Losses) gains on interest rate swaps (80) — — Total (losses) gains on fair value hedging relationships $ (99) $ — $ — For the Year Ended December 31, 2022 Total amounts of income and expense line items presented in the consolidated statements of income, where the effects of fair value or cash flow hedges are recorded $ (606) $ 10,632 $ 75 The effects of cash flow and fair value hedging (Losses) gains on cash flow hedging relationships Amounts reclassified from OCI into earnings $ (2) $ (2) $ — Gains (losses) on fair value hedging relationships Gains on hedged items $ 66 $ — $ — (Losses) gains on interest rate swaps (70) — — Total (losses) gains on fair value hedging relationships $ (4) $ — $ — The effects of derivatives not designated in hedging relationships Gains on derivatives not designated as hedges $ — $ — $ 1 For the Year Ended December 31, 2021 Total amounts of income and expense line items presented in the consolidated statements of income, where the effects of fair value or cash flow hedges are recorded $ (473) $ 8,717 $ 66 The effects of cash flow and fair value hedging (Losses) gains on cash flow hedging relationships Amounts reclassified from OCI into earnings $ (3) $ — $ — Gains (losses) on fair value hedging relationships Gains on hedged items $ 246 $ — $ — (Losses) gains on interest rate swaps (93) — — Total gains on fair value hedging relationships $ 153 $ — $ — For the impact of the derivative instruments on OCI, see Note 13: Accumulated Other Comprehensive Income. Collateral Requirements and Credit-Risk Related Contingency Features The Company has master netting arrangements and minimum collateral posting thresholds with its counterparties for its fair value and cash flow hedge interest rate swaps and foreign exchange forward contracts. The Company has not sought a legal opinion in relation to the enforceability of its master netting arrangements and, as such, does not report any of these positions on a net basis. Collateral is required by either the Company or its subsidiaries or the counterparty depending on the net fair value position of the derivatives held with that counterparty. These collateral receivable or payable amounts are generally not offset against the fair value of these derivatives but are recorded separately in other assets or deposits. Most of the Company’s cash collateral amounts relate to positions cleared through an exchange and are reflected as offsets to the associated derivatives balances recorded in other assets and accrued expenses and other liabilities. The Company also has agreements with certain of its derivative counterparties that contain a provision under which the Company could be declared in default on any of its derivative obligations if the Company defaults on any of its indebtedness, including default where the lender has not accelerated repayment of the indebtedness.

Segment Disclosures

Segment Disclosures	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Segment Disclosures	Segment Disclosures The Company manages its business activities in two segments: Digital Banking and Payment Services. • Digital Banking: The Digital Banking segment includes Discover-branded credit cards issued to individuals on the Discover Network and other consumer products and services, including private student loans, personal loans, home loans and deposit products. The majority of Digital Banking revenues relate to interest income earned on the segment’s loan products. Additionally, the Company’s credit card products generate substantially all revenues related to discount and interchange, protection products and loan fee income. • Payment Services: The Payment Services segment includes PULSE, an ATM, debit and electronic funds transfer network; Diners Club, a global payments network; and the Company’s Network Partners business, which provides payment transaction processing and settlement services on the Discover Network. The majority of Payment Services revenues relate to transaction processing revenue from PULSE and royalty and licensee revenue from Diners Club. The business segment reporting provided to and used by the Company’s chief operating decision-maker is prepared using the following principles and allocation conventions: • The Company aggregates operating segments when determining reportable segments. • Corporate overhead is not allocated between segments; all corporate overhead is included in the Digital Banking segment. • Through its operation of the Discover Network, the Digital Banking segment incurs fixed marketing, servicing and infrastructure costs that are not specifically allocated among the segments, except for an allocation of direct and incremental costs driven by the Company’s Payment Services segment. • The Company’s assets are not allocated among the operating segments in the information reviewed by the Company’s chief operating decision-maker. • The revenues of each segment are derived from external sources. The segments do not earn revenue from intercompany sources. • Income taxes are not specifically allocated between the operating segments in the information reviewed by the Company’s chief operating decision maker. The following table presents segment data (dollars in millions): Digital Payment Total For the Year Ended December 31, 2023 Interest income Credit card loans $ 14,438 $ — $ 14,438 Private student loans 1,033 — 1,033 Personal loans 1,156 — 1,156 Other loans 326 — 326 Other interest income 892 — 892 Total interest income 17,845 — 17,845 Interest expense 4,746 — 4,746 Net interest income 13,099 — 13,099 Provision for credit losses 6,018 — 6,018 Other income 2,311 450 2,761 Other expense 5,822 194 6,016 Income before income taxes $ 3,570 $ 256 $ 3,826 For the Year Ended December 31, 2022 Interest income Credit card loans $ 10,632 $ — $ 10,632 Private student loans 831 — 831 Personal loans 872 — 872 Other loans 167 — 167 Other interest income 362 — 362 Total interest income 12,864 — 12,864 Interest expense 1,865 — 1,865 Net interest income 10,999 — 10,999 Provision for credit losses 2,359 — 2,359 Other income 2,118 176 2,294 Other expense 5,049 167 5,216 Income before income taxes $ 5,709 $ 9 $ 5,718 For the Year Ended December 31, 2021 Interest income Credit card loans $ 8,717 $ — $ 8,717 Private student loans 742 — 742 Personal loans 878 — 878 Other loans 114 — 114 Other interest income 200 — 200 Total interest income 10,651 — 10,651 Interest expense 1,134 — 1,134 Net interest income 9,517 — 9,517 Provision for credit losses 218 — 218 Other income 1,745 789 2,534 Other expense 4,549 256 4,805 Income before income taxes $ 6,495 $ 533 $ 7,028

Revenue from Contracts with Cus

Revenue from Contracts with Customers	12 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Revenue from Contracts with Customers	Revenue from Contracts with Customers ASC Topic 606, Revenue from Contracts with Customers (“ASC 606”), generally applies to the sales of any good or service for which no other specific accounting guidance is provided. ASC 606 defines a principles-based model under which revenue from a contract is allocated to the distinct performance obligations within the contract and recognized in income as each performance obligation is satisfied. The Company’s revenue that is subject to this model includes discount and interchange, protection products fees, transaction processing revenue and certain amounts classified as other income. The following table presents revenue from contracts with customers disaggregated by business segment and reconciles revenue from contracts with customers to total other income (dollars in millions): Digital Payment Total For the Year Ended December 31, 2023 Other income subject to ASC 606 Discount and interchange revenue, net (1) $ 1,360 $ 87 $ 1,447 Protection products revenue 172 — 172 Transaction processing revenue — 303 303 Other income 16 69 85 Total other income subject to ASC 606 (2) 1,548 459 2,007 Other income not subject to ASC 606 Loan fee income 763 — 763 Gains (losses) on equity investments — (9) (9) Total other income (loss) not subject to ASC 606 763 (9) 754 Total other income by operating segment $ 2,311 $ 450 $ 2,761 For the Year Ended December 31, 2022 Other income subject to ASC 606 Discount and interchange revenue, net (1) $ 1,301 $ 79 $ 1,380 Protection products revenue 172 — 172 Transaction processing revenue — 249 249 Other income 11 64 75 Total other income subject to ASC 606 (2) 1,484 392 1,876 Other income not subject to ASC 606 Loan fee income 632 — 632 Gains (losses) on equity investments 2 (216) (214) Total other income not subject to ASC 606 634 (216) 418 Total other income by operating segment $ 2,118 $ 176 $ 2,294 For the Year Ended December 31, 2021 Other income subject to ASC 606 Discount and interchange revenue, net (1) $ 1,115 $ 73 $ 1,188 Protection products revenue 165 — 165 Transaction processing revenue — 227 227 Other income — 66 66 Total other income subject to ASC 606 (2) 1,280 366 1,646 Other income not subject to ASC 606 Loan fee income 464 — 464 Gains on equity investments 1 423 424 Total other income not subject to ASC 606 465 423 888 Total other income by operating segment $ 1,745 $ 789 $ 2,534 (1) Net of rewards, including Cashback Bonus rewards, of $3.1 billion, $3.0 billion and $2.5 billion for the years ended December 31, 2023, 2022 and 2021, respectively. (2) Excludes $15 million, $10 million and $2 million deposit product fees that are reported within net interest income for the years ended December 31, 2023, 2022 and 2021, respectively. For a detailed description of the Company’s significant revenue recognition accounting policies, see Note 2: Summary of Significant Accounting Policies.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions In the ordinary course of business, the Company offers consumer financial products to its directors, executive officers and certain members of their families. These products are offered on substantially the same terms as those prevailing at the time for comparable transactions with unrelated parties and these receivables are included in the loan receivables in the Company’s consolidated statements of financial condition. They were not material to the Company’s financial position or results of operations.

Parent Company Condensed Financ

Parent Company Condensed Financial Information	12 Months Ended
	Dec. 31, 2023
Condensed Financial Information Disclosure [Abstract]
Parent Company Condensed Financial Information	Parent Company Condensed Financial Information The following Parent Company financial statements are provided in accordance with SEC rules, which require such disclosure when the restricted net assets of consolidated subsidiaries exceed 25% of consolidated net assets. Discover Financial Services (Parent Company Only) Condensed Statements of Financial Condition December 31, 2023 2022 (dollars in millions) Assets Cash and cash equivalents (1) $ 3,509 $ 3,155 Restricted cash 75 20 Notes receivable from subsidiaries (2) 1,650 1,759 Investment in bank subsidiary (3) 12,791 11,685 Investments in non-bank subsidiaries (3) 1,116 877 Other assets 871 811 Total assets $ 20,012 $ 18,307 Liabilities and Stockholders’ Equity Non-interest-bearing deposit accounts $ 2 $ 2 Short-term borrowings from subsidiaries 390 115 Long-term borrowings 4,469 3,487 Accrued expenses and other liabilities 323 359 Total liabilities 5,184 3,963 Stockholders’ equity 14,828 14,344 Total liabilities and stockholders’ equity $ 20,012 $ 18,307 (1) The Parent Company had $3.5 billion and $3.1 billion in a money market deposit account at Discover Bank as of December 31, 2023 and 2022, respectively, which is included in cash and cash equivalents. These funds are available to the Parent for liquidity purposes. (2) The Parent Company had a balance of $1.3 billion representing advances to Discover Bank as of December 31, 2023 and 2022, which is included in notes receivable from subsidiaries. (3) Figures presented as of December 31, 2022 have been updated from amounts previously disclosed in Part II Item 5 — Other Information in the Company’s Form 10-Q for the period ended September 30, 2023, due to certain intercompany allocations recorded in the fourth quarter. Discover Financial Services (Parent Company Only) Condensed Statements of Comprehensive Income For the Years Ended December 31, 2023 2022 2021 (dollars in millions) Interest income $ 240 $ 98 $ 33 Interest expense 189 189 199 Net interest expense 51 (91) (166) Dividends from bank subsidiary 1,700 4,000 3,250 Dividends from non-bank subsidiaries 11 688 — Other income 4 — — Total income 1,766 4,597 3,084 Other expense (2) 6 10 Income before income tax benefit and equity in undistributed net income of subsidiaries 1,768 4,591 3,074 Income tax benefit (expense) (7) 25 25 Equity in undistributed net income of subsidiaries 1,179 (242) 2,323 Net income 2,940 4,374 5,422 Other comprehensive (loss) income, net 114 (245) (139) Comprehensive income $ 3,054 $ 4,129 $ 5,283 Discover Financial Services (Parent Company Only) Condensed Statements of Cash Flows For the Years Ended December 31, 2023 2022 2021 (dollars in millions) Cash flows provided by operating activities Net income $ 2,940 $ 4,374 $ 5,422 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed net income of subsidiaries (1,179) 242 (2,323) Non-cash dividend from subsidiary (11) (188) — Stock-based compensation expense 74 89 103 Deferred income taxes 2 (8) (13) Depreciation and amortization 4 32 47 Net gains on investments and other assets (4) — — Changes in assets and liabilities: Increase in other assets (65) (143) (91) (Decrease) increase in accrued expenses and other liabilities (41) 27 24 Net cash provided by operating activities 1,720 4,425 3,169 Cash flows (used for) provided by investing activities (1) Return of capital from sale of subsidiary 2 — — Decrease (increase) in loans to subsidiaries 109 (982) 114 Proceeds from sale of subsidiary 3 — — Net cash provided by (used for) investing activities 114 (982) 114 Cash flows used for financing activities Net increase (decrease) in short-term borrowings from subsidiaries 275 (324) 156 Proceeds from issuance of common stock 12 10 9 Proceeds from issuance of long-term borrowings 993 740 — Maturities and repayment of long-term borrowings (15) (834) (172) Purchases of treasury stock (1,938) (2,359) (2,260) Dividends paid on common and preferred stock (752) (703) (636) Net cash used for financing activities (1,425) (3,470) (2,903) Increase (decrease) in cash, cash equivalents and restricted cash 409 (27) 380 Cash, cash equivalents and restricted cash, at beginning of period 3,175 3,202 2,822 Cash, cash equivalents and restricted cash, at end of period $ 3,584 $ 3,175 $ 3,202 Reconciliation of cash, cash equivalents and restricted cash Cash and cash equivalents $ 3,509 $ 3,155 $ 3,182 Restricted cash 75 20 20 Cash, cash equivalents and restricted cash, at end of period $ 3,584 $ 3,175 $ 3,202 Supplemental disclosure of cash flow information Cash paid during the period for: Interest expense $ 175 $ 159 $ 156 Income taxes, net of income tax refunds $ 22 $ (39) $ (70) (1) Subsequent to the issuance of the audited financial statements for the year ended December 31, 2021, the Company identified an immaterial classification error within cash flows (used for)/provided by investing activities. The correction of this error had no impact on the net cash (used for)/provided by investing activities. Management has evaluated the materiality of this misstatement and concluded it was not material to the prior period.

Immaterial Restatement of Prior

Immaterial Restatement of Prior Period Financial Statements	12 Months Ended
	Dec. 31, 2023
Prior Period Adjustment [Abstract]
Error Correction	Immaterial Restatement of Prior Period Financial Statements As reported in the second quarter of 2023, beginning in 2007, the Company incorrectly classified certain credit card accounts into its highest merchant and merchant acquirer pricing tier. The card product classification impacts the pricing and charging of discount and interchange revenue, which is recorded within discount and interchange revenue, net, on the consolidated statements of income. The Company determined the revenue impact of the incorrect card product classification was immaterial to the consolidated financial statements for all impacted prior periods. For comparative purposes, the Company has made these immaterial corrections to the recognition of discount and interchange revenue, as well as the related impacts to assets, liabilities and retained earnings in the prior periods presented in this Form 10-K. Assets were impacted by adjustments to deferred tax assets, and liabilities were impacted by an adjustment to the liability for estimated refunds to merchants and merchant acquirers. The prior period impacts to the Company's consolidated statement of financial condition were as shown below (dollars in millions): December 31, 2022 As Previously Reported Restatement Impacts As Restated Assets Other Assets $ 4,519 $ 78 $ 4,597 Total Assets $ 131,628 $ 78 $ 131,706 Liabilities and Stockholders' Equity Liabilities Accrued Expenses and other liabilities $ 5,294 $ 324 $ 5,618 Total Liabilities $ 117,038 $ 324 $ 117,362 Stockholders' Equity Retained Earnings $ 28,453 $ (246) $ 28,207 Total Stockholders' Equity $ 14,590 $ (246) $ 14,344 Total Liabilities and Stockholders' Equity $ 131,628 $ 78 $ 131,706 The prior period impacts to the Company's consolidated statements of income and the related impacts to the consolidated statements of comprehensive income were as shown below (dollars in millions): For the Year Ended December 31, 2022 For the Year Ended December 31, 2021 As Previously Reported Restatement Impacts As Restated As Previously Reported Restatement Impacts As Restated Other income Discount and interchange revenue, net $ 1,424 $ (44) $ 1,380 $ 1,224 $ (36) $ 1,188 Total other income $ 2,338 $ (44) $ 2,294 $ 2,570 $ (36) $ 2,534 Other expense Other expense $ 560 $ (20) $ 540 $ 620 $ — $ 620 Total other expense $ 5,236 $ (20) $ 5,216 $ 4,805 $ — $ 4,805 Income before income taxes $ 5,742 $ (24) $ 5,718 $ 7,064 $ (36) $ 7,028 Income tax expense $ 1,350 $ (6) $ 1,344 $ 1,615 $ (9) $ 1,606 Net Income $ 4,392 $ (18) $ 4,374 $ 5,449 $ (27) $ 5,422 Net income allocated to common stockholders $ 4,304 $ (18) $ 4,286 $ 5,351 $ (28) $ 5,323 Basic earnings per common share $ 15.52 $ (0.07) $ 15.45 $ 17.85 $ (0.10) $ 17.75 Diluted earnings per common share $ 15.50 $ (0.06) $ 15.44 $ 17.83 $ (0.09) $ 17.74 The prior period impacts to the Company's consolidated statements of changes in stockholders' equity were as shown below (dollars in millions): Retained Earnings Total Stockholders' Equity As Previously Reported For the Year Ended December 31, 2020 Balance at December 31, 2019 $ 21,290 $ 11,859 Net income $ 1,141 $ 1,141 Balance at December 31, 2020 $ 19,955 $ 10,884 Restatement Impacts For the Year Ended December 31, 2020 Balance at December 31, 2019 $ (185) $ (185) Net income $ (16) $ (16) Balance at December 31, 2020 $ (201) $ (201) As Restated For the Year Ended December 31, 2020 Balance at December 31, 2019 $ 21,105 $ 11,674 Net income $ 1,125 $ 1,125 Balance at December 31, 2020 $ 19,754 $ 10,683 Retained Earnings Total Stockholders' Equity As Previously Reported For the Year Ended December 31, 2021 Balance at December 31, 2020 $ 19,955 $ 10,884 Net income $ 5,449 $ 5,449 Balance at December 31, 2021 $ 24,766 $ 13,408 Restatement Impacts For the Year Ended December 31, 2021 Balance at December 31, 2020 $ (201) $ (201) Net income $ (27) $ (27) Balance at December 31, 2021 $ (228) $ (228) As Restated For the Year Ended December 31, 2021 Balance at December 31, 2020 $ 19,754 $ 10,683 Net income $ 5,422 $ 5,422 Balance at December 31, 2021 $ 24,538 $ 13,180 Retained Earnings Total Stockholders' Equity As Previously Reported For the Year Ended December 31, 2022 Balance at December 31, 2021 $ 24,766 $ 13,408 Net income $ 4,392 $ 4,392 Balance at December 31, 2022 $ 28,453 $ 14,590 Restatement Impacts For the Year Ended December 31, 2022 Balance at December 31, 2021 $ (228) $ (228) Net income $ (18) $ (18) Balance at December 31, 2022 $ (246) $ (246) As Restated For the Year Ended December 31, 2022 Balance at December 31, 2021 $ 24,538 $ 13,180 Net income $ 4,374 $ 4,374 Balance at December 31, 2022 $ 28,207 $ 14,344 The prior period impacts to the Company's consolidated statements of cash flows were as follows (dollars in millions): For the Year Ended December 31, 2022 For the Year Ended December 31, 2021 As Previously Reported Restatement Impacts As Restated As Previously Reported Restatement Impacts As Restated Cash flows provided by operating activities Net Income $ 4,392 $ (18) $ 4,374 $ 5,449 $ (27) $ 5,422 Adjustments to reconcile net income to net cash provided by operating activities: Deferred income taxes $ (427) $ (6) $ (433) $ 327 $ (9) $ 318 Changes in assets and liabilities: Increase in accrued expenses and liabilities $ 1,080 $ 24 $ 1,104 $ 410 $ 36 $ 446 Net cash provided by operating activities $ 7,140 $ — $ 7,140 $ 6,019 $ — $ 6,019 The following tables reflect the impacts of the card product misclassification and subsequent restatements of certain prior period amounts reported on the Parent Company's financial statements. The prior period impacts to the Parent Company's condensed statement of financial condition were as follows (dollars in millions): December 31, 2022 As Previously Reported Restatement Impacts As Restated Investment in bank subsidiary (1) $ 11,922 $ (237) $ 11,685 Investments in non-bank subsidiaries (1) $ 886 $ (9) $ 877 Total assets $ 18,553 $ (246) $ 18,307 Liabilities and Stockholders’ Equity Stockholders' equity $ 14,590 $ (246) $ 14,344 Total liabilities and stockholders' equity $ 18,553 $ (246) $ 18,307 (1) Figures presented have been updated from amounts previously disclosed in Part II Item 5 — Other Information in the Company’s Form 10-Q for the period ended September 30, 2023, due to certain intercompany allocations recorded in the fourth quarter. The prior period impacts to the Parent Company's condensed statements of income and the related impacts to the condensed statements of comprehensive income were as follows (dollars in millions): For the Year Ended December 31, 2022 For the Year Ended December 31, 2021 As Previously Reported Restatement Impacts As Restated As Previously Reported Restatement Impacts As Restated Equity in undistributed net income of subsidiaries $ (224) $ (18) $ (242) $ 2,350 $ (27) $ 2,323 Net income $ 4,392 $ (18) $ 4,374 $ 5,449 $ (27) $ 5,422 Comprehensive income $ 4,147 $ (18) $ 4,129 $ 5,310 $ (27) $ 5,283 The prior period impacts to the Parent Company's condensed statements of cash flows were as follows (dollars in millions): For the Year Ended December 31, 2022 For the Year Ended December 31, 2021 As Previously Reported Restatement Impacts As Restated As Previously Reported Restatement Impacts As Restated Cash flows provided by operating activities Net income $ 4,392 $ (18) $ 4,374 $ 5,449 $ (27) $ 5,422 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed net income of subsidiaries $ 224 $ 18 $ 242 $ (2,350) $ 27 $ (2,323) Net cash provided by operating activities $ 4,425 $ — $ 4,425 $ 3,169 $ — $ 3,169

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On February 19, 2024, the Company and Capital One Financial Corporation jointly announced that they entered into an agreement and plan of merger (the “Merger Agreement”), under which the companies will combine in an all-stock merger, which values Discover at $35.3 billion. Under the terms of the Merger Agreement, holders of Discover common stock will receive 1.0192 shares of Capital One common stock for each share of Discover common stock they own. Capital One shareholders will own approximately 60% of the combined company and Discover shareholders will own approximately 40% of the combined company. The Merger Agreement contains customary representations and warranties, covenants and closing conditions. The Board of Directors of the combined company will have fifteen directors, consisting of the current twelve Capital One Board members and three of the Company’s Board members to be named at a later date.

Background and Basis of Prese_2

Background and Basis of Presentation (Policies)	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation and Significant Accounting Policies	The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the U.S. (“GAAP”).
Use of Estimates	The preparation of financial statements in conformity with GAAP requires the Company to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and related disclosures. These estimates are based on information available as of the date of the consolidated financial statements. The Company believes that the estimates used in the preparation of the consolidated financial statements are reasonable. Actual results could differ from these estimates. Certain prior year amounts have been reclassified to conform to the current year presentation. These reclassifications had no impact on the Company’s consolidated financial condition, results of operations or changes in stockholders’ equity.
Consolidation	Principles of Consolidation The accompanying consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. The Company’s policy is to consolidate all entities in which it owns more than 50% of the outstanding voting stock unless it does not control the entity. However, the Company did not have a controlling voting interest in any entity other than its wholly-owned subsidiaries in the periods presented in the accompanying consolidated financial statements. It is also the Company’s policy to consolidate any VIEs for which the Company is the primary beneficiary, as defined by GAAP. On this basis, the Company consolidates the Discover Card Master Trust I (“DCMT”) and the Discover Card Execution Note Trust (“DCENT”) as well as the student loan securitization trust. The Company is deemed to be the primary beneficiary of each of these trusts since it is, for each, the trust Servicer and the holder of both the residual interest and the majority of the most subordinated interests. Because of those involvements, the Company has, for each trust, (i) the power to direct the activities that most significantly impact the economic performance of the trust and (ii) the obligation (or right) to absorb losses (or receive benefits) of the trust that could potentially be significant. The Company has determined that it was not the primary beneficiary of any other VIE during the years ended December 31, 2023, 2022 and 2021. For investments in any entities in which the Company owns 50% or less of the outstanding voting stock but in which the Company has significant influence over operating and financial decisions, the Company applies the equity method of accounting. The Company also applies the equity method to its investments in qualified affordable housing projects and similar tax credit partnerships. In cases where the Company’s equity investment is less than 20% and significant influence does not exist, such investments are carried at cost as they typically do not have readily determinable fair values, and are adjusted for any impairment in value. Investments in actively traded stock are carried at fair value with changes in fair value recorded as an adjustment to earnings.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents is defined by the Company as cash on deposit with banks, including time deposits and other highly liquid investments with maturities of 90 days or less when purchased, excluding amounts restricted by certain contractual or other obligations. Cash and cash equivalents included $2.0 billion and $1.5 billion of cash and due from banks and $9.7 billion and $7.4 billion of interest-earning deposits at other banks at December 31, 2023 and 2022, respectively.
Restricted Cash	Restricted Cash
Investment Securities	Investment Securities At December 31, 2023, investment securities consisted of debt obligations of the U.S. Treasury and government-sponsored enterprises of the U.S. (“U.S. GSEs”) and mortgage-backed securities issued by government agencies or U.S. GSEs. Investment securities that the Company has the positive intent and ability to hold to maturity are classified as held-to-maturity and are reported at amortized cost. All other investment securities are classified as available-for-sale, as the Company does not hold investment securities for trading purposes. Available-for-sale investment securities are reported at fair value with unrealized gains and losses, net of tax, reported as a component of accumulated other comprehensive income (“AOCI”) included in stockholders’ equity. The Company estimates the fair value of available-for-sale investment securities as more fully discussed in Note 20: Fair Value Measurements. The amortized cost for each held-to-maturity and available-for-sale investment security is adjusted for amortization of premiums or accretion of discounts, as appropriate. Such amortization or accretion is included in interest income. Interest on investment securities is accrued each month in accordance with their contractual terms and recorded in other assets in the consolidated statements of financial condition. The U.S. Treasury and U.S. GSE obligations and mortgage-backed securities issued by government agencies or U.S. GSEs in which the Company invests have long histories with no credit losses and are explicitly or implicitly guaranteed by the U.S. government. Therefore, management has concluded that there is no expectation of non-payment on its investment securities and does not record an allowance for credit losses on these investments.
Loan Receivables	Loan Receivables Loan receivables consist of credit card receivables and other loan receivables. The carrying values of all classes of loan receivables include unamortized net deferred loan origination fees and costs (also see “— Significant Revenue Recognition Accounting Policies — Loan Interest and Fee Income”). The credit card loan receivables carrying amount includes the principal amounts outstanding and uncollected billed interest and fees and is reduced for unearned revenue related to balance transfer fees (also see “— Significant Revenue Recognition Accounting Policies — Loan Interest and Fee Income”). Other loans consist of private student loans, personal loans and other loans and the carrying amount of those loans includes principal amounts outstanding. For private student loans, principal amounts outstanding also include accrued interest that has been capitalized. The Company’s loan receivables are deemed to be held-for-investment at origination or acquisition because management has the intent and ability to hold them for the foreseeable future. Cash flows associated with loans originated or acquired for investment are classified as cash flows from investing activities, regardless of a subsequent change in intent.
Delinquent Loans and Charge-Offs	Delinquent Loans and Net Charge-Offs The entire balance of an account is contractually past due if the minimum payment is not received by the specified date on the customer’s billing statement. Delinquency is reported on loans that are 30 days or more past due. Credit card loans are charged off at the end of the month during which an account becomes 180 days past due. Closed-end unsecured consumer loan receivables are charged off at the end of the month during which an account becomes 120 days contractually past due. Customer bankruptcies and probate accounts are charged off by the end of the month 60 days following the receipt of notification of the bankruptcy or death, but not later than the 180-day or 120-day time frame described above. Receivables associated with alleged or potential fraudulent transactions are reserved for at their net realizable value upon receipt of notification of such fraud through a charge to other expense and are subsequently written off at the end of the month 90 days following notification, but not later than the contractual 180-day or 120-day time frame described above. The Company’s charge-off policies are designed to comply with guidelines established by the Federal Financial Institutions Examination Council (“FFIEC”). The Company’s net charge-offs include the principal amount of loans charged off less principal recoveries and exclude charged-off interest and fees, recoveries of interest and fees and fraud losses. The practice of re-aging an account also may affect loan delinquencies and charge-offs. A re-age is intended to assist delinquent customers who have experienced financial difficulties but who demonstrate both an ability and willingness to repay. Accounts meeting specific criteria are re-aged when the Company and the customer agree on a temporary repayment schedule that may include concessionary terms. With re-aging, the outstanding balance of a delinquent account is returned to a current status. Customers may also qualify for a workout re-age when either a longer term or permanent hardship exists. The Company’s re-age practices are designed to comply with FFIEC guidelines.
Allowance for Credit Losses	Allowance for Credit Losses The Company maintains an allowance for credit losses at a level that is appropriate to absorb net 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. The Company calculates its allowance for credit losses by estimating expected credit losses separately for classes of receivables with similar risk characteristics. This results in segmenting the portfolio by loan product type, which is the level that the Company develops and documents its methodology for determining the allowance for credit losses. The estimate of expected credit losses for each loan product type is based on: (i) a reasonable and supportable forecast period; (ii) a reversion period; and (iii) 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. The Company applies a weighted approach in reverting from the reasonable and supportable forecast period to the post-reversion period. 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. For credit card loans, the Company uses a modeling framework that includes the following components for estimating expected credit losses: • Probability of default: this component estimates the probability of charge-off at different points in time over the life of each loan. • Exposure at default: this component estimates the balance on the loan at the time of default. 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 balance that would remain at the time of charge-off. • Recoveries from 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. • The output of the above three components is adjusted to remove post measurement date activity. For private 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. The components described above for credit card, private student and personal loans are developed utilizing historical data and applicable macroeconomic variable inputs based on statistical analysis and customer 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 private student and personal loans, the Company generally reverts to use of average macroeconomic variables over an appropriate historical period. 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 to borrowers experiencing financial difficulty. 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 restructured. For the remainder of its portfolio, including private 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. Accrued interest receivable 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). Except as noted in the following sentence, an allowance for credit losses is not recorded for unbilled credit card interest or accrued interest receivable on other loan classes as the impact to the allowance for credit losses is not material. Accrued interest receivable on student loans that have not yet entered repayment is included in the estimate of expected 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. 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. As part of certain collection strategies, the Company may modify the terms of loans to customers experiencing financial hardship. Temporary and permanent modifications on credit card and personal loans, as well as temporary modifications on private student loans and certain grants of private student loan forbearance are generally subject to disclosure as loan modifications to borrowers experiencing financial difficulty. Loan receivables that have been modified are subject to the same requirements for the accrual of expected credit loss over their expected remaining lives as described above for unmodified loans. The effects of all loan modifications, whether or not they are subject to disclosure as loan modifications to borrowers experiencing financial difficulty, are reflected in the allowance for credit losses.
Premises and Equipment, net	Premises and Equipment, net Premises and equipment, net, are stated at cost less provisions for impairment and accumulated depreciation and amortization. Accumulated depreciation and amortization is computed using the straight-line method over the estimated useful lives of the assets. The Company periodically reviews the estimated useful lives and may adjust them as necessary. Buildings are depreciated over a period of thirty-nine years. The costs of improvements are capitalized and depreciated either over the asset’s estimated useful life, typically ten years to fifteen years, or over the remaining term of the lease, when applicable. Furniture and fixtures are depreciated over a period of five years to ten years. Equipment is depreciated over three years to ten years. Maintenance and repairs are immediately expensed when incurred, while the costs of significant improvements are capitalized. Purchased software and capitalized costs related to internally developed software are amortized over their useful lives of three years to ten years. Costs incurred during the application development stage related to internally developed software are capitalized. Costs are expensed as incurred during the preliminary project stage and post implementation stage. Once the capitalization criteria as defined in GAAP have been met, external direct costs incurred for materials and services used in developing or obtaining internal-use computer software and payroll and payroll-related costs for employees who are directly associated with the internal-use computer software project (to the extent those employees devoted time directly to the project) are capitalized. Amortization of capitalized costs begins when the software is ready for its intended use. Capitalized software is included in premises and equipment, net in the Company’s consolidated statements of financial condition. See Note 6: Premises and Equipment for further information about the Company’s premises and equipment. Cloud computing arrangements involving the licensing of software that meet certain criteria are recognized as the acquisition of software. Such assets are measured at the present value of the license obligation, if the license is to be paid over time, in addition to any capitalized upfront costs and amortized over the life of the arrangement. Cloud computing arrangements that do not meet the criteria to be recognized as acquired software are accounted for as service contracts. To date, none of the Company’s cloud computing arrangements have met the criteria to be recognized as acquired software. Premises and equipment are subject to impairment testing when events or conditions indicate that the carrying value of the asset may not be fully recoverable from future cash flows. A test for recoverability is done by comparing the asset’s carrying value to the sum of the undiscounted future net cash inflows expected to be generated from the use of the asset over its remaining useful life. Impairment exists if the sum of the undiscounted expected future net cash inflows is less than the carrying amount of the asset. Impairment would result in a write-down of the asset to its estimated fair value. The estimated fair values of these assets are based on the discounted present value of the stream of future net cash inflows expected to be derived over the remaining useful lives of the assets. If an impairment write-down is recorded, the remaining useful life of the asset will be evaluated to determine whether revision of the remaining amortization or depreciation period is appropriate.
Goodwill	Goodwill Goodwill is recorded as part of the Company’s acquisitions of businesses when the purchase price exceeds the fair value of the net tangible and separately identifiable intangible assets acquired. The Company’s goodwill is not amortized, but rather is subject to an impairment test at the reporting unit level annually as of October 1, or between annual tests if an event occurs or circumstances change that would more likely than not reduce the fair value of a reporting unit below its carrying amount. The Company’s reported goodwill relates to PULSE, which it acquired in 2005. The Company’s goodwill is tested for impairment by comparing the fair value of the reporting unit to its carrying value. If the fair value of the reporting unit exceeds its carrying value, goodwill is not impaired. If the carrying value exceeds its fair value, an impairment loss must be recognized in an amount equal to that excess, limited to the total amount of goodwill allocated to that reporting unit. No impairment was identified during the impairment test conducted as of October 1, 2023.
Stock-based Compensation	Stock-based Compensation The Company measures the cost of services received from employees and non-employee directors in exchange for an award of stock-based compensation based on the grant-date fair value of the award. The cost, net of estimated forfeitures, is recognized over the requisite service period. Awards to employees who are retirement-eligible at any point during the year are amortized over 12 months in accordance with the vesting terms that apply under those circumstances. No compensation cost is recognized for awards that are subsequently forfeited.
Advertising Costs	Advertising Costs The Company expenses television and radio advertising costs in the period in which the advertising is first aired and all other advertising costs as incurred. Advertising costs are recorded in marketing and business development and were $359 million, $307 million and $262 million for the years ended December 31, 2023, 2022 and 2021, respectively.
Income Taxes	Income Taxes Income tax expense is provided for using the asset and liability method, under which deferred tax assets and liabilities are determined based on the temporary differences between the financial reporting and income tax bases of assets and liabilities using currently enacted tax rates. Deferred tax assets are recognized when their realization is determined to be more likely than not. A valuation allowance is provided if the Company believes it is more likely than not that all or some portion of the deferred tax asset will not be realized. An increase or decrease in the valuation allowance that results from a change in circumstances and which causes a change in management’s judgment about the realizability of the related deferred tax asset is included in the current tax provision. Uncertain tax positions are measured at the highest amount of tax benefit for which realization is judged to be more likely than not. Tax benefits that do not meet these criteria are unrecognized tax benefits. The Company recognizes and reports interest and penalties, if necessary, related to uncertain tax positions within its provision for income tax expense. See Note 15: Income Taxes for more information about the Company’s income taxes.
Accumulated Other Comprehensive Income	Accumulated Other Comprehensive Income The Company records unrealized gains and losses on available-for-sale securities, changes in the fair value of cash flow hedges and certain pension and foreign currency translation adjustments in other comprehensive income (“OCI”) on an after-tax basis where applicable. The Company’s policy is to adjust the tax effects of a component of AOCI in the same period in which the item is sold or otherwise derecognized, or when the carrying value of the item is remeasured. Details of OCI, net of tax, are presented in the statement of comprehensive income and a roll forward of AOCI is presented in the consolidated statements of changes in stockholders’ equity and Note 13: Accumulated Other Comprehensive Income.
Significant Revenue Recognition Accounting Policies, Loan Interest and Fee Income	Significant Revenue Recognition Accounting Policies Loan Interest and Fee Income Interest on loans is composed largely of interest on credit card loans and is recognized based on the amount of loans outstanding and their contractual interest rate. Interest on credit card loans is included in loan receivables when billed to the customer. The Company accrues unbilled interest revenue each month from a customer’s billing cycle date to the end of the month. The Company applies an estimate of the percentage of loans that will revolve in the next cycle in the estimation of the accrued unbilled portion of interest revenue that is included in other assets on the consolidated statements of financial condition. Interest on other loan receivables is accrued each month in accordance with their contractual terms and recorded in other assets in the consolidated statements of financial condition. The Company recognizes fees (except balance transfer fees and certain product fees) on loan receivables in interest income or loan fee income as the fees are assessed. Balance transfer fees and certain product fees are recognized in interest income or loan fee income ratably over the periods to which they relate. Balance transfer fees are accreted to interest income over the estimated life of the related balance. As of December 31, 2023 and 2022, deferred revenues related to balance transfer fees, recorded as a reduction of loan receivables, were $107 million and $85 million, respectively. Loan fee income consists of fees on credit card loans and includes late, cash advance, returned check and other miscellaneous fees and is reflected net of waivers and charge-offs. Direct loan origination costs on credit card loans are deferred and amortized on a straight-line basis over a one year period and recorded in interest income from credit card loans. Direct loan origination costs on other loan receivables are deferred and amortized over the life of the loan using the interest method and are recorded in interest income from other loans. As of December 31, 2023 and 2022, the remaining unamortized deferred costs related to loan origination were $306 million and $298 million, respectively, and were recorded in loan receivables. The Company accrues interest and fees on credit card and closed-end loan receivables until the loans are paid or charged off, except in instances of customer bankruptcy, death or suspected fraud, where no further interest and fee accruals occur following notification. Upon completion of the fraud investigation, non-fraudulent credit card and closed-end consumer loan receivables may resume accruing interest. Payments received on non-accrual loans are allocated according to the same payment hierarchy applied to loans that are accruing interest. When loan receivables are charged off, unpaid accrued interest and fees are reversed against the income line items in which they were originally recorded in the consolidated statements of income. Charge-offs and recoveries of amounts that relate to capitalized interest on private student loans are treated as principal charge-offs and recoveries, affecting the provision for credit losses rather than interest income. The Company considers uncollectible interest and fee revenues in assessing the adequacy of the allowance for credit losses. Interest income from loans disclosed as modifications to borrowers experiencing financial difficulty is accounted for in the same manner as other accruing loans. Cash collections on these loans are allocated according to the same payment hierarchy applied to loans that have not been modified.
Significant Revenue Recognition Accounting Policies, Other	Discount and Interchange Revenue The Company earns discount revenue from fees charged to merchants with whom it has entered into card acceptance agreements for processing credit card purchase transactions. The Company earns acquirer interchange revenue primarily from merchant acquirers on Discover Network, Diners Club and PULSE transactions made by credit and debit card customers at merchants with whom merchant acquirers have entered into card acceptance agreements for processing payment card transactions. These card acceptance arrangements generally renew automatically and do not have fixed durations. Under these agreements, the Company stands ready to process payment transactions as and when each is presented. The Company earns discount, interchange and similar fees only when transactions are processed. Contractually defined per-transaction fee amounts typically apply to each type of transaction processed and are recognized as revenue at the time each transaction is captured for settlement. These fees are typically collected by the Company as part of the process of settling transactions daily with merchants and acquirers and are fully earned at the time settlement is made. The Company pays issuer interchange to card-issuing entities that have entered into contractual arrangements to issue cards on the Discover Network and on certain transactions on the Diners Club and PULSE networks. This cost is contractually established and is based on the card-issuing organization’s transaction volume. The Company classifies this cost as a reduction of discount and interchange revenue. Costs of cardholder reward arrangements, including the Cashback Bonus reward program, are classified as reductions of discount and interchange revenue pursuant to guidance under Accounting Standards Codification (“ASC”) Topic 606 governing consideration payable to a customer. For both issuer interchange and transaction-based cardholder rewards, the Company accrues the cost at the time each underlying card transaction is captured for settlement. Customer Rewards The Company offers its customers various reward programs, including the Cashback Bonus reward program, pursuant to which the Company pays certain customers a reward equal to a percentage of their credit card purchase amounts based on the type and volume of the customer’s purchases. The liability for customer rewards is recorded on an individual customer basis and is accumulated as qualified customers earn rewards through their ongoing credit card purchase activity or other defined actions. The Company recognizes customer rewards costs as a reduction of the related revenue, if any. In instances where a reward is not associated with a revenue-generating transaction, such as when a reward is given for opening an account, the reward cost is recorded as an operating expense. For the years ended December 31, 2023, 2022 and 2021, rewards costs amounted to $3.1 billion, $3.0 billion and $2.5 billion, respectively. The liability for customer rewards was $2.2 billion at December 31, 2023 and 2022, and is included in accrued expenses and other liabilities on the consolidated statements of financial condition. Protection Products Revenue The Company earns revenue related to fees received for providing ancillary products and services, including payment protection and identity theft protection services, to its credit card customers. A portion of this revenue comprises amounts earned for arranging for the delivery of products offered by third-party service providers. The amount of revenue recorded is generally based on either a percentage of a customer’s outstanding balance or a flat fee, in either case assessed monthly and recognized as earned. These contracts are month-to-month arrangements that are cancellable at any time. The Company recognizes each monthly fee in the period to which the service or coverage relates. Transaction Processing Revenue Transaction processing revenue represents switch fees charged to financial institutions and merchants under network participation agreements for processing ATM and debit transactions over the PULSE network, as well as various participation and membership fees. Network participation agreements generally renew automatically and do not have fixed durations, although the Company does enter into fixed-term pricing or incentive arrangements with certain network participants. Similar to discount and interchange fees, switch fees are contractually defined per-transaction fee amounts and are assessed and recognized as revenue at the time each transaction is captured for settlement. These fees are typically collected by the Company as part of the process of settling transactions with network participants. Membership and other participation fees are recognized over the periods to which each fee relates. Other Income Other income includes gains and losses on equity investments, sales-based royalty revenues earned by Diners Club, merchant fees, revenues from network partners and other miscellaneous revenue items. Unrealized gains and losses on equity investments carried at fair value are recognized quarterly based on changes in their respective fair values. Sales-based royalty revenues are recognized as the related sales are reported by Diners franchisees. All remaining items of other income are recognized as the related performance obligations are satisfied. Future Revenue Associated with Customer Contracts For contracts under which the Company processes payment card transactions, the Company has the right to assess fees for services performed and to collect those fees through the settlement process. The Company generates essentially all of its discount and interchange revenue and transaction processing revenue, as well as some revenue reported as other income, through such contracts. There is no specified quantity of service promised in these contracts as the number of payment transactions is dependent upon cardholder behavior, which is outside the control of the Company and its network customers (i.e., merchants, acquirers, issuers and other network participants). As noted above, these contracts are typically without fixed durations and renew automatically. For these reasons, the Company does not make or disclose an estimate of revenue associated with performance obligations attributable to the remaining terms of these contracts. Future revenue associated with the Company’s sales-based royalty revenues earned from Diners Club licensees is similarly variable and open-ended and therefore the Company does not make or disclose an estimate of royalties associated with performance obligations attributable to the remaining terms of the licensing and royalty arrangements. Because of the nature of the services and the manner of collection associated with the majority of the Company’s revenue from contracts with customers, material receivables or deferred revenues are not generated. Incentive Payments The Company makes certain incentive payments under contractual arrangements with financial institutions, Diners Club licensees, merchants, acquirers and certain other customers. These payments are generally classified as contra-revenue unless a distinct good or service is received by the Company in exchange for the payment and the fair value of the good or service can be reasonably estimated. If no such good or service is identified, then the entire payment is classified as contra-revenue and included in the consolidated statements of income in the line item where the related revenues are recorded. If the payment gives rise to an asset because it is expected to directly or indirectly contribute to future net cash inflows, it is deferred and recognized over the expected benefit period. The unamortized portion of the deferred incentive payments included in other assets on the consolidated statements of financial condition was $27 million and $32 million at December 31, 2023 and 2022, respectively.

Investments (Tables)

Investments (Tables)	12 Months Ended
	Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]
Schedule of Investment Securities	The Company’s other short-term investments and investment securities consist of the following (dollars in millions): December 31, 2023 2022 U.S. Treasury (1) and U.S. GSE (2) securities $ 12,937 $ 11,423 Residential mortgage-backed securities - Agency (3) 718 785 Total investment securities $ 13,655 $ 12,208 (1) $320 million and $97 million of U.S. Treasury securities pledged as swap collateral as of December 31, 2023 and 2022, respectively. (2) Consists of securities issued by the Federal Home Loan Bank (“FHLB”). (3) Consists of securities issued by Fannie Mae, Freddie Mac, or Ginnie Mae.
Schedule of Amortized Cost, Gross Unrealized Gains, Gross Unrealized Losses and Fair Value	The amortized cost, gross unrealized gains and losses and fair value of available-for-sale and held-to-maturity investment securities are as follows (dollars in millions): Amortized Gross Gross Fair Value December 31, 2023 Available-for-Sale Investment Securities (1) U.S. Treasury and U.S. GSE securities $ 12,971 $ 52 $ (86) $ 12,937 Residential mortgage-backed securities - Agency 480 — (15) 465 Total available-for-sale investment securities $ 13,451 $ 52 $ (101) $ 13,402 Held-to-Maturity Investment Securities (2) Residential mortgage-backed securities - Agency (3) $ 253 $ — $ (19) $ 234 Total held-to-maturity investment securities $ 253 $ — $ (19) $ 234 December 31, 2022 Available-for-Sale Investment Securities (1) U.S. Treasury and U.S. GSE securities $ 11,580 $ 21 $ (178) $ 11,423 Residential mortgage-backed securities - Agency 587 — (23) 564 Total available-for-sale investment securities $ 12,167 $ 21 $ (201) $ 11,987 Held-to-Maturity Investment Securities (2) Residential mortgage-backed securities - Agency (3) $ 221 $ — $ (22) $ 199 Total held-to-maturity investment securities $ 221 $ — $ (22) $ 199 (1) Available-for-sale investment securities are reported at fair value. (2) Held-to-maturity investment securities are reported at amortized cost. (3) Amounts represent residential mortgage-backed securities (“RMBS”) that were classified as held-to-maturity as they were entered into as a part of the Company’s community reinvestment initiatives.
Debt Securities, Available-for-Sale, Unrealized Loss Position, Fair Value	The following table provides information about available-for-sale investment securities with aggregate gross unrealized losses and the length of time that individual investment securities have been in a continuous unrealized loss position (dollars in millions): Less than 12 months More than 12 months Number of Securities in a Loss Position Fair Value Unrealized Losses Fair Value Unrealized Losses December 31, 2023 Available-for-Sale Investment Securities U.S. Treasury and U.S. GSE securities 105 $ 3,513 $ (13) $ 3,978 $ (73) Residential mortgage-backed securities - Agency 31 $ — $ — $ 465 $ (15) December 31, 2022 Available-for-Sale Investment Securities U.S. Treasury and U.S. GSE securities 123 $ 9,060 $ (175) $ 106 $ (3) Residential mortgage-backed securities - Agency 34 $ 559 $ (22) $ 5 $ (1)
Schedule of Maturities and Weighted Average Yields of Available-for-Sale Debt Securities and Held-to-Maturity Debt Securities	Maturities and weighted-average yields of available-for-sale debt securities and held-to-maturity debt securities are provided in the following tables (dollars in millions): At December 31, 2023 One Year After One After Five After Ten Total Available-for-Sale Investment Securities — Amortized Cost U.S. Treasury and U.S. GSE securities $ 2,127 $ 10,634 $ 210 $ — $ 12,971 Residential mortgage-backed securities - Agency (1) — 73 26 381 480 Total available-for-sale investment securities $ 2,127 $ 10,707 $ 236 $ 381 $ 13,451 Held-to-Maturity Investment Securities — Amortized Cost Residential mortgage-backed securities - Agency (1) $ — $ — $ — $ 253 $ 253 Total held-to-maturity investment securities $ — $ — $ — $ 253 $ 253 Available-for-Sale Investment Securities — Fair Values U.S. Treasury and U.S. GSE securities $ 2,093 $ 10,628 $ 216 $ — $ 12,937 Residential mortgage-backed securities - Agency (1) — 70 25 370 465 Total available-for-sale investment securities $ 2,093 $ 10,698 $ 241 $ 370 $ 13,402 Held-to-Maturity Investment Securities — Fair Values Residential mortgage-backed securities - Agency (1) $ — $ — $ — $ 234 $ 234 Total held-to-maturity investment securities $ — $ — $ — $ 234 $ 234 Available-for-Sale Investment Securities — Weighted-Average Yields (2) U.S. Treasury and U.S. GSE securities 2.14 % 3.87 % 4.37 % — % 3.59 % Residential mortgage-backed securities - Agency (1) — % 2.09 % 3.35 % 3.53 % 3.30 % Total available-for-sale investment securities 2.14 % 3.86 % 4.26 % 3.53 % 3.58 % Held-to-Maturity Investment Securities — Weighted-Average Yields Residential mortgage-backed securities - Agency (1) — % — % — % 3.56 % 3.56 % Total held-to-maturity investment securities — % — % — % 3.56 % 3.56 % (1) Maturities of RMBS are reflective of the contractual maturities of the investment. (2) The weighted-average yield for available-for-sale investment securities is calculated based on the amortized cost.

Loan Receivables (Tables)

Loan Receivables (Tables)	12 Months Ended
	Dec. 31, 2023
Receivables [Abstract]
Schedule of Loan Receivables	The Company’s classes of receivables within the two portfolio segments are depicted in the following table (dollars in millions): December 31, 2023 2022 Credit card loans (1)(2) $ 102,259 $ 90,113 Other loans (3) Private student loans (4) 10,352 10,308 Personal loans 9,852 7,998 Other loans 5,946 3,701 Total other loans 26,150 22,007 Total loan receivables 128,409 112,120 Allowance for credit losses (9,283) (7,374) Net loan receivables $ 119,126 $ 104,746 (1) Amounts include carrying values of $14.8 billion and $13.5 billion underlying investors’ interest in trust debt at December 31, 2023 and 2022, respectively, and $15.6 billion and $12.2 billion in seller’s interest at December 31, 2023 and 2022, respectively. See Note 5: Credit Card and Private Student Loan Securitization Activities for additional information. (2) Unbilled accrued interest receivable on credit card loans, which is presented as part of other assets in the Company’s consolidated statements of financial condition, was $753 million and $611 million at December 31, 2023 and 2022, respectively. (3) Accrued interest receivable on private student, personal and other loans, which is presented as part of other assets in the Company’s consolidated statements of financial condition, was $522 million, $69 million and $21 million, respectively, at December 31, 2023 and $468 million, $49 million and $11 million, respectively, at December 31, 2022. (4) Private student loans in repayment were $6.3 billion and $6.0 billion at December 31, 2023 and 2022, respectively.
Schedule of Credit Risk Profile by FICO Score and Origination Year	The following table provides the distribution of the amortized cost basis (excluding accrued interest receivable presented in other assets) by the most recent FICO scores available for the Company's customers for credit card, private student and personal loan receivables (dollars in millions): Credit Risk Profile by FICO Score December 31, 2023 2022 660 and Above Less than 660 660 and Above Less than 660 $ % $ % $ % $ % Credit card loans $ 82,238 80 % $ 20,021 20 % $ 73,827 82 % $ 16,286 18 % Private student loans by origination year (1) 2023 $ 1,010 94 % $ 69 6 % 2022 1,495 95 % 85 5 % $ 1,172 94 % $ 77 6 % 2021 1,468 94 % 91 6 % 1,668 95 % 81 5 % 2020 1,180 94 % 75 6 % 1,365 95 % 65 5 % 2019 1,039 93 % 76 7 % 1,221 95 % 67 5 % Prior 3,498 93 % 266 7 % 4,306 94 % 286 6 % Total private student loans $ 9,690 94 % $ 662 6 % $ 9,732 94 % $ 576 6 % Personal loans by origination year 2023 $ 5,149 98 % $ 100 2 % 2022 2,604 93 % 187 7 % $ 4,270 98 % $ 77 2 % 2021 1,049 92 % 91 8 % 1,958 96 % 91 4 % 2020 355 92 % 29 8 % 790 95 % 40 5 % 2019 169 88 % 22 12 % 444 92 % 38 8 % Prior 78 80 % 19 20 % 249 86 % 41 14 % Total personal loans $ 9,404 95 % $ 448 5 % $ 7,711 96 % $ 287 4 % (1) FICO score represents the higher credit score of the cosigner or borrower.
Schedule of Delinquent Loans by Origination Year	The amortized cost basis (excluding accrued interest receivable presented in other assets) of delinquent loans in the Company’s loan portfolio is shown below for credit card, private student and personal loan receivables (dollars in millions): December 31, 2023 2022 30-89 Days 90 or Total Past 30-89 Days 90 or Total Past Credit card loans $ 2,038 $ 1,917 $ 3,955 $ 1,250 $ 1,028 $ 2,278 Private student loans by origination year (1) 2023 $ — $ — $ — 2022 7 2 9 $ — $ — $ — 2021 18 6 24 6 1 7 2020 20 7 27 14 3 17 2019 24 9 33 19 5 24 Prior 132 46 178 128 36 164 Total private student loans $ 201 $ 70 $ 271 $ 167 $ 45 $ 212 Personal loans by origination year 2023 $ 26 $ 8 $ 34 2022 44 16 60 $ 12 $ 3 $ 15 2021 20 8 28 15 6 21 2020 7 2 9 8 2 10 2019 5 2 7 6 2 8 Prior 2 3 5 6 3 9 Total personal loans $ 104 $ 39 $ 143 $ 47 $ 16 $ 63 (1) Private student loans may include a deferment period, during which borrowers are not required to make payments while enrolled in school at least half time as determined by the school. During a deferment period, these loans do not advance into delinquency.
Schedule of Changes in the Allowance for Credit Losses	The following tables provide changes in the Company’s allowance for credit losses (dollars in millions): For the Year Ended December 31, 2023 Credit Card Loans Private Student Personal Loans Other Loans Total Loans Balance at December 31, 2022 $ 5,883 $ 839 $ 595 $ 57 $ 7,374 Cumulative effect of ASU No. 2022-02 adoption (1) (66) — (2) — (68) Balance at January 1, 2023 5,817 839 593 57 7,306 Additions Provision for credit losses (2) 5,476 152 363 28 6,019 Deductions Charge-offs (4,481) (155) (290) (1) (4,927) Recoveries 807 22 56 — 885 Net charge-offs (3,674) (133) (234) (1) (4,042) Balance at December 31, 2023 $ 7,619 $ 858 $ 722 $ 84 $ 9,283 For the Year Ended December 31, 2022 Credit Card Loans Private Student Personal Loans Other Loans Total Loans Balance at December 31, 2021 $ 5,273 $ 843 $ 662 $ 44 $ 6,822 Additions Provision for credit losses (2) 2,233 99 24 13 2,369 Deductions Charge-offs (2,417) (126) (159) — (2,702) Recoveries 794 23 68 — 885 Net charge-offs (1,623) (103) (91) — (1,817) Balance at December 31, 2022 $ 5,883 $ 839 $ 595 $ 57 $ 7,374 For the Year Ended December 31, 2021 Credit Card Loans Private Student Personal Loans Other Loans Total Loans Balance at December 31, 2020 $ 6,491 $ 840 $ 857 $ 38 $ 8,226 Additions Provision for credit losses (2) 229 67 (75) 6 227 Deductions Charge-offs (2,255) (89) (190) — (2,534) Recoveries 808 25 70 — 903 Net charge-offs (1,447) (64) (120) — (1,631) Balance at December 31, 2021 $ 5,273 $ 843 $ 662 $ 44 $ 6,822 (1) Represents the adjustment to the allowance for credit losses as a result of the adoption of ASU No. 2020-02 on January 1, 2023, which eliminated the requirement to apply discounted cash flow measurements for certain troubled debt restructurings. (2) Excludes a $1 million, $10 million and $9 million adjustment to the liability for expected credit losses on unfunded commitments for the years ended December 31, 2023, 2022 and 2021, respectively, as the liability is recorded in accrued expenses and other liabilities in the Company’s consolidated statements of financial condition.
Schedule of Net Charge-offs of Interest and Fee Revenues on Loan Receivables	Net charge-offs of principal are recorded against the allowance for credit losses, as shown in the preceding table. Information regarding net charge-offs of interest and fee revenues on credit card and other loans is as follows (dollars in millions): For the Years Ended December 31, 2023 2022 2021 Interest and fees accrued subsequently charged off, net of recoveries (recorded as a reduction of interest income) $ 681 $ 303 $ 286 Fees accrued subsequently charged off, net of recoveries (recorded as a reduction to other income) $ 192 $ 100 $ 75
Schedule of Gross Charge Offs from Loan Receivables	Gross principal charge-offs of the Company's loan portfolio are presented in the table below, on a year-to-date basis, for credit card, private student and personal loan receivables (dollars in millions): For the Twelve Months Ended December 31, 2023 Credit card loans $ 4,481 Private student loans by origination year 2023 $ — 2022 4 2021 17 2020 21 2019 24 Prior 89 Total private student loans $ 155 Personal loans by origination year 2023 $ 19 2022 119 2021 81 2020 33 2019 24 Prior 14 Total personal loans $ 290
Schedule of Delinquent and Non-Accruing Loans	The amortized cost basis (excluding accrued interest receivable presented in other assets) of delinquent and non-accruing loans in the Company’s loan portfolio is shown below for each class of loan receivables (dollars in millions): (1) 30-89 Days 90 or Total Past 90 or Total Non-accruing (2) December 31, 2023 Credit card loans $ 2,038 $ 1,917 $ 3,955 $ 1,881 $ 197 Other loans Private student loans 201 70 271 69 8 Personal loans 104 39 143 37 11 Other loans 39 19 58 3 53 Total other loans 344 128 472 109 72 Total loan receivables $ 2,382 $ 2,045 $ 4,427 $ 1,990 $ 269 December 31, 2022 Credit card loans $ 1,250 $ 1,028 $ 2,278 $ 1,003 $ 176 Other loans Private student loans 167 45 212 45 8 Personal loans 47 16 63 16 7 Other loans 13 12 25 1 23 Total other loans 227 73 300 62 38 Total loan receivables $ 1,477 $ 1,101 $ 2,578 $ 1,065 $ 214 (1) The payment status of both modified and unmodified loans is included in this table. (2) The Company estimates that the gross interest income that would have been recorded under the original terms of non-accruing credit card loans was $37 million, $23 million and $28 million for the years ended December 31, 2023, 2022 and 2021, respectively. The Company does not separately track the amount of gross interest income that would have been recorded under the original terms of loans. Instead, the Company estimated this amount based on customers’ current balances and most recent interest rates.
Schedule of Loans in Modification Programs, Amortized Cost Basis	The following table provides the period-end amortized cost basis, by modification category, of loans to borrowers experiencing financial difficulty that entered a modification program during the period (dollars in millions). Some of the loans presented in the table below may no longer be enrolled in a program at period-end: For the Twelve Months Ended December 31, 2023 Credit card loans (1)(2) Interest rate reduction $ 2,330 Total credit card loans (3) $ 2,330 % of total class of financing receivables 2.28 % Private student loans (1) Payment delay (4) $ 33 Interest rate reduction and payment delay (4) 143 Total private student loans (3) $ 176 % of total class of financing receivables 1.70 % Personal loans (1) Payment delay (4) $ 10 Term extension (5) 29 Interest rate reduction and payment delay (4) 65 Interest rate reduction and term extension (5) 29 Total personal loans (3) $ 133 % of total class of financing receivables 1.35 % (1) Accrued interest receivable (including unbilled accrued interest receivable for credit card loans) on modified loans to borrowers experiencing financial difficulty, which is presented as part of other assets in the Company's condensed consolidated statements of financial condition, was immaterial at December 31, 2023. (2) Accounts that entered a credit card loan modification program include $408 million that were converted from revolving line-of-credit arrangements to term loans during the year ended December 31, 2023. (3) For settlements, the amortized cost basis is zero at period-end and therefore there is no amount reported for principal forgiveness in the table above. See financial effects table below for principal forgiveness to borrowers experiencing financial difficulty. (4) The Company defines a payment delay as a temporary reduction in payments below the original contractually required payment amounts (e.g., interest only payments). The Company's credit card loan modification programs do not result in an other than insignificant delay in payment.
Schedule of Loan Modifications Effects	The following table provides information on the financial effects of loan modifications to borrowers experiencing financial difficulty, by modification type, made during the period (dollars in millions): For the Twelve Months Ended December 31, 2023 Credit card loans Weighted-average interest rate reduction 13.85 % Principal forgiven $ 121 Interest and fees forgiven (1) $ 117 Private student loans Weighted-average interest rate reduction 8.91 % Payment delay duration (in months) (2) 6 to 12 Principal forgiven $ — Personal loans Weighted-average interest rate reduction 12.28 % Weighted-average term extension (in months) 39 Payment delay duration (in months) (2) 6 to 12 Principal forgiven $ — (1) Represents the amount of interest and fees forgiven resulting from accounts entering into a credit card loan modification program and pre-charge off settlements. Interest and fees forgiven are reversed against the respective line items in the consolidated statements of income. (2) During 2023, private student loan payment delays were offered up to six
Financing Receivable, Modified, Past Due	The following table presents the payment status and period-end amortized cost basis, by class of loan receivable, of loans that were modified on or after January 1, 2023 to borrowers experiencing financial difficulty (dollars in millions) : (1) Current 30-89 Days 90 or At December 31, 2023 Credit card loans $ 1,882 $ 252 $ 196 Private student loans 147 18 8 Personal loans 109 20 4 Total $ 2,138 $ 290 $ 208 (1) This table includes any loan that entered a modification program during the period without regard to whether it remained in a modification program as of the reporting date.
Financing Receivable, Modified, Subsequent Default	The following table presents the defaulted amount and period-end amortized cost basis, by modification category, of loans that defaulted during the period and were modified on or after January 1, 2023 through the end of the reporting period to borrowers experiencing financial difficulty (dollars in millions): For the Twelve Months Ended December 31, 2023 Defaulted Amount (1) Period-end Amortized Cost Basis Credit card loans Interest rate reduction $ 383 $ 210 Total credit card loans $ 383 $ 210 Private student loans Payment delay $ 5 $ 4 Interest rate reduction and payment delay 20 17 Total private student loans $ 25 $ 21 Personal loans Payment delay $ 2 $ 1 Term extension 4 2 Interest rate reduction and payment delay 10 2 Interest rate reduction and term extension 7 3 Total personal loans $ 23 $ 8 (1) For purposes of this disclosure, a loan is considered to be defaulted when it is 60 days or more delinquent at month end and has advanced two stages of delinquency subsequent to modification. Loans that entered a modification program in any stage of delinquency but did not experience a further payment default are included in the payment status table above but are not counted as defaulted for purposes of this disclosure.
Schedule of Loans That Entered a Modification Program During the Period	The following table provides information on loans that entered a TDR program during the period (dollars in millions): For the Year Ended December 31, 2022 Number of Accounts Balances Accounts that entered a TDR program during the period Credit card loans (1) 237,339 $ 1,545 Private student loans 6,841 $ 127 Personal loans 6,303 $ 86 (1) Accounts that entered a credit card TDR program include $322 million that were converted from revolving line-of-credit arrangements to term loans during the year ended December 31, 2022.
Schedule of Troubled Debt Restructurings That Subsequently Defaulted	The following table presents the carrying value of loans that experienced a default during the period that had been modified in a TDR during the 15 months preceding the end of each period (dollars in millions): For the Year Ended December 31, 2022 Number of Accounts Aggregated Outstanding Balances Upon Default TDRs that subsequently defaulted Credit card loans (1)(2) 28,231 $ 141 Private student loans (3) 1,145 $ 22 Personal loans (2) 1,140 $ 20 (1) For credit card loans that default from a temporary loan modification program, accounts revert back to the pre-modification terms and charging privileges remain suspended in most cases. (2) For credit card loans and personal loans, a customer defaults from a loan modification program after either two consecutive missed payments or at charge-off, depending on the program. The outstanding balance upon default is generally the loan balance at the end of the month prior to default. (3) For student loans, a customer defaults from a loan modification after they are 60 or more days delinquent. The outstanding balance upon default is generally the loan balance at the end of the month prior to default.
Schedule of Geographic Distribution of Loan Receivables	The Company originated credit card loans throughout the U.S. The geographic distribution of the Company’s credit card loan receivables was as follows (dollars in millions): December 31, 2023 2022 $ % $ % Texas $ 9,150 8.9 % $ 7,996 8.9 % California 9,078 8.9 7,888 8.7 Florida 7,496 7.3 6,465 7.2 New York 6,538 6.4 5,895 6.5 Illinois 5,012 4.9 4,528 5.0 Pennsylvania 4,985 4.9 4,484 5.0 Ohio 4,188 4.1 3,759 4.2 New Jersey 3,499 3.4 3,127 3.5 Georgia 3,294 3.2 2,849 3.2 Michigan 2,821 2.8 2,521 2.8 Other 46,198 45.2 40,601 45.0 Total credit card loans $ 102,259 100.0 % $ 90,113 100.0 % The Company originated private student, personal and other loans throughout the U.S. The geographic distribution of private student, personal and other loan receivables was as follows (dollars in millions): December 31, 2023 2022 $ % $ % California $ 2,449 9.4 % $ 2,015 9.2 % New York 2,074 7.9 1,900 8.6 Texas 1,987 7.6 1,595 7.2 Florida 1,607 6.1 1,248 5.7 Pennsylvania 1,567 6.0 1,431 6.5 Illinois 1,405 5.4 1,247 5.7 New Jersey 1,285 4.9 1,114 5.1 Ohio 975 3.7 849 3.9 Georgia 851 3.3 647 3.0 Virginia 778 3.0 654 2.8 Other 11,172 42.7 9,307 42.3 Total other loans $ 26,150 100.0 % $ 22,007 100.0 %

Credit Card and Private Stude_2

Credit Card and Private Student Loan Securitization Activities (Tables)	12 Months Ended
	Dec. 31, 2023
Variable Interest Entities Disclosure [Abstract]
Schedule of Restricted Credit Card Securitized Assets	The carrying values of these restricted assets, which are presented on the Company’s consolidated statements of financial condition as relating to securitization activities, are shown in the following table (dollars in millions): December 31, 2023 2022 Restricted cash $ 36 $ 33 Investors’ interests held by third-party investors 11,725 10,200 Investors’ interests held by wholly-owned subsidiaries of Discover Bank 3,117 3,341 Seller’s interest 15,598 12,220 Loan receivables (1) 30,440 25,761 Allowance for credit losses allocated to securitized loan receivables (1) (1,347) (1,152) Net loan receivables 29,093 24,609 Other assets 2 2 Carrying value of assets of consolidated variable interest entities $ 29,131 $ 24,644 (1) The Company maintains its allowance for credit losses at an amount equal to lifetime expected credit losses associated with all loan receivables, which includes all loan receivables in the trusts. Therefore, the credit risk associated with the transferred receivables is fully reflected on the Company’s statements of financial condition in accordance with GAAP.

Premises and Equipment (Tables)

Premises and Equipment (Tables)	12 Months Ended
	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Schedule of Premises and Equipment	A summary of premises and equipment, net is as follows (dollars in millions): December 31, 2023 2022 Land $ 37 $ 37 Buildings and improvements 605 587 Furniture, fixtures and equipment 1,155 1,111 Software 1,305 1,125 Premises and equipment 3,102 2,860 Less: accumulated depreciation (1,409) (1,339) Less: accumulated amortization of software (602) (518) Premises and equipment, net $ 1,091 $ 1,003

Deposits (Tables)

Deposits (Tables)	12 Months Ended
	Dec. 31, 2023
Deposits [Abstract]
Schedule of Uninsured Certificates of Deposits	The following table summarizes certificates of deposit in uninsured accounts and accounts that are in excess of the FDIC insurance limit by time remaining until maturity (dollars in millions): At December 31, 2023 Three months or less $ 146 Over three months through six months 73 Over six months through twelve months 368 Over twelve months 293 Total $ 880
Time Deposit Maturities	The following table summarizes certificates of deposit maturing over each of the next five years and thereafter (dollars in millions): At December 31, 2023 2024 $ 25,561 2025 8,153 2026 4,129 2027 4,347 2028 2,144 Thereafter 906 Total $ 45,240

Long-Term Borrowings (Tables)

Long-Term Borrowings (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of Long-Term Borrowings and Weighted Average Interest Rates	Long-term borrowings consist of borrowings having original maturities of one year or more. The following table provides a summary of the Company’s long-term borrowings and weighted-average interest rates on outstanding balances (dollars in millions): December 31, 2023 2022 Maturity Interest Weighted-Average Interest Rate Outstanding Amount Outstanding Amount Securitized Debt Fixed-rate asset-backed securities (1) 2024-2026 0.58% - 5.03% 3.17% $ 10,003 $ 8,401 Floating-rate asset-backed securities (2) 2024 6.08% 6.08% 925 1,774 Total Discover Card Master Trust I and Discover Card Execution Note Trust 10,928 10,175 Floating-rate asset-backed security (3)(4) 2031 9.50% 9.50% 65 84 Total private student loan securitization trust 65 84 Total long-term borrowings - owed to securitization investors 10,993 10,259 Discover Financial Services (Parent Company) Fixed-rate senior notes 2024-2032 3.75% - 6.70% 4.68% 3,336 3,333 Fixed-rate retail notes 2025-2031 3.25% - 4.40% 3.82% 140 154 Fixed to floating-rate senior notes (5) 2034 7.96% 7.96% 993 — Discover Bank Fixed-rate senior bank notes (1) 2024-2030 2.45% - 4.65% 3.53% 3,571 5,348 Fixed-rate subordinated bank notes 2028 5.97% 5.97% 500 489 Fixed-rate Federal Home Loan Bank advances 2030 4.77% - 4.82% 4.82% 523 — Floating-rate Federal Home Loan Bank advances (6) 2024 5.55% - 5.65% 5.65% 525 525 Total long-term borrowings $ 20,581 $ 20,108 (1) The Company uses interest rate swaps to hedge portions of these long-term borrowings against changes in fair value attributable to changes in the applicable benchmark interest rates. The use of these interest rate swaps impacts the carrying value of the debt. See Note 21: Derivatives and Hedging Activities. (2) DCENT floating-rate asset-backed securities include issuances with the following interest rate terms: 1-month Term SOFR + 0.11448% Tenor Spread Adjustment + 60 basis points as of December 31, 2023. (3) The private student loan securitization trust floating-rate asset-backed security includes an issuance with the following interest rate term: Prime rate + 100 basis points as of December 31, 2023. (4) Repayment of this debt is dependent upon the timing of principal and interest payments on the underlying private student loans. The date shown represents the final maturity date. (5) The fixed to floating-rate senior notes include a rate reset on November 2, 2033, to a floating rate based on compounded SOFR + 3.370%. (6) The floating-rate FHLB advances include interest rate terms based on SOFR plus a spread ranging from 16 to 26 basis points as of December 31, 2023.
Schedule of Long-Term Borrowings Maturities	The following table summarizes long-term borrowings maturing over each of the next five years and thereafter (dollars in millions): At December 31, 2023 2024 $ 4,251 2025 6,146 2026 4,912 2027 1,001 2028 1,439 Thereafter 2,832 Total $ 20,581

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	12 Months Ended
	Dec. 31, 2023
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Schedule of Stock-Based Compensation Plans Compensation Cost, Net of Forfeitures	The following table details the compensation cost, net of forfeitures (dollars in millions): For the Years Ended December 31, 2023 2022 2021 RSUs $ 69 $ 58 $ 46 PSUs (1) 5 31 57 Total stock-based compensation expense $ 74 $ 89 $ 103 Income tax benefit $ 18 $ 16 $ 15 (1) Total PSU expense for the year ended December 31, 2021, includes an incremental $1 million, representing a modification to the 2019 PSU award. The nature of the modification was to adjust the payout to compensate for the 2020 current expected credit loss (“CECL”) adoption impact on earnings per share (“EPS”).
Schedule of Restricted Stock Unit Activity	The following table sets forth the activity related to vested and unvested RSUs: Number of Units Weighted-Average Remaining Contractual Term (in years) Aggregate RSUs at December 31, 2022 1,938,283 $ 190 Granted 728,993 Conversions to common stock (626,780) Forfeited (96,379) RSUs at December 31, 2023 1,944,117 0.85 $ 219 Vested and convertible RSUs at December 31, 2023 664,962 0.00 $ 75 The following table sets forth the activity related to unvested RSUs: Number of Units Weighted-Average Grant-Date Fair Value Unvested RSUs at December 31, 2022 1) 1,059,683 $ 107.47 Granted 728,993 $ 104.20 Vested (534,603) $ 103.95 Forfeited (96,379) $ 109.43 Unvested RSUs at December 31, 2023 (1) 1,157,694 $ 106.87 (1) Unvested RSUs represent awards where recipients have yet to satisfy either explicit vesting terms or retirement-eligibility requirements.
Schedule of Intrinsic Value of RSUs Converted to Common Stock and Grant Date Fair Value of RSUs Vested	The following table summarizes the total intrinsic value of the RSUs converted to common stock and the total grant-date fair value of RSUs vested (dollars in millions, except weighted-average grant-date fair value amounts): For the Years Ended December 31, 2023 2022 2021 Intrinsic value of RSUs converted to common stock $ 68 $ 59 $ 62 Grant-date fair value of RSUs vested $ 56 $ 41 $ 47 Weighted-average grant-date fair value of RSUs granted $ 104.20 $ 116.50 $ 101.47
Schedule of Peformance Stock Unit Activity	The following table sets forth the activity related to vested and unvested PSUs: Number of Units Weighted-Average Grant-Date Fair Value Weighted-Average Remaining Contractual Term (in years) Aggregate Intrinsic Value (in millions) PSUs at December 31, 2022 (1) 716,472 $ 99.21 $ 70 Granted 384,085 $ 110.70 Conversions to common stock (406,543) $ 85.34 Forfeited (113,337) $ 109.55 PSUs at December 31, 2023 (1)(2)(3)(4) 580,677 $ 108.56 0.98 $ 65 (1) All PSUs outstanding at December 31, 2023 and December 31, 2022, are unvested PSUs. (2) Includes 227,082 PSUs granted in 2021 that are earned based on the Company’s cumulative EPS as measured over the three-year performance period, which ended December 31, 2023, and are subject to the requisite service period, which ended February 1, 2024. (3) Includes 187,128 PSUs granted in 2022 that are earned based on the Company’s cumulative EPS as measured over the three-year performance period, which ends December 31, 2024, and are subject to the requisite service period, which ends February 1, 2025. (4) Includes 166,467 PSUs granted in 2023 that may be earned based on the Company’s cumulative EPS as measured over the three-year performance period, which ends December 31, 2025, and are subject to the requisite service period, which ends February 1, 2026.
Schedule of Intrinsic Value of PSUs Converted to Common Stock and Grant Date Fair Value of PSUs Vested	The following table summarizes the total intrinsic value of the PSUs converted to common stock and the total grant-date fair value of PSUs vested (dollars in millions, except weighted-average grant-date fair value amounts): For the Years Ended December 31, 2023 2022 2021 Intrinsic value of PSUs converted to common stock $ 47 $ 29 $ 15 Grant-date fair value of PSUs vested $ 35 $ 17 $ 18 Weighted-average grant-date fair value of PSUs granted $ 110.70 $ 124.01 $ 94.21

Common and Preferred Stock (Tab

Common and Preferred Stock (Tables)	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Schedule of Stock by Class	The table below presents a summary of the Company's non-cumulative perpetual preferred stock that is outstanding at December 31, 2023 (dollars in millions, except per depositary share amounts): Series Description Initial Issuance Date Liquidation Preference and Redemption Price per Depositary Share (1) Per Annum Dividend Rate in effect at December 31, 2023 Total Depositary Shares Authorized, Issued and Outstanding Carrying Value December 31, 2023 December 31, 2022 December 31, 2023 December 31, 2022 C (2)(3)(4) Fixed-to-Floating Rate 10/31/2017 $ 1,000 5.500 % 570,000 570,000 $ 563 $ 563 D (2)(5)(6) Fixed-Rate Reset 6/22/2020 $ 1,000 6.125 % 500,000 500,000 493 493 Total Preferred Stock 1,070,000 1,070,000 $ 1,056 $ 1,056 (1) Redeemable at the redemption price plus declared and unpaid dividends. (2) Issued as depositary shares, each representing 1/100 th interest in a share of the corresponding series of preferred stock. Each preferred share has a par value of $0.01. (3) Redeemable at the Company’s option, subject to regulatory approval, either (i) in whole or in part on any dividend payment date on or after October 30, 2027, or (ii) in whole but not in part, at any time within 90 days following a regulatory capital treatment event (as defined in the certificate of designations for the Series C preferred stock). (4) Any dividends declared are payable semi-annually in arrears at a rate of 5.50% per annum until October 30, 2027. Thereafter, dividends declared will be payable quarterly in arrears at a floating rate equal to 3-month Term SOFR plus a spread of 3.338% per annum. (5) Redeemable at the Company’s option, subject to regulatory approval, either (i) in whole or in part during the three-month period prior to, and including, each reset date (as defined in the certificate of designations for the Series D preferred stock) or (ii) in whole but not in part, at any time within 90 days following a regulatory capital treatment event (as defined in the certificate of designations for the Series D Preferred Stock). (6) Any dividends declared are payable semi-annually in arrears at a rate of 6.125% per annum until September 23, 2025, after which the dividend rate will reset every 5 years to a fixed annual rate equal to the 5-year Treasury plus a spread of 5.783%.

Accumulated Other Comprehensi_2

Accumulated Other Comprehensive Income (Tables)	12 Months Ended
	Dec. 31, 2023
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Schedule of Changes in Accumulated Other Comprehensive Income (Loss)	Changes in each component of AOCI were as follows (dollars in millions): Unrealized (Losses) Gains on Available-for-Sale Investment Securities, Net of Tax Losses on Cash Flow Hedges, Net of Tax Losses on Pension Plan, Net of Tax AOCI For the Year Ended December 31, 2023 Balance at December 31, 2022 $ (136) $ (14) $ (189) $ (339) Net change 99 6 9 114 Balance at December 31, 2023 $ (37) $ (8) $ (180) $ (225) For the Year Ended December 31, 2022 Balance at December 31, 2021 $ 114 $ (9) $ (199) $ (94) Net change (250) (5) 10 (245) Balance at December 31, 2022 $ (136) $ (14) $ (189) $ (339) For the Year Ended December 31, 2021 Balance at December 31, 2020 $ 284 $ (12) $ (227) $ 45 Net change (170) 3 28 (139) Balance at December 31, 2021 $ 114 $ (9) $ (199) $ (94)
Schedule of Other Comprehensive Income Before Reclassifications and Amounts Reclassified from AOCI	The following table presents each component of OCI before reclassifications and amounts reclassified from AOCI for each component of OCI before- and after-tax (dollars in millions): Before Tax Tax (Expense) Benefit Net of Tax For the Year Ended December 31, 2023 Available-for-Sale Investment Securities Net unrealized holding gains arising during the period $ 131 $ (32) $ 99 Net change $ 131 $ (32) $ 99 Cash Flow Hedges Net unrealized losses arising during the period $ (74) $ 18 $ (56) Amounts reclassified from AOCI 82 (20) 62 Net change $ 8 $ (2) $ 6 Pension Plan Unrealized gains arising during the period $ 12 $ (3) $ 9 Net change $ 12 $ (3) $ 9 For the Year Ended December 31, 2022 Available-for-Sale Investment Securities Net unrealized holding losses arising during the period $ (331) $ 81 $ (250) Net change $ (331) $ 81 $ (250) Cash Flow Hedges Net unrealized losses arising during the period $ (13) $ 3 $ (10) Amounts reclassified from AOCI 4 1 5 Net change $ (9) $ 4 $ (5) Pension Plan Unrealized gains arising during the period $ 13 $ (3) $ 10 Net change $ 13 $ (3) $ 10 For the Year Ended December 31, 2021 Available-for-Sale Investment Securities Net unrealized holding losses arising during the period $ (226) $ 56 $ (170) Net change $ (226) $ 56 $ (170) Cash Flow Hedges Net unrealized losses arising during the period $ (1) $ 1 $ — Amounts reclassified from AOCI 3 — 3 Net change $ 2 $ 1 $ 3 Pension Plan Unrealized gains arising during the period $ 37 $ (9) $ 28 Net change $ 37 $ (9) $ 28

Other Expense (Tables)

Other Expense (Tables)	12 Months Ended
	Dec. 31, 2023
Other Income and Expenses [Abstract]
Schedule of Other Expense	Total other expense includes the following components (dollars in millions): For the Years Ended December 31, 2023 2022 2021 Fraud losses and other charges $ 131 $ 149 $ 92 Postage 115 97 91 Credit-related inquiry fees 40 31 24 Supplies 38 35 46 Impairment charges — — 95 Other expense 356 228 272 Total other expense $ 680 $ 540 $ 620

Income Taxes (Tables)

Income Taxes (Tables)	12 Months Ended
	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Schedule of Income Tax Expense	Income tax expense consisted of the following (dollars in millions): For the Years Ended December 31, 2023 2022 2021 Current U.S. federal $ 1,254 $ 1,465 $ 1,084 U.S. state and local 258 312 204 Total 1,512 1,777 1,288 Deferred U.S. federal (556) (381) 280 U.S. state and local (70) (52) 38 Total (626) (433) 318 Income tax expense $ 886 $ 1,344 $ 1,606
Schedule of Reconciliation the Effective Tax Rate to the U.S. Federal Statutory Income Tax Rate	The following table reconciles the Company’s effective tax rate to the U.S. federal statutory income tax rate: For the Years Ended December 31, 2023 2022 2021 U.S. federal statutory income tax rate 21.0 % 21.0 % 21.0 % U.S. state, local and other income taxes, net of U.S. federal income tax benefits 3.5 3.4 3.2 Tax credits (2.0) (1.3) (1.2) Other 0.6 0.4 (0.1) Effective income tax rate 23.1 % 23.5 % 22.9 %
Schedule of Deferred Tax Assets and Liabilities	Significant components of the Company’s net deferred income taxes, which are included in other assets in the Company’s consolidated statements of financial condition, were as follows (dollars in millions): December 31, 2023 2022 Deferred tax assets Allowance for credit losses $ 2,245 $ 1,791 Customer fees and rewards 236 166 Depreciation and software amortization 60 — Other 203 270 Total deferred tax assets before valuation allowance 2,744 2,227 Valuation allowance (1) (1) Total deferred tax assets, net of valuation allowance 2,743 2,226 Deferred tax liabilities Depreciation and software amortization — (71) Deferred loan origination costs (40) (48) Other (47) (26) Total deferred tax liabilities (87) (145) Net deferred tax assets $ 2,656 $ 2,081
Schedule of Reconciliation of Beginning and Ending Unrecognized Tax Benefits	A reconciliation of beginning and ending unrecognized tax benefits is as follows (dollars in millions): For the Years Ended December 31, 2023 2022 2021 Balance at beginning of period $ 19 $ 39 $ 56 Additions Current year tax positions 4 4 13 Prior year tax positions — 1 8 Reductions Prior year tax positions (1) (20) (14) Settlements with taxing authorities (1) — (14) Expired statute of limitations (3) (5) (10) Balance at end of period (1) $ 18 $ 19 $ 39 (1) For the years ended December 31, 2023, 2022 and 2021, amounts included $18 million, $18 million and $37 million, respectively, of unrecognized tax benefits, which, if recognized, would favorably affect the effective tax rate.

Earnings Per Share (Tables)

Earnings Per Share (Tables)	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Schedule of Basic and Diluted EPS	The following table presents the calculation of basic and diluted EPS (dollars and shares in millions, except per share amounts): For the Years Ended December 31, 2023 2022 2021 Numerator Net income $ 2,940 $ 4,374 $ 5,422 Preferred stock dividends (62) (62) (69) Net income available to common stockholders 2,878 4,312 5,353 Income allocated to participating securities (19) (26) (30) Net income allocated to common stockholders $ 2,859 $ 4,286 $ 5,323 Denominator Weighted-average shares of common stock outstanding 254 277 300 Effect of dilutive common stock equivalents — 1 — Weighted-average shares of common stock outstanding and common stock equivalents 254 278 300 Basic earnings per common share $ 11.27 $ 15.45 $ 17.75 Diluted earnings per common share $ 11.26 $ 15.44 $ 17.74

Capital Adequacy (Tables)

Capital Adequacy (Tables)	12 Months Ended
	Dec. 31, 2023
Broker-Dealer, Net Capital Requirement, SEC Regulation [Abstract]
Schedule of Minimum and Well-Capitalized Requirements	The following table shows the actual capital amounts and ratios of DFS and Discover Bank and comparisons of each to the regulatory minimum and “well-capitalized” requirements (dollars in millions): Actual Minimum Capital Capital Requirements Amount Ratio (1) Amount Ratio Amount (2) Ratio (2) December 31, 2023 Total capital (to risk-weighted assets) Discover Financial Services $ 17,986 13.7 % $ 10,471 ≥8.0% $ 13,088 ≥10.0% Discover Bank $ 16,856 13.0 % $ 10,352 ≥8.0% $ 12,939 ≥10.0% Tier 1 capital (to risk-weighted assets) Discover Financial Services $ 15,872 12.1 % $ 7,853 ≥6.0% $ 7,853 ≥6.0% Discover Bank $ 13,910 10.8 % $ 7,764 ≥6.0% $ 10,352 ≥8.0% Tier 1 capital (to average assets) Discover Financial Services $ 15,872 10.7 % $ 5,915 ≥4.0% N/A N/A Discover Bank $ 13,910 9.5 % $ 5,833 ≥4.0% $ 7,292 ≥5.0% Common Equity Tier 1 (to risk-weighted assets) Discover Financial Services $ 14,816 11.3 % $ 5,890 ≥4.5% N/A N/A Discover Bank $ 13,910 10.8 % $ 5,823 ≥4.5% $ 8,411 ≥6.5% December 31, 2022 Total capital (to risk-weighted assets) Discover Financial Services (3) $ 18,004 15.8 % $ 9,139 ≥8.0% $ 11,424 ≥10.0% Discover Bank (3) $ 16,344 14.5 % $ 9,024 ≥8.0% $ 11,280 ≥10.0% Tier 1 capital (to risk-weighted assets) Discover Financial Services (3) $ 16,039 14.0 % $ 6,854 ≥6.0% $ 6,854 ≥6.0% Discover Bank (3) $ 13,446 11.9 % $ 6,768 ≥6.0% $ 9,024 ≥8.0% Tier 1 capital (to average assets) Discover Financial Services (3) $ 16,039 12.5 % $ 5,147 ≥4.0% N/A N/A Discover Bank (3) $ 13,446 10.6 % $ 5,086 ≥4.0% $ 6,357 ≥5.0% Common Equity Tier 1 (to risk-weighted assets) Discover Financial Services (3) $ 14,983 13.1 % $ 5,141 ≥4.5% N/A N/A Discover Bank (3) $ 13,446 11.9 % $ 5,076 ≥4.5% $ 7,332 ≥6.5% (1) Capital ratios are calculated based on the Basel III standardized approach rules, subject to applicable transition provisions, including CECL transition provisions. (2) The Basel III rules do not establish well-capitalized thresholds for these measures for bank holding companies. Existing well-capitalized thresholds established in the Federal Reserve’s Regulation Y have been included where available. (3) Capital amounts and ratios have been updated to reflect the impact of the restatement described in Note 26: Immaterial Restatement of Prior Period Financial Statements. Discover Bank capital amounts and ratios presented as of December 31, 2022 have been updated from amounts previously disclosed in the Company’s Form 10-Q for the period ended September 30, 2023, due to certain intercompany allocations recorded in the fourth quarter.

Commitments, Contingencies an_2

Commitments, Contingencies and Guarantees (Tables)	12 Months Ended
	Dec. 31, 2023
Merchant Chargeback Guarantees [Member]
Guarantor Obligations [Line Items]
Schedule of Maximum Potential Counterparty Exposures Related to Settlement Guarantees and Merchant Chargeback Guarantee	The following table summarizes certain information regarding merchant chargeback guarantees (dollars in millions): For the Years Ended December 31, 2023 2022 2021 Aggregate sales transaction volume (1) $ 257,611 $ 256,237 $ 223,360 (1) Represents transactions processed on the Discover Network for which a potential liability exists that, in aggregate, can differ from credit card sales volume.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis	Assets and liabilities measured at fair value on a recurring basis are as follows (dollars in millions): Quoted Price in Active Markets Significant Other Observable Inputs Significant Unobservable Inputs Total Balance at December 31, 2023 Assets Fair value - OCI U.S. Treasury and U.S. GSE securities $ 12,928 $ 9 $ — $ 12,937 Residential mortgage-backed securities - Agency — 465 — 465 Available-for-sale investment securities $ 12,928 $ 474 $ — $ 13,402 Derivative financial instruments - cash flow hedges (1) $ — $ 2 $ — $ 2 Fair value - Net income Marketable equity securities $ 1 $ — $ — $ 1 Derivative financial instruments - fair value hedges (1) $ — $ 2 $ — $ 2 Balance at December 31, 2022 Assets Fair value - OCI U.S. Treasury and U.S. GSE securities $ 11,416 $ 7 $ — $ 11,423 Residential mortgage-backed securities - Agency — 564 — 564 Available-for-sale investment securities $ 11,416 $ 571 $ — $ 11,987 Derivative financial instruments - cash flow hedges (1) $ — $ 1 $ — $ 1 Fair value - Net income Marketable equity securities $ 41 $ — $ — $ 41 Liabilities Fair value - OCI Derivative financial instruments - cash flow hedges (1) $ — $ 3 $ — $ 3 Fair value - Net income Derivative financial instruments - fair value hedges (1) $ — $ 2 $ — $ 2 (1) Derivative instrument carrying values in an asset or liability position are presented as part of other assets or accrued expenses and other liabilities, respectively, in the Company’s consolidated statements of financial condition.
Schedule of Financial Instruments Measured at Other Than Fair Value	The following tables disclose the estimated fair value of the Company’s financial assets and financial liabilities that are not required to be carried at fair value (dollars in millions): Balance at December 31, 2023 Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Total Carrying Value Assets Amortized cost Residential mortgage-backed securities - Agency $ — $ 234 $ — $ 234 $ 253 Held-to-maturity investment securities $ — $ 234 $ — $ 234 $ 253 Net loan receivables $ — $ — $ 126,940 $ 126,940 $ 119,126 Carrying value approximates fair value (1) Cash and cash equivalents $ 11,685 $ — $ — $ 11,685 $ 11,685 Restricted cash $ 43 $ — $ — $ 43 $ 43 Accrued interest receivables (2) $ — $ 1,450 $ — $ 1,450 $ 1,450 Liabilities Amortized cost Time deposits (3) $ — $ 45,333 $ — $ 45,333 $ 45,240 Short-term borrowings $ — $ 750 $ — $ 750 $ 750 Long-term borrowings - owed to securitization investors $ — $ 10,770 $ 65 $ 10,835 $ 10,993 Other long-term borrowings — 9,469 — 9,469 9,588 Long-term borrowings $ — $ 20,239 $ 65 $ 20,304 $ 20,581 Carrying value approximates fair value (1) Accrued interest payables (2) $ — $ 421 $ — $ 421 $ 421 Balance at December 31, 2022 Assets Amortized cost Residential mortgage-backed securities - Agency $ — $ 199 $ — $ 199 $ 221 Held-to-maturity investment securities $ — $ 199 $ — $ 199 $ 221 Net loan receivables $ — $ — $ 110,796 $ 110,796 $ 104,746 Carrying value approximates fair value (1) Cash and cash equivalents $ 8,856 $ — $ — $ 8,856 $ 8,856 Restricted cash $ 41 $ — $ — $ 41 $ 41 Accrued interest receivables (2) $ — $ 1,211 $ — $ 1,211 $ 1,211 Liabilities Amortized cost Time deposits (3) $ — $ 32,710 $ — $ 32,710 $ 33,070 Long-term borrowings - owed to securitization investors $ — $ 9,862 $ 84 $ 9,946 $ 10,259 Other long-term borrowings — 9,468 — 9,468 9,849 Long-term borrowings $ — $ 19,330 $ 84 $ 19,414 $ 20,108 Carrying value approximates fair value (1) Accrued interest payables (2) $ — $ 308 $ — $ 308 $ 308 (1) The carrying values of these assets and liabilities approximate fair value due to their short-term nature. (2) Accrued interest receivable and payable carrying values are presented as part of other assets and accrued expenses and other liabilities, respectively, in the Company’s consolidated statements of financial condition. (3) Excludes deposits without contractually defined maturities for all periods presented.

Derivatives and Hedging Activ_2

Derivatives and Hedging Activities (Tables)	12 Months Ended
	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Value and Outstanding Notional Amounts of Derivative Instruments and Related Collateral Balances	The following table summarizes the fair value (including accrued interest) and outstanding notional amounts of derivative instruments and related collateral balances (dollars in millions): December 31, 2023 2022 Notional Number of Derivative Assets Derivative Liabilities Notional Derivative Assets Derivative Liabilities Derivatives designated as hedges Interest rate swaps — cash flow hedge $ 10,650 17 $ 2 $ — $ 5,000 $ 1 $ 3 Interest rate swaps — fair value hedge $ 8,650 10 2 — $ 4,425 — 2 Derivatives not designated as hedges Foreign exchange forward contracts (1) $ 29 7 — — $ 25 — — Total gross derivative assets/liabilities (2) 4 — 1 5 Less: collateral held/posted (3) — — — (5) Total net derivative assets/liabilities $ 4 $ — $ 1 $ — (1) The foreign exchange forward contracts have notional amounts of EUR 6 million, GBP 6 million, SGD 1 million, INR 1.1 billion and AUD 2 million as of December 31, 2023, and notional amounts of EUR 6 million, GBP 6 million, SGD 1 million, INR 788 million and AUD 2 million as of December 31, 2022. (2) In addition to the derivatives disclosed in the table, the Company enters into forward contracts to purchase when-issued mortgage-backed securities and tax exempt single family mortgage revenue bonds as part of its community reinvestment initiatives. At December 31, 2023, the Company had one outstanding contract with a total notional amount of $35 million and an immaterial fair value. At December 31, 2022, the Company had one outstanding contract with a total notional amount of $48 million and an immaterial fair value. (3) Collateral amounts, which consist of cash and investment securities, are limited to the related derivative asset/liability balance and do not include excess collateral received/pledged.
Schedule of Hedged Items in Fair Value Hedging Relationship	The following amounts were recorded on the statements of financial condition related to cumulative basis adjustments for fair value hedges (dollars in millions): December 31, 2023 2022 Carrying Amount of Hedged Liabilities Cumulative Amount of Fair Value Hedging Adjustment (Decreasing) the Carrying Amount of Hedged Liabilities (1) Carrying Amount of Hedged Liabilities Cumulative Amount of Fair Value Hedging Adjustment (Decreasing) the Carrying Amount of Hedged Liabilities (1) Long-term borrowings $ 8,620 $ — $ 4,386 $ (3) (1) The balance includes $12 million and $28 million of cumulative hedging adjustments related to discontinued hedging relationships as of December 31, 2023 and 2022, respectively.
Schedule of Impact of the Derivative Instruments on Income	The following table summarizes the impact of the derivative instruments on income and indicates where within the consolidated financial statements such impact is reported (dollars in millions): Location and Amount of (Losses) Gains Recognized on the Consolidated Statements of Income Interest Expense Other Income Long-Term Interest Income For the Year Ended December 31, 2023 Total amounts of income and expense line items presented in the consolidated statements of income, where the effects of fair value or cash flow hedges are recorded $ (855) $ 14,438 $ 85 The effects of cash flow and fair value hedging Gains (losses) on cash flow hedging relationships Amounts reclassified from OCI into earnings $ 9 $ (91) $ — (Losses) gains on fair value hedging relationships (Losses) gains on hedged items $ (19) $ — $ — (Losses) gains on interest rate swaps (80) — — Total (losses) gains on fair value hedging relationships $ (99) $ — $ — For the Year Ended December 31, 2022 Total amounts of income and expense line items presented in the consolidated statements of income, where the effects of fair value or cash flow hedges are recorded $ (606) $ 10,632 $ 75 The effects of cash flow and fair value hedging (Losses) gains on cash flow hedging relationships Amounts reclassified from OCI into earnings $ (2) $ (2) $ — Gains (losses) on fair value hedging relationships Gains on hedged items $ 66 $ — $ — (Losses) gains on interest rate swaps (70) — — Total (losses) gains on fair value hedging relationships $ (4) $ — $ — The effects of derivatives not designated in hedging relationships Gains on derivatives not designated as hedges $ — $ — $ 1 For the Year Ended December 31, 2021 Total amounts of income and expense line items presented in the consolidated statements of income, where the effects of fair value or cash flow hedges are recorded $ (473) $ 8,717 $ 66 The effects of cash flow and fair value hedging (Losses) gains on cash flow hedging relationships Amounts reclassified from OCI into earnings $ (3) $ — $ — Gains (losses) on fair value hedging relationships Gains on hedged items $ 246 $ — $ — (Losses) gains on interest rate swaps (93) — — Total gains on fair value hedging relationships $ 153 $ — $ —

Segment Disclosures (Tables)

Segment Disclosures (Tables)	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Schedule of Segment Disclosures	The following table presents segment data (dollars in millions): Digital Payment Total For the Year Ended December 31, 2023 Interest income Credit card loans $ 14,438 $ — $ 14,438 Private student loans 1,033 — 1,033 Personal loans 1,156 — 1,156 Other loans 326 — 326 Other interest income 892 — 892 Total interest income 17,845 — 17,845 Interest expense 4,746 — 4,746 Net interest income 13,099 — 13,099 Provision for credit losses 6,018 — 6,018 Other income 2,311 450 2,761 Other expense 5,822 194 6,016 Income before income taxes $ 3,570 $ 256 $ 3,826 For the Year Ended December 31, 2022 Interest income Credit card loans $ 10,632 $ — $ 10,632 Private student loans 831 — 831 Personal loans 872 — 872 Other loans 167 — 167 Other interest income 362 — 362 Total interest income 12,864 — 12,864 Interest expense 1,865 — 1,865 Net interest income 10,999 — 10,999 Provision for credit losses 2,359 — 2,359 Other income 2,118 176 2,294 Other expense 5,049 167 5,216 Income before income taxes $ 5,709 $ 9 $ 5,718 For the Year Ended December 31, 2021 Interest income Credit card loans $ 8,717 $ — $ 8,717 Private student loans 742 — 742 Personal loans 878 — 878 Other loans 114 — 114 Other interest income 200 — 200 Total interest income 10,651 — 10,651 Interest expense 1,134 — 1,134 Net interest income 9,517 — 9,517 Provision for credit losses 218 — 218 Other income 1,745 789 2,534 Other expense 4,549 256 4,805 Income before income taxes $ 6,495 $ 533 $ 7,028

Revenue from Contracts with C_2

Revenue from Contracts with Customers (Tables)	12 Months Ended
	Dec. 31, 2023
Revenue from Contract with Customer [Abstract]
Schedule of Revenue from Contracts with Customers Disaggregated by Business Segment	The following table presents revenue from contracts with customers disaggregated by business segment and reconciles revenue from contracts with customers to total other income (dollars in millions): Digital Payment Total For the Year Ended December 31, 2023 Other income subject to ASC 606 Discount and interchange revenue, net (1) $ 1,360 $ 87 $ 1,447 Protection products revenue 172 — 172 Transaction processing revenue — 303 303 Other income 16 69 85 Total other income subject to ASC 606 (2) 1,548 459 2,007 Other income not subject to ASC 606 Loan fee income 763 — 763 Gains (losses) on equity investments — (9) (9) Total other income (loss) not subject to ASC 606 763 (9) 754 Total other income by operating segment $ 2,311 $ 450 $ 2,761 For the Year Ended December 31, 2022 Other income subject to ASC 606 Discount and interchange revenue, net (1) $ 1,301 $ 79 $ 1,380 Protection products revenue 172 — 172 Transaction processing revenue — 249 249 Other income 11 64 75 Total other income subject to ASC 606 (2) 1,484 392 1,876 Other income not subject to ASC 606 Loan fee income 632 — 632 Gains (losses) on equity investments 2 (216) (214) Total other income not subject to ASC 606 634 (216) 418 Total other income by operating segment $ 2,118 $ 176 $ 2,294 For the Year Ended December 31, 2021 Other income subject to ASC 606 Discount and interchange revenue, net (1) $ 1,115 $ 73 $ 1,188 Protection products revenue 165 — 165 Transaction processing revenue — 227 227 Other income — 66 66 Total other income subject to ASC 606 (2) 1,280 366 1,646 Other income not subject to ASC 606 Loan fee income 464 — 464 Gains on equity investments 1 423 424 Total other income not subject to ASC 606 465 423 888 Total other income by operating segment $ 1,745 $ 789 $ 2,534 (1) Net of rewards, including Cashback Bonus rewards, of $3.1 billion, $3.0 billion and $2.5 billion for the years ended December 31, 2023, 2022 and 2021, respectively. (2) Excludes $15 million, $10 million and $2 million deposit product fees that are reported within net interest income for the years ended December 31, 2023, 2022 and 2021, respectively.

Parent Company Condensed Fina_2

Parent Company Condensed Financial Information (Tables) - Parent Company [Member]	12 Months Ended
	Dec. 31, 2023
Condensed Financial Statements, Captions [Line Items]
Schedule of Parent Company Condensed Statements of Financial Condition	The following Parent Company financial statements are provided in accordance with SEC rules, which require such disclosure when the restricted net assets of consolidated subsidiaries exceed 25% of consolidated net assets. Discover Financial Services (Parent Company Only) Condensed Statements of Financial Condition December 31, 2023 2022 (dollars in millions) Assets Cash and cash equivalents (1) $ 3,509 $ 3,155 Restricted cash 75 20 Notes receivable from subsidiaries (2) 1,650 1,759 Investment in bank subsidiary (3) 12,791 11,685 Investments in non-bank subsidiaries (3) 1,116 877 Other assets 871 811 Total assets $ 20,012 $ 18,307 Liabilities and Stockholders’ Equity Non-interest-bearing deposit accounts $ 2 $ 2 Short-term borrowings from subsidiaries 390 115 Long-term borrowings 4,469 3,487 Accrued expenses and other liabilities 323 359 Total liabilities 5,184 3,963 Stockholders’ equity 14,828 14,344 Total liabilities and stockholders’ equity $ 20,012 $ 18,307 (1) The Parent Company had $3.5 billion and $3.1 billion in a money market deposit account at Discover Bank as of December 31, 2023 and 2022, respectively, which is included in cash and cash equivalents. These funds are available to the Parent for liquidity purposes. (2) The Parent Company had a balance of $1.3 billion representing advances to Discover Bank as of December 31, 2023 and 2022, which is included in notes receivable from subsidiaries. (3) Figures presented as of December 31, 2022 have been updated from amounts previously disclosed in Part II Item 5 — Other Information in the Company’s Form 10-Q for the period ended September 30, 2023, due to certain intercompany allocations recorded in the fourth quarter.
Schedule of Parent Company Condensed Statements of Income	Discover Financial Services (Parent Company Only) Condensed Statements of Comprehensive Income For the Years Ended December 31, 2023 2022 2021 (dollars in millions) Interest income $ 240 $ 98 $ 33 Interest expense 189 189 199 Net interest expense 51 (91) (166) Dividends from bank subsidiary 1,700 4,000 3,250 Dividends from non-bank subsidiaries 11 688 — Other income 4 — — Total income 1,766 4,597 3,084 Other expense (2) 6 10 Income before income tax benefit and equity in undistributed net income of subsidiaries 1,768 4,591 3,074 Income tax benefit (expense) (7) 25 25 Equity in undistributed net income of subsidiaries 1,179 (242) 2,323 Net income 2,940 4,374 5,422 Other comprehensive (loss) income, net 114 (245) (139) Comprehensive income $ 3,054 $ 4,129 $ 5,283
Schedule of Parent Company Condensed Statements of Cash Flows	Discover Financial Services (Parent Company Only) Condensed Statements of Cash Flows For the Years Ended December 31, 2023 2022 2021 (dollars in millions) Cash flows provided by operating activities Net income $ 2,940 $ 4,374 $ 5,422 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed net income of subsidiaries (1,179) 242 (2,323) Non-cash dividend from subsidiary (11) (188) — Stock-based compensation expense 74 89 103 Deferred income taxes 2 (8) (13) Depreciation and amortization 4 32 47 Net gains on investments and other assets (4) — — Changes in assets and liabilities: Increase in other assets (65) (143) (91) (Decrease) increase in accrued expenses and other liabilities (41) 27 24 Net cash provided by operating activities 1,720 4,425 3,169 Cash flows (used for) provided by investing activities (1) Return of capital from sale of subsidiary 2 — — Decrease (increase) in loans to subsidiaries 109 (982) 114 Proceeds from sale of subsidiary 3 — — Net cash provided by (used for) investing activities 114 (982) 114 Cash flows used for financing activities Net increase (decrease) in short-term borrowings from subsidiaries 275 (324) 156 Proceeds from issuance of common stock 12 10 9 Proceeds from issuance of long-term borrowings 993 740 — Maturities and repayment of long-term borrowings (15) (834) (172) Purchases of treasury stock (1,938) (2,359) (2,260) Dividends paid on common and preferred stock (752) (703) (636) Net cash used for financing activities (1,425) (3,470) (2,903) Increase (decrease) in cash, cash equivalents and restricted cash 409 (27) 380 Cash, cash equivalents and restricted cash, at beginning of period 3,175 3,202 2,822 Cash, cash equivalents and restricted cash, at end of period $ 3,584 $ 3,175 $ 3,202 Reconciliation of cash, cash equivalents and restricted cash Cash and cash equivalents $ 3,509 $ 3,155 $ 3,182 Restricted cash 75 20 20 Cash, cash equivalents and restricted cash, at end of period $ 3,584 $ 3,175 $ 3,202 Supplemental disclosure of cash flow information Cash paid during the period for: Interest expense $ 175 $ 159 $ 156 Income taxes, net of income tax refunds $ 22 $ (39) $ (70) (1) Subsequent to the issuance of the audited financial statements for the year ended December 31, 2021, the Company identified an immaterial classification error within cash flows (used for)/provided by investing activities. The correction of this error had no impact on the net cash (used for)/provided by investing activities. Management has evaluated the materiality of this misstatement and concluded it was not material to the prior period.

Immaterial Restatement of Pri_2

Immaterial Restatement of Prior Period Financial Statements (Tables)	12 Months Ended
	Dec. 31, 2023
Prior Period Adjustment [Abstract]
Schedule of Error Corrections and Prior Period Adjustments	The prior period impacts to the Company's consolidated statement of financial condition were as shown below (dollars in millions): December 31, 2022 As Previously Reported Restatement Impacts As Restated Assets Other Assets $ 4,519 $ 78 $ 4,597 Total Assets $ 131,628 $ 78 $ 131,706 Liabilities and Stockholders' Equity Liabilities Accrued Expenses and other liabilities $ 5,294 $ 324 $ 5,618 Total Liabilities $ 117,038 $ 324 $ 117,362 Stockholders' Equity Retained Earnings $ 28,453 $ (246) $ 28,207 Total Stockholders' Equity $ 14,590 $ (246) $ 14,344 Total Liabilities and Stockholders' Equity $ 131,628 $ 78 $ 131,706 The prior period impacts to the Company's consolidated statements of income and the related impacts to the consolidated statements of comprehensive income were as shown below (dollars in millions): For the Year Ended December 31, 2022 For the Year Ended December 31, 2021 As Previously Reported Restatement Impacts As Restated As Previously Reported Restatement Impacts As Restated Other income Discount and interchange revenue, net $ 1,424 $ (44) $ 1,380 $ 1,224 $ (36) $ 1,188 Total other income $ 2,338 $ (44) $ 2,294 $ 2,570 $ (36) $ 2,534 Other expense Other expense $ 560 $ (20) $ 540 $ 620 $ — $ 620 Total other expense $ 5,236 $ (20) $ 5,216 $ 4,805 $ — $ 4,805 Income before income taxes $ 5,742 $ (24) $ 5,718 $ 7,064 $ (36) $ 7,028 Income tax expense $ 1,350 $ (6) $ 1,344 $ 1,615 $ (9) $ 1,606 Net Income $ 4,392 $ (18) $ 4,374 $ 5,449 $ (27) $ 5,422 Net income allocated to common stockholders $ 4,304 $ (18) $ 4,286 $ 5,351 $ (28) $ 5,323 Basic earnings per common share $ 15.52 $ (0.07) $ 15.45 $ 17.85 $ (0.10) $ 17.75 Diluted earnings per common share $ 15.50 $ (0.06) $ 15.44 $ 17.83 $ (0.09) $ 17.74 The prior period impacts to the Company's consolidated statements of changes in stockholders' equity were as shown below (dollars in millions): Retained Earnings Total Stockholders' Equity As Previously Reported For the Year Ended December 31, 2020 Balance at December 31, 2019 $ 21,290 $ 11,859 Net income $ 1,141 $ 1,141 Balance at December 31, 2020 $ 19,955 $ 10,884 Restatement Impacts For the Year Ended December 31, 2020 Balance at December 31, 2019 $ (185) $ (185) Net income $ (16) $ (16) Balance at December 31, 2020 $ (201) $ (201) As Restated For the Year Ended December 31, 2020 Balance at December 31, 2019 $ 21,105 $ 11,674 Net income $ 1,125 $ 1,125 Balance at December 31, 2020 $ 19,754 $ 10,683 Retained Earnings Total Stockholders' Equity As Previously Reported For the Year Ended December 31, 2021 Balance at December 31, 2020 $ 19,955 $ 10,884 Net income $ 5,449 $ 5,449 Balance at December 31, 2021 $ 24,766 $ 13,408 Restatement Impacts For the Year Ended December 31, 2021 Balance at December 31, 2020 $ (201) $ (201) Net income $ (27) $ (27) Balance at December 31, 2021 $ (228) $ (228) As Restated For the Year Ended December 31, 2021 Balance at December 31, 2020 $ 19,754 $ 10,683 Net income $ 5,422 $ 5,422 Balance at December 31, 2021 $ 24,538 $ 13,180 Retained Earnings Total Stockholders' Equity As Previously Reported For the Year Ended December 31, 2022 Balance at December 31, 2021 $ 24,766 $ 13,408 Net income $ 4,392 $ 4,392 Balance at December 31, 2022 $ 28,453 $ 14,590 Restatement Impacts For the Year Ended December 31, 2022 Balance at December 31, 2021 $ (228) $ (228) Net income $ (18) $ (18) Balance at December 31, 2022 $ (246) $ (246) As Restated For the Year Ended December 31, 2022 Balance at December 31, 2021 $ 24,538 $ 13,180 Net income $ 4,374 $ 4,374 Balance at December 31, 2022 $ 28,207 $ 14,344 The prior period impacts to the Company's consolidated statements of cash flows were as follows (dollars in millions): For the Year Ended December 31, 2022 For the Year Ended December 31, 2021 As Previously Reported Restatement Impacts As Restated As Previously Reported Restatement Impacts As Restated Cash flows provided by operating activities Net Income $ 4,392 $ (18) $ 4,374 $ 5,449 $ (27) $ 5,422 Adjustments to reconcile net income to net cash provided by operating activities: Deferred income taxes $ (427) $ (6) $ (433) $ 327 $ (9) $ 318 Changes in assets and liabilities: Increase in accrued expenses and liabilities $ 1,080 $ 24 $ 1,104 $ 410 $ 36 $ 446 Net cash provided by operating activities $ 7,140 $ — $ 7,140 $ 6,019 $ — $ 6,019 The following tables reflect the impacts of the card product misclassification and subsequent restatements of certain prior period amounts reported on the Parent Company's financial statements. The prior period impacts to the Parent Company's condensed statement of financial condition were as follows (dollars in millions): December 31, 2022 As Previously Reported Restatement Impacts As Restated Investment in bank subsidiary (1) $ 11,922 $ (237) $ 11,685 Investments in non-bank subsidiaries (1) $ 886 $ (9) $ 877 Total assets $ 18,553 $ (246) $ 18,307 Liabilities and Stockholders’ Equity Stockholders' equity $ 14,590 $ (246) $ 14,344 Total liabilities and stockholders' equity $ 18,553 $ (246) $ 18,307 (1) Figures presented have been updated from amounts previously disclosed in Part II Item 5 — Other Information in the Company’s Form 10-Q for the period ended September 30, 2023, due to certain intercompany allocations recorded in the fourth quarter. The prior period impacts to the Parent Company's condensed statements of income and the related impacts to the condensed statements of comprehensive income were as follows (dollars in millions): For the Year Ended December 31, 2022 For the Year Ended December 31, 2021 As Previously Reported Restatement Impacts As Restated As Previously Reported Restatement Impacts As Restated Equity in undistributed net income of subsidiaries $ (224) $ (18) $ (242) $ 2,350 $ (27) $ 2,323 Net income $ 4,392 $ (18) $ 4,374 $ 5,449 $ (27) $ 5,422 Comprehensive income $ 4,147 $ (18) $ 4,129 $ 5,310 $ (27) $ 5,283 The prior period impacts to the Parent Company's condensed statements of cash flows were as follows (dollars in millions): For the Year Ended December 31, 2022 For the Year Ended December 31, 2021 As Previously Reported Restatement Impacts As Restated As Previously Reported Restatement Impacts As Restated Cash flows provided by operating activities Net income $ 4,392 $ (18) $ 4,374 $ 5,449 $ (27) $ 5,422 Adjustments to reconcile net income to net cash provided by operating activities: Equity in undistributed net income of subsidiaries $ 224 $ 18 $ 242 $ (2,350) $ 27 $ (2,323) Net cash provided by operating activities $ 4,425 $ — $ 4,425 $ 3,169 $ — $ 3,169

Background and Basis of Prese_3

Background and Basis of Presentation (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) segment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of reportable segments | segment	2
Consolidation percentage	50%
Cost method investment ownership percentage	20%
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses	$ 9,283	$ 7,374	$ 6,822	$ 8,226
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2022-02 [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Allowance for credit losses	$ 68	$ (68)

Summary of Significant Accoun_3

Summary of Significant Accounting Policies (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Line Items]
Cash and due from banks	$ 2,000	$ 1,500
Interest-earning deposits at other banks	$ 9,700	7,400
Threshold charge-off period for bankruptcy and probate accounts	60 days
Fraudulent transaction charge off period	90 days
Off-Balance sheet, credit loss, liability	$ 0
Capitalized Computer Software, Gross	0
Advertising costs	359	307	$ 262
Deferred revenues related to balance transfer fees	107	85
Unamortized deferred costs for loan origination	306	298
Credit card rewards cost	3,100	3,000	$ 2,500
Liability for customer rewards	2,200	2,200
Unamortized portion of the deferred incentive payments	$ 27	$ 32
Retirement Eligible [Member]
Accounting Policies [Line Items]
Amortization of share-based compensation in accordance with vesting terms	12 months
Building [Member]
Accounting Policies [Line Items]
Premises and equipment, useful life	39 years
Minimum [Member]
Accounting Policies [Line Items]
Delinquent loan qualification period	30 days
Minimum [Member] | Improvements [Member]
Accounting Policies [Line Items]
Premises and equipment, useful life	10 years
Minimum [Member] | Furniture and Fixtures [Member]
Accounting Policies [Line Items]
Premises and equipment, useful life	5 years
Minimum [Member] | Equipment [Member]
Accounting Policies [Line Items]
Premises and equipment, useful life	3 years
Minimum [Member] | Software Development [Member]
Accounting Policies [Line Items]
Premises and equipment, useful life	3 years
Maximum [Member]
Accounting Policies [Line Items]
Cash and cash equivalents maturity period	90 days
Maximum [Member] | Improvements [Member]
Accounting Policies [Line Items]
Premises and equipment, useful life	15 years
Maximum [Member] | Furniture and Fixtures [Member]
Accounting Policies [Line Items]
Premises and equipment, useful life	10 years
Maximum [Member] | Equipment [Member]
Accounting Policies [Line Items]
Premises and equipment, useful life	10 years
Maximum [Member] | Software Development [Member]
Accounting Policies [Line Items]
Premises and equipment, useful life	10 years
Credit Card Loans [Member]
Accounting Policies [Line Items]
Threshold charge-off period for past due accounts (in days)	180 days
Amortization period for loan origination costs	1 year
Personal And Private Student Loan Member [Member]
Accounting Policies [Line Items]
Threshold charge-off period for past due accounts (in days)	120 days

Investments (Narrative) (Detail

Investments (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Summary of Investment Holdings [Line Items]
Proceeds from the sale of available for sale securities	$ 0	$ 0	$ 5
Taxable interest on investment securities	449	179	182
Tax exempt interest on investment securities	0	0	0
Equity Securities, FV-NI, Gain (Loss)	9	214	(424)
Other Investments in Payment Service Entities with Actively Traded Stocks
Summary of Investment Holdings [Line Items]
Equity Securities, FV-NI, Gain (Loss)		214	$ (423)
Other Assets [Member] | Payment Services [Member]
Summary of Investment Holdings [Line Items]
Equity securities without readily determinable fair value	35	39
Equity Securities, FV-NI	1	41
Other Assets [Member] | Community Reinvestment Act [Member]
Summary of Investment Holdings [Line Items]
Equity method investments	514	416
Investment related to affordable housing projects	456	375
Other Liabilities [Member] | Community Reinvestment Act [Member]
Summary of Investment Holdings [Line Items]
Contingent liabilities related to equity method investments	187	111
Contingent liabilities related to affordable housing project investments	$ 155	$ 100

Investments (Schedule of Invest

Investments (Schedule of Investment Securities) (Details) - USD ($) $ in Millions		Dec. 31, 2023	Dec. 31, 2022
Summary of Investment Holdings [Line Items]
Investment securities		$ 13,655	$ 12,208
US Treasury and Government
Summary of Investment Holdings [Line Items]
Investment securities	[1],[2]	12,937	11,423
Residential Mortgage Backed Securities - Agency [Member]
Summary of Investment Holdings [Line Items]
Investment securities	[3]	718	785
U.S. Treasury Securities [Member] | Asset Pledged as Collateral [Member]
Summary of Investment Holdings [Line Items]
Derivative collateral		$ 320	$ 97
[1] $320 million and $97 million of U.S. Treasury securities pledged as swap collateral as of December 31, 2023 and 2022, respectively. Consists of securities issued by the Federal Home Loan Bank (“FHLB”).

Investments (Schedule of Amorti

Investments (Schedule of Amortized Cost, Gross Unrealized Gains, Gross Unrealized Losses and Fair Value) (Details) - USD ($) $ in Millions		Dec. 31, 2023		Dec. 31, 2022
Summary of Investment Holdings [Line Items]
Debt Securities, available-for-sale, amortized cost	[1]	$ 13,451		$ 12,167
Available-for-sale investment securities, gross unrealized gains	[1]	52		21
Available-for-sale investment securities, gross unrealized losses	[1]	(101)		(201)
Available-for-sale investment securities, fair value	[1]	13,402		11,987
Debt Securities, Held-to-maturity	[2]	253		221
Held-to-maturity investment securities, gross unrealized gains	[2]	0		0
Held-to-maturity investment securities, gross unrealized losses	[2]	(19)		(22)
Held-to-maturity investment securities	[2]	234		199
US Treasury and Government
Summary of Investment Holdings [Line Items]
Debt Securities, available-for-sale, amortized cost	[1]	12,971		11,580
Available-for-sale investment securities, gross unrealized gains	[1]	52		21
Available-for-sale investment securities, gross unrealized losses	[1]	(86)		(178)
Available-for-sale investment securities, fair value	[1]	12,937		11,423
Residential Mortgage Backed Securities - Agency [Member]
Summary of Investment Holdings [Line Items]
Debt Securities, available-for-sale, amortized cost	[1]	480	[3]	587
Available-for-sale investment securities, gross unrealized gains	[1]	0		0
Available-for-sale investment securities, gross unrealized losses	[1]	(15)		(23)
Available-for-sale investment securities, fair value	[1]	465	[3]	564
Debt Securities, Held-to-maturity	[2],[4]	253	[3]	221
Held-to-maturity investment securities, gross unrealized gains	[2],[4]	0		0
Held-to-maturity investment securities, gross unrealized losses	[2],[4]	(19)		(22)
Held-to-maturity investment securities	[2],[4]	$ 234	[3]	$ 199
[1] Available-for-sale investment securities are reported at fair value. Held-to-maturity investment securities are reported at amortized cost. Maturities of RMBS are reflective of the contractual maturities of the investment. Amounts represent residential mortgage-backed securities (“RMBS”) that were classified as held-to-maturity as they were entered into as a part of the Company’s community reinvestment initiatives.

Investments (Schedule of Fair V

Investments (Schedule of Fair Value of Securities in a Continuous Unrealized Loss Position for Less Than 12 Months and More Than 12 Months) (Details) $ in Millions	Dec. 31, 2023 USD ($) securities	Dec. 31, 2022 USD ($) securities
US Treasury and Government
Summary of Investment Holdings [Line Items]
Available-for-sale investment securities, continuous unrealized loss position, number of securities | securities	105	123
Available-for-sale investment securities, continuous unrealized loss position, less than 12 months, fair value	$ 3,513	$ 9,060
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	(13)	(175)
Available-for-sale investment securities, continuous unrealized loss position, more than 12 months, fair value	3,978	106
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ (73)	$ (3)
Residential Mortgage Backed Securities - Agency [Member]
Summary of Investment Holdings [Line Items]
Available-for-sale investment securities, continuous unrealized loss position, number of securities | securities	31	34
Available-for-sale investment securities, continuous unrealized loss position, less than 12 months, fair value	$ 0	$ 559
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, Less than 12 Months, Accumulated Loss	0	(22)
Available-for-sale investment securities, continuous unrealized loss position, more than 12 months, fair value	465	5
Debt Securities, Available-for-sale, Continuous Unrealized Loss Position, 12 Months or Longer, Accumulated Loss	$ (15)	$ (1)

Investments (Schedule of Maturi

Investments (Schedule of Maturities and Weighted Average Yields of Available-for-Sale Debt Securities and Held-to-Maturity Debt Securities) (Details) - USD ($) $ in Millions		Dec. 31, 2023		Dec. 31, 2022
Summary of Investment Holdings [Line Items]
Available-for-sale investment securities, debt maturities, one year or less, amortized cost		$ 2,127
Available-for-sale investment securities, debt maturities, after one year through five years, amortized cost		10,707
Available-for-sale investment securities, debt maturities, after five years through ten years, amortized cost		236
Available-for-sale investment securities, debt maturities, after ten years, amortized cost		381
Available-for-sale investment securities, amortized cost	[1]	13,451		$ 12,167
Held-to-maturity investment securities, debt maturities, one year or less, amortized cost		0
Held-to-maturity investment securities, debt maturities, after one year through five years, amortized cost		0
Held-to-maturity investment securities, debt maturities, after five years through ten years, amortized cost		0
Held-to-maturity investment securities, debt maturities, after ten years, amortized cost		253
Held-to-maturity investment securities, amortized cost	[2]	253		221
Available-for-sale investment securities, debt maturities, one year or less, fair value		2,093
Available-for-sale investment securities, debt maturities, after one year through five years, fair value		10,698
Available-for-sale investment securities, debt maturities, after five years through ten years, fair value		241
Available-for-sale investment securities, debt maturities, after ten years, fair value		370
Available-for-sale investment securities, fair value	[1]	13,402		11,987
Held-to-maturity investment securities, debt maturities, one year or less, fair value		0
Held-to-maturity investment securities, debt maturities, after one year through five years, fair value		0
Held-to-maturity investment securities, debt maturities, after five years through ten years, fair value		0
Held-to-maturity investment securities, debt maturities, after ten years, fair value		234
Held-to-maturity investment securities, fair value	[2]	$ 234		199
Available-for-sale investment securities, debt maturities, one year or less, weighted-average yield	[3]	2.14%
Available-for-sale investment securities, debt maturities, after one year through five years, weighted-average yield	[3]	3.86%
Available-for-sale investment securities, debt maturities, after five years through ten years, weighted-average yield	[3]	4.26%
Available-for-sale investment securities, debt maturities, after ten years, weighted-average yield	[3]	3.53%
Available-for-sale investment securities, weighted-average yield	[3]	3.58%
Held-to-maturity investment securities, debt maturities, one year or less, weighted-average yield		0%
Held-to-maturity investment securities, debt maturities, after one year through five years, weighted-average yield		0%
Held-to-maturity investment securities, debt maturities, after five years though ten years, weighted-average yield		0%
Held-to-maturity investment securities, debt maturities, after ten years, weighted-average yield		3.56%
Held-to-maturity investment securities, weighted-average yield		3.56%
US Treasury and Government
Summary of Investment Holdings [Line Items]
Available-for-sale investment securities, debt maturities, one year or less, amortized cost		$ 2,127
Available-for-sale investment securities, debt maturities, after one year through five years, amortized cost		10,634
Available-for-sale investment securities, debt maturities, after five years through ten years, amortized cost		210
Available-for-sale investment securities, debt maturities, after ten years, amortized cost		0
Available-for-sale investment securities, amortized cost	[1]	12,971		11,580
Available-for-sale investment securities, debt maturities, one year or less, fair value		2,093
Available-for-sale investment securities, debt maturities, after one year through five years, fair value		10,628
Available-for-sale investment securities, debt maturities, after five years through ten years, fair value		216
Available-for-sale investment securities, debt maturities, after ten years, fair value		0
Available-for-sale investment securities, fair value	[1]	$ 12,937		11,423
Available-for-sale investment securities, debt maturities, one year or less, weighted-average yield	[3]	2.14%
Available-for-sale investment securities, debt maturities, after one year through five years, weighted-average yield	[3]	3.87%
Available-for-sale investment securities, debt maturities, after five years through ten years, weighted-average yield	[3]	4.37%
Available-for-sale investment securities, debt maturities, after ten years, weighted-average yield	[3]	0%
Available-for-sale investment securities, weighted-average yield	[3]	3.59%
Residential Mortgage Backed Securities - Agency [Member]
Summary of Investment Holdings [Line Items]
Available-for-sale investment securities, debt maturities, one year or less, amortized cost	[4]	$ 0
Available-for-sale investment securities, debt maturities, after one year through five years, amortized cost	[4]	73
Available-for-sale investment securities, debt maturities, after five years through ten years, amortized cost	[4]	26
Available-for-sale investment securities, debt maturities, after ten years, amortized cost	[4]	381
Available-for-sale investment securities, amortized cost	[1]	480	[4]	587
Held-to-maturity investment securities, debt maturities, one year or less, amortized cost	[4]	0
Held-to-maturity investment securities, debt maturities, after one year through five years, amortized cost	[4]	0
Held-to-maturity investment securities, debt maturities, after five years through ten years, amortized cost	[4]	0
Held-to-maturity investment securities, debt maturities, after ten years, amortized cost	[4]	253
Held-to-maturity investment securities, amortized cost	[2],[5]	253	[4]	221
Available-for-sale investment securities, debt maturities, one year or less, fair value	[4]	0
Available-for-sale investment securities, debt maturities, after one year through five years, fair value	[4]	70
Available-for-sale investment securities, debt maturities, after five years through ten years, fair value	[4]	25
Available-for-sale investment securities, debt maturities, after ten years, fair value	[4]	370
Available-for-sale investment securities, fair value	[1]	465	[4]	564
Held-to-maturity investment securities, debt maturities, one year or less, fair value	[4]	0
Held-to-maturity investment securities, debt maturities, after one year through five years, fair value	[4]	0
Held-to-maturity investment securities, debt maturities, after five years through ten years, fair value	[4]	0
Held-to-maturity investment securities, debt maturities, after ten years, fair value	[4]	234
Held-to-maturity investment securities, fair value	[2],[5]	$ 234	[4]	$ 199
Available-for-sale investment securities, debt maturities, one year or less, weighted-average yield	[3],[4]	0%
Available-for-sale investment securities, debt maturities, after one year through five years, weighted-average yield	[3],[4]	2.09%
Available-for-sale investment securities, debt maturities, after five years through ten years, weighted-average yield	[3],[4]	3.35%
Available-for-sale investment securities, debt maturities, after ten years, weighted-average yield	[3],[4]	3.53%
Available-for-sale investment securities, weighted-average yield	[3],[4]	3.30%
Held-to-maturity investment securities, debt maturities, one year or less, weighted-average yield	[4]	0%
Held-to-maturity investment securities, debt maturities, after one year through five years, weighted-average yield	[4]	0%
Held-to-maturity investment securities, debt maturities, after five years though ten years, weighted-average yield	[4]	0%
Held-to-maturity investment securities, debt maturities, after ten years, weighted-average yield	[4]	3.56%
Held-to-maturity investment securities, weighted-average yield	[4]	3.56%
[1] Available-for-sale investment securities are reported at fair value. Held-to-maturity investment securities are reported at amortized cost. The weighted-average yield for available-for-sale investment securities is calculated based on the amortized cost. Maturities of RMBS are reflective of the contractual maturities of the investment. Amounts represent residential mortgage-backed securities (“RMBS”) that were classified as held-to-maturity as they were entered into as a part of the Company’s community reinvestment initiatives.

Loan Receivables (Narrative) (D

Loan Receivables (Narrative) (Details) $ in Millions	3 Months Ended			12 Months Ended
	Dec. 31, 2022 USD ($)	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2023 USD ($) segment	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Dec. 31, 2020 USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loan portfolio segments (in segments) | segment				2
Allowance for credit losses	$ 7,374			$ 9,283	$ 7,374	$ 6,822	$ 8,226
Allowance for credit loss, period increase (decrease)				$ 1,900
Expected future unemployment rate				4.17%
Expected future peak unemployment rate				4.26%
Expected future increase in GDP				1.36%
Financing receivable, allowance for credit loss, reasonable and supportable forecast period	18 months	18 months	18 months	18 months
Financing receivable, allowance for credit loss, reversion period				12 months	12 months
Percentage of defaulted loans that were charged off at the end of the month in which they defaulted (in percent)					65%
Minimum [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Delinquent loan qualification period				30 days
Credit Card Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses	$ 5,883			$ 7,619	$ 5,883	5,273	6,491
Temporary reduced payment program, maximum period of payment reduction				12 months
Permanent workout program, maturity				72 months
Financing Receivable, Modified in Period, Accrued Interest, Amount				$ 117	29
Total Other Loans [Member] | Private Student Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses	839			$ 858	839	843	840
Loan Modification Program Maximum Consecutive Months				6 months
Temporary Loan Modification Common Maximum				12 months
Total Other Loans [Member] | Personal Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Allowance for credit losses	$ 595			$ 722	$ 595	$ 662	$ 857
Temporary reduced payment program, maximum period of payment reduction				12 months
Maximum repayment term for permanent modification programs (in years)				9 years

Loan Receivables (Schedule of L

Loan Receivables (Schedule of Loan Receivables) (Details) - USD ($) $ in Millions		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 128,409	$ 112,120
Allowance for credit losses		(9,283)	(7,374)	$ (6,822)	$ (8,226)
Net loan receivables		119,126	104,746
Variable Interest Entity, Primary Beneficiary [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		30,590	25,937
Allowance for credit losses		(1,347)	(1,152)
Credit Card Securitization Trusts [Member] | Variable Interest Entity, Primary Beneficiary [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables	[1]	30,440	25,761
Allowance for credit losses	[1]	(1,347)	(1,152)
Net loan receivables		29,093	24,609
Sellers' interest		15,598	12,220
Credit Card Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables	[2],[3]	102,259	90,113
Allowance for credit losses		(7,619)	(5,883)	(5,273)	(6,491)
Interest Receivable		753	611
Credit Card Loans [Member] | Credit Card Securitization Trusts [Member] | Variable Interest Entity, Primary Beneficiary [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Investors' interests		14,800	13,500
Sellers' interest		15,600	12,200
Total Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables	[4]	26,150	22,007
Total Other Loans [Member] | Private Student Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables	[4],[5]	10,352	10,308
Allowance for credit losses		(858)	(839)	(843)	(840)
Interest Receivable		522	468
Private student loans including PCI in repayment		6,300	6,000
Total Other Loans [Member] | Personal Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables	[4]	9,852	7,998
Allowance for credit losses		(722)	(595)	(662)	(857)
Interest Receivable		69	49
Total Other Loans [Member] | Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables	[4]	5,946	3,701
Allowance for credit losses		(84)	(57)	$ (44)	$ (38)
Interest Receivable		$ 21	$ 11
[1] The Company maintains its allowance for credit losses at an amount equal to lifetime expected credit losses associated with all loan receivables, which includes all loan receivables in the trusts. Therefore, the credit risk associated with the transferred receivables is fully reflected on the Company’s statements of financial condition in accordance with GAAP. Amounts include carrying values of $14.8 billion and $13.5 billion underlying investors’ interest in trust debt at December 31, 2023 and 2022, respectively, and $15.6 billion and $12.2 billion in seller’s interest at December 31, 2023 and 2022, respectively. See Note 5: Credit Card and Private Student Loan Securitization Activities for additional information. Unbilled accrued interest receivable on credit card loans, which is presented as part of other assets in the Company’s consolidated statements of financial condition, was $753 million and $611 million at December 31, 2023 and 2022, respectively. Accrued interest receivable on private student, personal and other loans, which is presented as part of other assets in the Company’s consolidated statements of financial condition, was $522 million, $69 million and $21 million, respectively, at December 31, 2023 and $468 million, $49 million and $11 million, respectively, at December 31, 2022. Private student loans in repayment were $6.3 billion and $6.0 billion at December 31, 2023 and 2022, respectively.

Loan Receivables (Schedule of C

Loan Receivables (Schedule of Credit Risk Profile by FICO Score and Origination Year) (Details) - USD ($) $ in Millions		Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables		$ 128,409	$ 112,120
Credit Card Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables	[1],[2]	102,259	90,113
Credit Card Loans [Member] | FICO Score, 660 and Above [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, credit card		$ 82,238	$ 73,827
FICO distribution %, credit card		80%	82%
Credit Card Loans [Member] | FICO Score, Less Than 660 Or No Score [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, credit card		$ 20,021	$ 16,286
FICO distribution %, credit card		20%	18%
Total Other Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables	[3]	$ 26,150	$ 22,007
Total Other Loans [Member] | Private Student Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables	[3],[4]	10,352	10,308
Total Other Loans [Member] | Private Student Loans [Member] | FICO Score, 660 and Above [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, year one, originated, current fiscal year		$ 1,010
FICO distribution %, originated in current fiscal year		94%
Loan receivable, year two, originated, fiscal year before current fiscal year		$ 1,495	$ 1,172
FICO distribution %, originated in fiscal year before latest fiscal year		95%	94%
Loan receivable, year three, originated, two years before current fiscal year		$ 1,468	$ 1,668
FICO distribution %, originated two years before latest fiscal year		94%	95%
Loan receivable, year four, originated, three years before current fiscal year		$ 1,180	$ 1,365
FICO distribution %, originated three years before latest fiscal year		94%	95%
Loan receivable, year five, originated, four years before current fiscal year		$ 1,039	$ 1,221
FICO distribution %, originated four years before latest fiscal year		93%	95%
Loan receivable, originated, more than five years before current fiscal year		$ 3,498	$ 4,306
FICO distribution %, originated five or more years before latest fiscal year		93%	94%
Loan receivables		$ 9,690	$ 9,732
FICO scores as a percentage of loan receivables		94%	94%
Total Other Loans [Member] | Private Student Loans [Member] | FICO Score, Less Than 660 Or No Score [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, year one, originated, current fiscal year		$ 69
FICO distribution %, originated in current fiscal year		6%
Loan receivable, year two, originated, fiscal year before current fiscal year		$ 85	$ 77
FICO distribution %, originated in fiscal year before latest fiscal year		5%	6%
Loan receivable, year three, originated, two years before current fiscal year		$ 91	$ 81
FICO distribution %, originated two years before latest fiscal year		6%	5%
Loan receivable, year four, originated, three years before current fiscal year		$ 75	$ 65
FICO distribution %, originated three years before latest fiscal year		6%	5%
Loan receivable, year five, originated, four years before current fiscal year		$ 76	$ 67
FICO distribution %, originated four years before latest fiscal year		7%	5%
Loan receivable, originated, more than five years before current fiscal year		$ 266	$ 286
FICO distribution %, originated five or more years before latest fiscal year		7%	6%
Loan receivables		$ 662	$ 576
FICO scores as a percentage of loan receivables		6%	6%
Total Other Loans [Member] | Personal Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables	[3]	$ 9,852	$ 7,998
Total Other Loans [Member] | Personal Loans [Member] | FICO Score, 660 and Above [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, year one, originated, current fiscal year		$ 5,149
FICO distribution %, originated in current fiscal year		98%
Loan receivable, year two, originated, fiscal year before current fiscal year		$ 2,604	$ 4,270
FICO distribution %, originated in fiscal year before latest fiscal year		93%	98%
Loan receivable, year three, originated, two years before current fiscal year		$ 1,049	$ 1,958
FICO distribution %, originated two years before latest fiscal year		92%	96%
Loan receivable, year four, originated, three years before current fiscal year		$ 355	$ 790
FICO distribution %, originated three years before latest fiscal year		92%	95%
Loan receivable, year five, originated, four years before current fiscal year		$ 169	$ 444
FICO distribution %, originated four years before latest fiscal year		88%	92%
Loan receivable, originated, more than five years before current fiscal year		$ 78	$ 249
FICO distribution %, originated five or more years before latest fiscal year		80%	86%
Loan receivables		$ 9,404	$ 7,711
FICO scores as a percentage of loan receivables		95%	96%
Total Other Loans [Member] | Personal Loans [Member] | FICO Score, Less Than 660 Or No Score [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, year one, originated, current fiscal year		$ 100
FICO distribution %, originated in current fiscal year		2%
Loan receivable, year two, originated, fiscal year before current fiscal year		$ 187	$ 77
FICO distribution %, originated in fiscal year before latest fiscal year		7%	2%
Loan receivable, year three, originated, two years before current fiscal year		$ 91	$ 91
FICO distribution %, originated two years before latest fiscal year		8%	4%
Loan receivable, year four, originated, three years before current fiscal year		$ 29	$ 40
FICO distribution %, originated three years before latest fiscal year		8%	5%
Loan receivable, year five, originated, four years before current fiscal year		$ 22	$ 38
FICO distribution %, originated four years before latest fiscal year		12%	8%
Loan receivable, originated, more than five years before current fiscal year		$ 19	$ 41
FICO distribution %, originated five or more years before latest fiscal year		20%	14%
Loan receivables		$ 448	$ 287
FICO scores as a percentage of loan receivables		5%	4%
[1] Amounts include carrying values of $14.8 billion and $13.5 billion underlying investors’ interest in trust debt at December 31, 2023 and 2022, respectively, and $15.6 billion and $12.2 billion in seller’s interest at December 31, 2023 and 2022, respectively. See Note 5: Credit Card and Private Student Loan Securitization Activities for additional information. Unbilled accrued interest receivable on credit card loans, which is presented as part of other assets in the Company’s consolidated statements of financial condition, was $753 million and $611 million at December 31, 2023 and 2022, respectively. Accrued interest receivable on private student, personal and other loans, which is presented as part of other assets in the Company’s consolidated statements of financial condition, was $522 million, $69 million and $21 million, respectively, at December 31, 2023 and $468 million, $49 million and $11 million, respectively, at December 31, 2022. Private student loans in repayment were $6.3 billion and $6.0 billion at December 31, 2023 and 2022, respectively.

Loan Receivables (Schedule of D

Loan Receivables (Schedule of Delinquent Loans by Origination Year) (Details) - USD ($) $ in Millions		Dec. 31, 2023	Dec. 31, 2022
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables		$ 128,409	$ 112,120
30-89 Days Delinquent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables		2,382	1,477
90 or More Days Delinquent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables		2,045	1,101
Credit Card Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables	[1],[2]	102,259	90,113
Credit Card Loans [Member] | 30-89 Days Delinquent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, credit card		2,038	1,250
Credit Card Loans [Member] | 90 or More Days Delinquent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, credit card		1,917	1,028
Credit Card Loans [Member] | Total Past Due
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, credit card		3,955	2,278
Total Other Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables	[3]	26,150	22,007
Total Other Loans [Member] | Private Student Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables	[3],[4]	10,352	10,308
Total Other Loans [Member] | Personal Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables	[3]	9,852	7,998
Total Other Loans [Member] | 30-89 Days Delinquent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables		344	227
Total Other Loans [Member] | 30-89 Days Delinquent [Member] | Private Student Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, year one, originated, current fiscal year	[5]	0
Loan receivable, year two, originated, fiscal year before current fiscal year	[5]	7	0
Loan receivable, year three, originated, two years before current fiscal year	[5]	18	6
Loan receivable, year four, originated, three years before current fiscal year	[5]	20	14
Loan receivable, year five, originated, four years before current fiscal year	[5]	24	19
Loan receivable, originated, more than five years before current fiscal year	[5]	132	128
Loan receivables	[5]	201	167
Total Other Loans [Member] | 30-89 Days Delinquent [Member] | Personal Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, year one, originated, current fiscal year		26
Loan receivable, year two, originated, fiscal year before current fiscal year		44	12
Loan receivable, year three, originated, two years before current fiscal year		20	15
Loan receivable, year four, originated, three years before current fiscal year		7	8
Loan receivable, year five, originated, four years before current fiscal year		5	6
Loan receivable, originated, more than five years before current fiscal year		2	6
Loan receivables		104	47
Total Other Loans [Member] | 90 or More Days Delinquent [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables		128	73
Total Other Loans [Member] | 90 or More Days Delinquent [Member] | Private Student Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, year one, originated, current fiscal year	[5]	0
Loan receivable, year two, originated, fiscal year before current fiscal year	[5]	2	0
Loan receivable, year three, originated, two years before current fiscal year	[5]	6	1
Loan receivable, year four, originated, three years before current fiscal year	[5]	7	3
Loan receivable, year five, originated, four years before current fiscal year	[5]	9	5
Loan receivable, originated, more than five years before current fiscal year	[5]	46	36
Loan receivables	[5]	70	45
Total Other Loans [Member] | 90 or More Days Delinquent [Member] | Personal Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, year one, originated, current fiscal year		8
Loan receivable, year two, originated, fiscal year before current fiscal year		16	3
Loan receivable, year three, originated, two years before current fiscal year		8	6
Loan receivable, year four, originated, three years before current fiscal year		2	2
Loan receivable, year five, originated, four years before current fiscal year		2	2
Loan receivable, originated, more than five years before current fiscal year		3	3
Loan receivables		39	16
Total Other Loans [Member] | Total Past Due | Private Student Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, year one, originated, current fiscal year	[5]	0
Loan receivable, year two, originated, fiscal year before current fiscal year	[5]	9	0
Loan receivable, year three, originated, two years before current fiscal year	[5]	24	7
Loan receivable, year four, originated, three years before current fiscal year	[5]	27	17
Loan receivable, year five, originated, four years before current fiscal year	[5]	33	24
Loan receivable, originated, more than five years before current fiscal year	[5]	178	164
Loan receivables	[5]	271	212
Total Other Loans [Member] | Total Past Due | Personal Loans [Member]
Financing Receivable, Credit Quality Indicator [Line Items]
Loan receivables, year one, originated, current fiscal year		34
Loan receivable, year two, originated, fiscal year before current fiscal year		60	15
Loan receivable, year three, originated, two years before current fiscal year		28	21
Loan receivable, year four, originated, three years before current fiscal year		9	10
Loan receivable, year five, originated, four years before current fiscal year		7	8
Loan receivable, originated, more than five years before current fiscal year		5	9
Loan receivables		$ 143	$ 63
[1] Amounts include carrying values of $14.8 billion and $13.5 billion underlying investors’ interest in trust debt at December 31, 2023 and 2022, respectively, and $15.6 billion and $12.2 billion in seller’s interest at December 31, 2023 and 2022, respectively. See Note 5: Credit Card and Private Student Loan Securitization Activities for additional information. Unbilled accrued interest receivable on credit card loans, which is presented as part of other assets in the Company’s consolidated statements of financial condition, was $753 million and $611 million at December 31, 2023 and 2022, respectively. Accrued interest receivable on private student, personal and other loans, which is presented as part of other assets in the Company’s consolidated statements of financial condition, was $522 million, $69 million and $21 million, respectively, at December 31, 2023 and $468 million, $49 million and $11 million, respectively, at December 31, 2022. Private student loans in repayment were $6.3 billion and $6.0 billion at December 31, 2023 and 2022, respectively. Private student loans may include a deferment period, during which borrowers are not required to make payments while enrolled in school at least half time as determined by the school. During a deferment period, these loans do not advance into delinquency.

Loan Receivables (Schedule of_2

Loan Receivables (Schedule of Changes in the Allowance for Credit Losses) (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit Loss, balance at beginning of period		$ 7,374	$ 6,822	$ 8,226
Provision for credit losses	[1]	6,019	2,369	227
Charge-offs		(4,927)	(2,702)	(2,534)
Recoveries		885	885	903
Net charge-offs		(4,042)	(1,817)	(1,631)
Allowance for credit Loss, balance at end of period		9,283	7,374	6,822
Credit loss build (release) on unfunded commitments		(1)	(10)	(9)
Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2022-02 [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit Loss, balance at beginning of period		(68)
Allowance for credit Loss, balance at end of period		68	(68)
Cumulative Effect, Period of Adoption, Adjusted Balance | Accounting Standards Update 2022-02 [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit Loss, balance at beginning of period		7,306
Allowance for credit Loss, balance at end of period			7,306
Credit Card Loans [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit Loss, balance at beginning of period		5,883	5,273	6,491
Provision for credit losses	[1]	5,476	2,233	229
Charge-offs		(4,481)	(2,417)	(2,255)
Recoveries		807	794	808
Net charge-offs		(3,674)	(1,623)	(1,447)
Allowance for credit Loss, balance at end of period		7,619	5,883	5,273
Credit Card Loans [Member] | Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2022-02 [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit Loss, balance at beginning of period		(66)
Allowance for credit Loss, balance at end of period			(66)
Credit Card Loans [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance | Accounting Standards Update 2022-02 [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit Loss, balance at beginning of period		5,817
Allowance for credit Loss, balance at end of period			5,817
Total Other Loans [Member] | Private Student Loans [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit Loss, balance at beginning of period		839	843	840
Provision for credit losses	[1]	152	99	67
Charge-offs		(155)	(126)	(89)
Recoveries		22	23	25
Net charge-offs		(133)	(103)	(64)
Allowance for credit Loss, balance at end of period		858	839	843
Total Other Loans [Member] | Private Student Loans [Member] | Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2022-02 [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit Loss, balance at beginning of period		0
Allowance for credit Loss, balance at end of period			0
Total Other Loans [Member] | Private Student Loans [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance | Accounting Standards Update 2022-02 [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit Loss, balance at beginning of period		839
Allowance for credit Loss, balance at end of period			839
Total Other Loans [Member] | Personal Loans [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit Loss, balance at beginning of period		595	662	857
Provision for credit losses	[1]	363	24	(75)
Charge-offs		(290)	(159)	(190)
Recoveries		56	68	70
Net charge-offs		(234)	(91)	(120)
Allowance for credit Loss, balance at end of period		722	595	662
Total Other Loans [Member] | Personal Loans [Member] | Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2022-02 [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit Loss, balance at beginning of period		(2)
Allowance for credit Loss, balance at end of period			(2)
Total Other Loans [Member] | Personal Loans [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance | Accounting Standards Update 2022-02 [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit Loss, balance at beginning of period		593
Allowance for credit Loss, balance at end of period			593
Total Other Loans [Member] | Other Loans [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit Loss, balance at beginning of period		57	44	38
Provision for credit losses	[1]	28	13	6
Charge-offs		(1)	0	0
Recoveries		0	0	0
Net charge-offs		(1)	0	0
Allowance for credit Loss, balance at end of period		84	57	$ 44
Total Other Loans [Member] | Other Loans [Member] | Cumulative Effect, Period of Adoption, Adjustment | Accounting Standards Update 2022-02 [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit Loss, balance at beginning of period		0
Allowance for credit Loss, balance at end of period			0
Total Other Loans [Member] | Other Loans [Member] | Cumulative Effect, Period of Adoption, Adjusted Balance | Accounting Standards Update 2022-02 [Member]
Allowance for Loan and Lease Losses [Roll Forward]
Allowance for credit Loss, balance at beginning of period		$ 57
Allowance for credit Loss, balance at end of period			$ 57
[1] Excludes a $1 million, $10 million and $9 million adjustment to the liability for expected credit losses on unfunded commitments for the years ended December 31, 2023, 2022 and 2021, respectively, as the liability is recorded in accrued expenses and other liabilities in the Company’s consolidated statements of financial condition.

Loan Receivables (Schedule of N

Loan Receivables (Schedule of Net Charge-offs of Interest and Fee Revenues on Loan Receivables) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest and fees accrued subsequently charged off, net of recoveries (recorded as a reduction of interest income)	$ 681	$ 303	$ 286
Fees accrued subsequently charged off, net of recoveries (recorded as a reduction to other income)	$ 192	$ 100	$ 75

Loan Receivables (Schedule of G

Loan Receivables (Schedule of Gross Principal Charge-offs) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Allowance for Credit Loss, Writeoff	$ 4,927	$ 2,702	$ 2,534
Credit Card Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Revolving, Writeoff	4,481
Financing Receivable, Allowance for Credit Loss, Writeoff	4,481	2,417	2,255
Total Other Loans [Member] | Private Student Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff	0
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff	4
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff	17
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff	21
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff	24
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff	89
Financing Receivable, Allowance for Credit Loss, Writeoff	155	126	89
Total Other Loans [Member] | Personal Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Financing Receivable, Year One, Originated, Current Fiscal Year, Writeoff	19
Financing Receivable, Year Two, Originated, Fiscal Year before Current Fiscal Year, Writeoff	119
Financing Receivable, Year Three, Originated, Two Years before Current Fiscal Year, Writeoff	81
Financing Receivable, Year Four, Originated, Three Years before Current Fiscal Year, Writeoff	33
Financing Receivable, Year Five, Originated, Four Years before Current Fiscal Year, Writeoff	24
Financing Receivable, Originated, More than Five Years before Current Fiscal Year, Writeoff	14
Financing Receivable, Allowance for Credit Loss, Writeoff	$ 290	$ 159	$ 190

Loan Receivables (Schedule of_3

Loan Receivables (Schedule of Delinquent and Non-Accruing Loans) (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Financing Receivable, Past Due [Line Items]
Loan receivables		$ 128,409	$ 112,120
Loan receivables, 90 or more days delinquent and accruing		1,990	1,065
Loan receivables, total non-accruing	[1]	269	214
30-89 Days Delinquent [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables		2,382	1,477
90 or More Days Delinquent [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables		2,045	1,101
Financial Asset, Past Due
Financing Receivable, Past Due [Line Items]
Loan receivables		4,427	2,578
Credit Card Loans [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables	[2],[3]	102,259	90,113
Loan receivables, 90 or more days delinquent and accruing		1,881	1,003
Loan receivables, total non-accruing	[1]	197	176
Estimated gross interest income that would have been recorded based on original terms		37	23	$ 28
Credit Card Loans [Member] | 30-89 Days Delinquent [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables, credit card		2,038	1,250
Credit Card Loans [Member] | 90 or More Days Delinquent [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables, credit card		1,917	1,028
Credit Card Loans [Member] | Financial Asset, Past Due
Financing Receivable, Past Due [Line Items]
Loan receivables, credit card		3,955	2,278
Total Other Loans [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables	[4]	26,150	22,007
Loan receivables, 90 or more days delinquent and accruing		109	62
Loan receivables, total non-accruing	[1]	72	38
Total Other Loans [Member] | 30-89 Days Delinquent [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables		344	227
Total Other Loans [Member] | 90 or More Days Delinquent [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables		128	73
Total Other Loans [Member] | Financial Asset, Past Due
Financing Receivable, Past Due [Line Items]
Loan receivables		472	300
Total Other Loans [Member] | Private Student Loans [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables	[4],[5]	10,352	10,308
Loan receivables, 90 or more days delinquent and accruing		69	45
Loan receivables, total non-accruing	[1]	8	8
Total Other Loans [Member] | Private Student Loans [Member] | 30-89 Days Delinquent [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables	[6]	201	167
Total Other Loans [Member] | Private Student Loans [Member] | 90 or More Days Delinquent [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables	[6]	70	45
Total Other Loans [Member] | Private Student Loans [Member] | Financial Asset, Past Due
Financing Receivable, Past Due [Line Items]
Loan receivables		271	212
Total Other Loans [Member] | Personal Loans [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables	[4]	9,852	7,998
Loan receivables, 90 or more days delinquent and accruing		37	16
Loan receivables, total non-accruing	[1]	11	7
Total Other Loans [Member] | Personal Loans [Member] | 30-89 Days Delinquent [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables		104	47
Total Other Loans [Member] | Personal Loans [Member] | 90 or More Days Delinquent [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables		39	16
Total Other Loans [Member] | Personal Loans [Member] | Financial Asset, Past Due
Financing Receivable, Past Due [Line Items]
Loan receivables		143	63
Total Other Loans [Member] | Other Loans [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables	[4]	5,946	3,701
Loan receivables, 90 or more days delinquent and accruing		3	1
Loan receivables, total non-accruing	[1]	53	23
Total Other Loans [Member] | Other Loans [Member] | 30-89 Days Delinquent [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables		39	13
Total Other Loans [Member] | Other Loans [Member] | 90 or More Days Delinquent [Member]
Financing Receivable, Past Due [Line Items]
Loan receivables		19	12
Total Other Loans [Member] | Other Loans [Member] | Financial Asset, Past Due
Financing Receivable, Past Due [Line Items]
Loan receivables		$ 58	$ 25
[1] The Company estimates that the gross interest income that would have been recorded under the original terms of non-accruing credit card loans was $37 million, $23 million and $28 million for the years ended December 31, 2023, 2022 and 2021, respectively. The Company does not separately track the amount of gross interest income that would have been recorded under the original terms of loans. Instead, the Company estimated this amount based on customers’ current balances and most recent interest rates. Amounts include carrying values of $14.8 billion and $13.5 billion underlying investors’ interest in trust debt at December 31, 2023 and 2022, respectively, and $15.6 billion and $12.2 billion in seller’s interest at December 31, 2023 and 2022, respectively. See Note 5: Credit Card and Private Student Loan Securitization Activities for additional information. Unbilled accrued interest receivable on credit card loans, which is presented as part of other assets in the Company’s consolidated statements of financial condition, was $753 million and $611 million at December 31, 2023 and 2022, respectively. Accrued interest receivable on private student, personal and other loans, which is presented as part of other assets in the Company’s consolidated statements of financial condition, was $522 million, $69 million and $21 million, respectively, at December 31, 2023 and $468 million, $49 million and $11 million, respectively, at December 31, 2022. Private student loans in repayment were $6.3 billion and $6.0 billion at December 31, 2023 and 2022, respectively. Private student loans may include a deferment period, during which borrowers are not required to make payments while enrolled in school at least half time as determined by the school. During a deferment period, these loans do not advance into delinquency.

Loan Receivables (Schedule of_4

Loan Receivables (Schedule of Loans That Entered a Modification Program During the Period) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Credit Card Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified in Period, Amount	$ 2,330
Financing Receivable, Modified in Period, to Total Financing Receivables, Percentage	2.28%
Financing Receivable, Revolving, Converted to Term Loan During Period	$ 408	$ 322
Credit Card Loans [Member] | Contractual Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified in Period, Amount	2,330
Total Other Loans [Member] | Private Student Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified in Period, Amount	$ 176
Financing Receivable, Modified in Period, to Total Financing Receivables, Percentage	1.70%
Total Other Loans [Member] | Private Student Loans [Member] | Payment Deferral
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified in Period, Amount	$ 33
Total Other Loans [Member] | Private Student Loans [Member] | InterestRateReductionandPaymentDeferral
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified in Period, Amount	143
Total Other Loans [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified in Period, Amount	$ 133
Financing Receivable, Modified in Period, to Total Financing Receivables, Percentage	1.35%
Total Other Loans [Member] | Personal Loans [Member] | Payment Deferral
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified in Period, Amount	$ 10
Total Other Loans [Member] | Personal Loans [Member] | InterestRateReductionandPaymentDeferral
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified in Period, Amount	65
Total Other Loans [Member] | Personal Loans [Member] | Extended Maturity
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified in Period, Amount	29
Total Other Loans [Member] | Personal Loans [Member] | Extended Maturity and Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified in Period, Amount	$ 29

Loan Receivables (Schedule of_5

Loan Receivables (Schedule of Loan Modification Effects) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Credit Card Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified, Weighted Average Interest Rate Decrease from Modification	13.85%
Financing Receivable, Modified in Period, Accrued Interest, Amount	$ 117	$ 29
Credit Card Loans [Member] | Principal Forgiveness
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Excluding Accrued Interest, Modified in Period, Amount	$ 121
Total Other Loans [Member] | Private Student Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified, Weighted Average Interest Rate Decrease from Modification	8.91%
Loan Modification Program Maximum Consecutive Months	6 months
Temporary Loan Modification Common Maximum	12 months
Total Other Loans [Member] | Private Student Loans [Member] | Minimum [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment delay duration (in months)	6 months
Total Other Loans [Member] | Private Student Loans [Member] | Maximum [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment delay duration (in months)	12 months
Total Other Loans [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified, Weighted Average Interest Rate Decrease from Modification	12.28%
Financing Receivable, Modified, Weighted Average Term Increase from Modification	39 months
Total Other Loans [Member] | Personal Loans [Member] | Minimum [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment delay duration (in months)	6 months
Total Other Loans [Member] | Personal Loans [Member] | Maximum [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Payment delay duration (in months)	12 months
Total Other Loans [Member] | Principal Forgiveness | Private Student Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Excluding Accrued Interest, Modified in Period, Amount	$ 0
Total Other Loans [Member] | Principal Forgiveness | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Excluding Accrued Interest, Modified in Period, Amount	$ 0

Loan Receivables (Schedule of_6

Loan Receivables (Schedule of Delinquent Loans Receivable Aging) (Details) $ in Millions	Dec. 31, 2023 USD ($)
Financial Asset, 1 to 29 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified, Accumulated	$ 2,138
30-89 Days Delinquent [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified, Accumulated	290
90 or More Days Delinquent [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified, Accumulated	208
Credit Card Loans [Member] | Financial Asset, 1 to 29 Days Past Due
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified, Accumulated	1,882
Credit Card Loans [Member] | 30-89 Days Delinquent [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified, Accumulated	252
Credit Card Loans [Member] | 90 or More Days Delinquent [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified, Accumulated	196
Total Other Loans [Member] | Financial Asset, 1 to 29 Days Past Due | Private Student Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified, Accumulated	147
Total Other Loans [Member] | Financial Asset, 1 to 29 Days Past Due | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified, Accumulated	109
Total Other Loans [Member] | 30-89 Days Delinquent [Member] | Private Student Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified, Accumulated	18
Total Other Loans [Member] | 30-89 Days Delinquent [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified, Accumulated	20
Total Other Loans [Member] | 90 or More Days Delinquent [Member] | Private Student Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified, Accumulated	8
Total Other Loans [Member] | 90 or More Days Delinquent [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Financing Receivable, Modified, Accumulated	$ 4

Loan Receivables (Schedule of F

Loan Receivables (Schedule of Financing Receivable, Modified, Subsequent Default) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)
Carrying Value [Member] | Credit Card Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Defaulted Amount	$ 383
Carrying Value [Member] | Credit Card Loans [Member] | Contractual Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Defaulted Amount	383
Carrying Value [Member] | Total Other Loans [Member] | Private Student Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Defaulted Amount	25
Carrying Value [Member] | Total Other Loans [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Defaulted Amount	23
Carrying Value [Member] | Total Other Loans [Member] | Payment Deferral | Private Student Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Defaulted Amount	5
Carrying Value [Member] | Total Other Loans [Member] | Payment Deferral | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Defaulted Amount	2
Carrying Value [Member] | Total Other Loans [Member] | InterestRateReductionandPaymentDeferral | Private Student Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Defaulted Amount	20
Carrying Value [Member] | Total Other Loans [Member] | InterestRateReductionandPaymentDeferral | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Defaulted Amount	10
Carrying Value [Member] | Total Other Loans [Member] | Extended Maturity | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Defaulted Amount	4
Carrying Value [Member] | Total Other Loans [Member] | Extended Maturity and Interest Rate Reduction | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Defaulted Amount	7
Credit Card Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Defaulted Amount	210
Credit Card Loans [Member] | Contractual Interest Rate Reduction
Financing Receivable, Troubled Debt Restructuring [Line Items]
Defaulted Amount	210
Total Other Loans [Member] | Private Student Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Defaulted Amount	21
Total Other Loans [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Defaulted Amount	8
Total Other Loans [Member] | Payment Deferral | Private Student Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Defaulted Amount	4
Total Other Loans [Member] | Payment Deferral | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Defaulted Amount	1
Total Other Loans [Member] | InterestRateReductionandPaymentDeferral | Private Student Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Defaulted Amount	17
Total Other Loans [Member] | InterestRateReductionandPaymentDeferral | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Defaulted Amount	2
Total Other Loans [Member] | Extended Maturity | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Defaulted Amount	2
Total Other Loans [Member] | Extended Maturity and Interest Rate Reduction | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Defaulted Amount	$ 3

Loan Receivables (Schedule of A

Loan Receivables (Schedule of Accounts that Entered a Troubled Debt Restructuring Program) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($) accounts
Credit Card Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Accounts that entered a loan modification program during the period, number of accounts | accounts		237,339
Accounts that entered a loan modification program during the period, balances		$ 1,545
Financing Receivable, Revolving, Converted to Term Loan During Period	$ 408	$ 322
Total Other Loans [Member] | Private Student Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Accounts that entered a loan modification program during the period, number of accounts | accounts		6,841
Accounts that entered a loan modification program during the period, balances		$ 127
Total Other Loans [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Accounts that entered a loan modification program during the period, number of accounts | accounts		6,303
Accounts that entered a loan modification program during the period, balances		$ 86

Loan Receivables (Schedule of T

Loan Receivables (Schedule of Troubled Debt Restructurings That Subsequently Defaulted) (Details)	12 Months Ended
	Dec. 31, 2022 USD ($) accounts
Financing Receivable, Troubled Debt Restructuring [Line Items]
Amount of missed payments after which a customer defaults from a modification program (in payments)	2
Delinquency days to default (in days)	60 days
Credit Card Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Troubled debt restructurings that subsequently defaulted, number of accounts | accounts	28,231
Troubled debt restructurings that subsequently defaulted, aggregated outstanding balances upon default	$ 141,000,000
Total Other Loans [Member] | Private Student Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Troubled debt restructurings that subsequently defaulted, number of accounts | accounts	1,145
Troubled debt restructurings that subsequently defaulted, aggregated outstanding balances upon default	$ 22,000,000
Total Other Loans [Member] | Personal Loans [Member]
Financing Receivable, Troubled Debt Restructuring [Line Items]
Troubled debt restructurings that subsequently defaulted, number of accounts | accounts	1,140
Troubled debt restructurings that subsequently defaulted, aggregated outstanding balances upon default	$ 20,000,000

Loan Receivables (Schedule of_7

Loan Receivables (Schedule of Geographic Distribution of Loan Receivables) (Details) - USD ($) $ in Millions		Dec. 31, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 128,409	$ 112,120
Credit Card Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables	[1],[2]	$ 102,259	$ 90,113
Percentage of total loan receivables (in percent)		100%	100%
Credit Card Loans [Member] | Texas
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 9,150	$ 7,996
Percentage of total loan receivables (in percent)		8.90%	8.90%
Credit Card Loans [Member] | California
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 9,078	$ 7,888
Percentage of total loan receivables (in percent)		8.90%	8.70%
Credit Card Loans [Member] | Florida
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 7,496	$ 6,465
Percentage of total loan receivables (in percent)		7.30%	7.20%
Credit Card Loans [Member] | New York
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 6,538	$ 5,895
Percentage of total loan receivables (in percent)		6.40%	6.50%
Credit Card Loans [Member] | Illinois
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 5,012	$ 4,528
Percentage of total loan receivables (in percent)		4.90%	5%
Credit Card Loans [Member] | Pennsylvania
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 4,985	$ 4,484
Percentage of total loan receivables (in percent)		4.90%	5%
Credit Card Loans [Member] | Ohio
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 4,188	$ 3,759
Percentage of total loan receivables (in percent)		4.10%	4.20%
Credit Card Loans [Member] | New Jersey
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 3,499	$ 3,127
Percentage of total loan receivables (in percent)		3.40%	3.50%
Credit Card Loans [Member] | Georgia
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 3,294	$ 2,849
Percentage of total loan receivables (in percent)		3.20%	3.20%
Credit Card Loans [Member] | Michigan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 2,821	$ 2,521
Percentage of total loan receivables (in percent)		2.80%	2.80%
Credit Card Loans [Member] | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 46,198	$ 40,601
Percentage of total loan receivables (in percent)		45.20%	45%
Total Other Loans [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables	[3]	$ 26,150	$ 22,007
Percentage of total loan receivables (in percent)		100%	100%
Total Other Loans [Member] | Texas
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 1,987	$ 1,595
Percentage of total loan receivables (in percent)		7.60%	7.20%
Total Other Loans [Member] | California
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 2,449	$ 2,015
Percentage of total loan receivables (in percent)		9.40%	9.20%
Total Other Loans [Member] | Florida
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 1,607	$ 1,248
Percentage of total loan receivables (in percent)		6.10%	5.70%
Total Other Loans [Member] | New York
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 2,074	$ 1,900
Percentage of total loan receivables (in percent)		7.90%	8.60%
Total Other Loans [Member] | Illinois
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 1,405	$ 1,247
Percentage of total loan receivables (in percent)		5.40%	5.70%
Total Other Loans [Member] | Pennsylvania
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 1,567	$ 1,431
Percentage of total loan receivables (in percent)		6%	6.50%
Total Other Loans [Member] | Ohio
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 975	$ 849
Percentage of total loan receivables (in percent)		3.70%	3.90%
Total Other Loans [Member] | New Jersey
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 1,285	$ 1,114
Percentage of total loan receivables (in percent)		4.90%	5.10%
Total Other Loans [Member] | Georgia
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 851	$ 647
Percentage of total loan receivables (in percent)		3.30%	3%
Total Other Loans [Member] | Other
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 11,172	$ 9,307
Percentage of total loan receivables (in percent)		42.70%	42.30%
Total Other Loans [Member] | VIRGINIA
Accounts, Notes, Loans and Financing Receivable [Line Items]
Loan receivables		$ 778	$ 654
Percentage of total loan receivables (in percent)		3%	2.80%
[1] Amounts include carrying values of $14.8 billion and $13.5 billion underlying investors’ interest in trust debt at December 31, 2023 and 2022, respectively, and $15.6 billion and $12.2 billion in seller’s interest at December 31, 2023 and 2022, respectively. See Note 5: Credit Card and Private Student Loan Securitization Activities for additional information. Unbilled accrued interest receivable on credit card loans, which is presented as part of other assets in the Company’s consolidated statements of financial condition, was $753 million and $611 million at December 31, 2023 and 2022, respectively. Accrued interest receivable on private student, personal and other loans, which is presented as part of other assets in the Company’s consolidated statements of financial condition, was $522 million, $69 million and $21 million, respectively, at December 31, 2023 and $468 million, $49 million and $11 million, respectively, at December 31, 2022.

Credit Card and Private Stude_3

Credit Card and Private Student Loan Securitization Activities (Narrative) (Details)	12 Months Ended
	Dec. 31, 2023 classes
Variable Interest Entity, Primary Beneficiary [Member] | Discover Card Execution Note Trust [Member] | Credit Card Securitization Trusts [Member]
Variable Interest Entity [Line Items]
Number of classes of securities in debt structure (in classes)	4

Credit Card and Private Stude_4

Credit Card and Private Student Loan Securitization Activities (Schedule of Restricted Credit Card Securitized Assets) (Details) - USD ($) $ in Millions		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Variable Interest Entity [Line Items]
Restricted cash		$ 43	$ 41	$ 2,582
Loan receivables		128,409	112,120
Allowance for credit losses		(9,283)	(7,374)	$ (6,822)	$ (8,226)
Net loan receivables		119,126	104,746
Other assets		5,667	4,597
Total assets		151,522	131,706
Variable Interest Entity, Primary Beneficiary [Member]
Variable Interest Entity [Line Items]
Restricted cash		43	41
Loan receivables		30,590	25,937
Allowance for credit losses		(1,347)	(1,152)
Other assets		3	3
Variable Interest Entity, Primary Beneficiary [Member] | Credit Card Securitization Trusts [Member]
Variable Interest Entity [Line Items]
Restricted cash		36	33
Investors’ interests held by third-party investors		11,725	10,200
Investors’ interests held by wholly-owned subsidiaries of Discover Bank		3,117	3,341
Seller’s interest		15,598	12,220
Loan receivables	[1]	30,440	25,761
Allowance for credit losses	[1]	(1,347)	(1,152)
Net loan receivables		29,093	24,609
Other assets		2	2
Total assets		$ 29,131	$ 24,644
[1] The Company maintains its allowance for credit losses at an amount equal to lifetime expected credit losses associated with all loan receivables, which includes all loan receivables in the trusts. Therefore, the credit risk associated with the transferred receivables is fully reflected on the Company’s statements of financial condition in accordance with GAAP.

Premises and Equipment (Narrati

Premises and Equipment (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 74	$ 80	$ 86
Amortization expense on capitalized software	$ 113	$ 114	$ 103

Premises and Equipment (Schedul

Premises and Equipment (Schedule of Premises and Equipment) (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	$ 3,102	$ 2,860
Premises and equipment, net	1,091	1,003
Land [Member]
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	37	37
Buildings and Improvements [Member]
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	605	587
Furniture, Fixtures and Equipment [Member]
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	1,155	1,111
Software [Member]
Property, Plant and Equipment [Line Items]
Premises and equipment, gross	1,305	1,125
Less: accumulated depreciation and accumulated amortization of software	(602)	(518)
Premises and Equipment Excluding Software [Member]
Property, Plant and Equipment [Line Items]
Less: accumulated depreciation and accumulated amortization of software	$ (1,409)	$ (1,339)

Goodwill and Intangible Assets

Goodwill and Intangible Assets (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Goodwill [Line Items]
Goodwill	$ 255	$ 255
Payment Services [Member]
Goodwill [Line Items]
Goodwill	255	255
Goodwill impairment charge	$ 0	$ 0

Deposits (Narrative) (Details)

Deposits (Narrative) (Details) - USD ($) $ in Billions	Dec. 31, 2023	Dec. 31, 2022
Deposits [Abstract]
Deposit Liability, Uninsured	$ 7	$ 8.9

Deposits (Schedule of Uninsured

Deposits (Schedule of Uninsured Certificates of Deposits) (Details) $ in Millions	Dec. 31, 2023 USD ($)
Deposits [Abstract]
Three months or less	$ 146
Over three months through six months	73
Over six months through twelve months	368
Over twelve months	293
Total certificate of deposits above the FDIC-insurance limit	$ 880

Deposits (Schedule of Certifica

Deposits (Schedule of Certificates of Deposit Maturities) (Details) $ in Millions	Dec. 31, 2023 USD ($)
Deposits [Abstract]
2024	$ 25,561
2025	8,153
2026	4,129
2027	4,347
2028	2,144
Thereafter	906
Total	$ 45,240

Long-Term Borrowings (Narrative

Long-Term Borrowings (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Federal Home Loan Bank, Advances, General Debt Obligations, Maximum Amount Available	$ 3,600	$ 2,200
Federal Home Loan Bank advances	1,000	525
Discover Card Master Trust I and Discover Card Execution Note Trust [Member] | Securitized Debt [Member]
Debt Instrument [Line Items]
Total commitment of secured credit facilities	3,500	3,500
Long-Term Line of Credit	$ 750	$ 0

Long-Term Borrowings (Schedule

Long-Term Borrowings (Schedule of Long-Term Borrowings and Weighted Average Interest Rates) (Details) - USD ($) $ in Millions		3 Months Ended	12 Months Ended
		Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Long-term borrowings		$ 20,581	$ 20,581	$ 20,108
Parent Company [Member]
Debt Instrument [Line Items]
Long-term borrowings		4,469	4,469	3,487
Securitized Debt [Member] | Discover Card Master Trust I and Discover Card Execution Note Trust [Member]
Debt Instrument [Line Items]
Long-term borrowings		$ 10,928	$ 10,928	10,175
Securitized Debt [Member] | Discover Card Master Trust I and Discover Card Execution Note Trust [Member] | Fixed-Rate Asset-Backed Securities [Member]
Debt Instrument [Line Items]
Weighted-average interest rate	[1]	3.17%	3.17%
Long-term borrowings	[1]	$ 10,003	$ 10,003	8,401
Securitized Debt [Member] | Discover Card Master Trust I and Discover Card Execution Note Trust [Member] | Fixed-Rate Asset-Backed Securities [Member] | Minimum [Member]
Debt Instrument [Line Items]
Interest rate	[1]	0.58%	0.58%
Securitized Debt [Member] | Discover Card Master Trust I and Discover Card Execution Note Trust [Member] | Fixed-Rate Asset-Backed Securities [Member] | Maximum [Member]
Debt Instrument [Line Items]
Interest rate	[1]	5.03%	5.03%
Securitized Debt [Member] | Discover Card Master Trust I and Discover Card Execution Note Trust [Member] | Floating-Rate Asset-Backed Securities [Member]
Debt Instrument [Line Items]
Weighted-average interest rate	[2]	6.08%	6.08%
Long-term borrowings	[2]	$ 925	$ 925	1,774
Securitized Debt [Member] | Discover Card Master Trust I and Discover Card Execution Note Trust [Member] | Floating-Rate Asset-Backed Securities [Member] | 1-Month SOFR [Member]
Debt Instrument [Line Items]
Interest rate terms			1-month Term SOFR + 0.11448% Tenor Spread Adjustment + 60 basis points
Securitized Debt [Member] | Discover Card Master Trust I and Discover Card Execution Note Trust [Member] | Floating-Rate Asset-Backed Securities [Member] | Minimum [Member]
Debt Instrument [Line Items]
Interest rate	[2]	6.08%	6.08%
Securitized Debt [Member] | Discover Card Master Trust I and Discover Card Execution Note Trust [Member] | Floating-Rate Asset-Backed Securities [Member] | Minimum [Member] | 1-Month SOFR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate			0.60%
Securitized Debt [Member] | Discover Card Master Trust I and Discover Card Execution Note Trust [Member] | Floating-Rate Asset-Backed Securities [Member] | Maximum [Member]
Debt Instrument [Line Items]
Interest rate		6.08%	6.08%
Securitized Debt [Member] | Student Loan Trust [Member]
Debt Instrument [Line Items]
Long-term borrowings		$ 65	$ 65	84
Securitized Debt [Member] | Student Loan Trust [Member] | Floating-Rate Asset-Backed Securities [Member]
Debt Instrument [Line Items]
Weighted-average interest rate	[3],[4]	9.50%	9.50%
Long-term borrowings	[3],[4]	$ 65	$ 65	84
Securitized Debt [Member] | Student Loan Trust [Member] | Floating-Rate Asset-Backed Securities [Member] | Prime Rate [Member]
Debt Instrument [Line Items]
Interest rate terms			Prime rate + 100 basis points
Basis spread on variable rate			1%
Securitized Debt [Member] | Student Loan Trust [Member] | Floating-Rate Asset-Backed Securities [Member] | Minimum [Member]
Debt Instrument [Line Items]
Interest rate	[4]	9.50%	9.50%
Securitized Debt [Member] | Student Loan Trust [Member] | Floating-Rate Asset-Backed Securities [Member] | Maximum [Member]
Debt Instrument [Line Items]
Interest rate		9.50%	9.50%
Securitized Debt [Member] | Variable Interest Entity, Primary Beneficiary [Member]
Debt Instrument [Line Items]
Long-term borrowings		$ 10,993	$ 10,993	10,259
Securitized Debt [Member] | Discover Bank [Member] | Floating-Rate Asset-Backed Securities [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Interest rate terms		SOFR plus a spread ranging from 16 to 26 basis points
Corporate Debt Securities [Member] | Parent Company [Member] | Fixed-Rate Senior Notes [Member]
Debt Instrument [Line Items]
Weighted-average interest rate		4.68%	4.68%
Long-term borrowings		$ 3,336	$ 3,336	3,333
Corporate Debt Securities [Member] | Parent Company [Member] | Fixed-Rate Senior Notes [Member] | Minimum [Member]
Debt Instrument [Line Items]
Interest rate		3.75%	3.75%
Corporate Debt Securities [Member] | Parent Company [Member] | Fixed-Rate Senior Notes [Member] | Maximum [Member]
Debt Instrument [Line Items]
Interest rate		6.70%	6.70%
Corporate Debt Securities [Member] | Parent Company [Member] | Fixed Rate Retail Notes [Member]
Debt Instrument [Line Items]
Weighted-average interest rate		3.82%	3.82%
Long-term borrowings		$ 140	$ 140	154
Corporate Debt Securities [Member] | Parent Company [Member] | Fixed Rate Retail Notes [Member] | Minimum [Member]
Debt Instrument [Line Items]
Interest rate		3.25%	3.25%
Corporate Debt Securities [Member] | Parent Company [Member] | Fixed Rate Retail Notes [Member] | Maximum [Member]
Debt Instrument [Line Items]
Interest rate		4.40%	4.40%
Corporate Debt Securities [Member] | Parent Company [Member] | Fixed to Floating-Rate Senior Notes
Debt Instrument [Line Items]
Weighted-average interest rate	[5]	7.96%	7.96%
Long-term borrowings	[5]	$ 993	$ 993	0
Corporate Debt Securities [Member] | Parent Company [Member] | Fixed to Floating-Rate Senior Notes | Minimum [Member]
Debt Instrument [Line Items]
Interest rate		7.96%	7.96%
Corporate Debt Securities [Member] | Parent Company [Member] | Fixed to Floating-Rate Senior Notes | Maximum [Member]
Debt Instrument [Line Items]
Interest rate		7.96%	7.96%
Corporate Debt Securities [Member] | Parent | Fixed to Floating-Rate Senior Notes | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Interest rate terms		SOFR + 3.370%
Senior Notes [Member] | Discover Bank [Member] | Fixed-Rate Senior Bank Notes [Member]
Debt Instrument [Line Items]
Weighted-average interest rate	[1]	3.53%	3.53%
Long-term borrowings	[1]	$ 3,571	$ 3,571	5,348
Senior Notes [Member] | Discover Bank [Member] | Fixed-Rate Senior Bank Notes [Member] | Minimum [Member]
Debt Instrument [Line Items]
Interest rate	[1]	2.45%	2.45%
Senior Notes [Member] | Discover Bank [Member] | Fixed-Rate Senior Bank Notes [Member] | Maximum [Member]
Debt Instrument [Line Items]
Interest rate	[1]	4.65%	4.65%
Subordinated Debt [Member] | Discover Bank [Member] | Fixed-Rate Subordinated Bank Notes [Member]
Debt Instrument [Line Items]
Weighted-average interest rate	[1]	5.97%	5.97%
Long-term borrowings	[1]	$ 500	$ 500	489
Subordinated Debt [Member] | Discover Bank [Member] | Fixed-Rate Subordinated Bank Notes [Member] | Minimum [Member]
Debt Instrument [Line Items]
Interest rate	[1]	5.97%	5.97%
Subordinated Debt [Member] | Discover Bank [Member] | Fixed-Rate Subordinated Bank Notes [Member] | Maximum [Member]
Debt Instrument [Line Items]
Interest rate	[1]	5.97%	5.97%
Federal Home Loan Bank Advances | Discover Bank [Member] | Minimum [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Basis spread on variable rate		0.16%
Federal Home Loan Bank Advances | Discover Bank [Member] | Maximum [Member] | Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Debt Instrument [Line Items]
Basis spread on variable rate		0.26%
Federal Home Loan Bank Advances | Discover Bank [Member] | FixedRateFHLBAdvance
Debt Instrument [Line Items]
Weighted-average interest rate		4.82%	4.82%
Long-term borrowings		$ 523	$ 523	0
Federal Home Loan Bank Advances | Discover Bank [Member] | FixedRateFHLBAdvance | Minimum [Member]
Debt Instrument [Line Items]
Interest rate		4.77%	4.77%
Federal Home Loan Bank Advances | Discover Bank [Member] | FixedRateFHLBAdvance | Maximum [Member]
Debt Instrument [Line Items]
Interest rate		4.82%	4.82%
Federal Home Loan Bank Advances | Discover Bank [Member] | Floating Rate FHLB Advance
Debt Instrument [Line Items]
Weighted-average interest rate	[6]	5.65%	5.65%
Long-term borrowings	[6]	$ 525	$ 525	$ 525
Federal Home Loan Bank Advances | Discover Bank [Member] | Floating Rate FHLB Advance | Minimum [Member]
Debt Instrument [Line Items]
Interest rate		5.55%	5.55%
Federal Home Loan Bank Advances | Discover Bank [Member] | Floating Rate FHLB Advance | Maximum [Member]
Debt Instrument [Line Items]
Interest rate		5.65%	5.65%
[1]The Company uses interest rate swaps to hedge portions of these long-term borrowings against changes in fair value attributable to changes in the applicable benchmark interest rates. The use of these interest rate swaps impacts the carrying value of the debt. See Note 21: Derivatives and Hedging Activities.[2] DCENT floating-rate asset-backed securities include issuances with the following interest rate terms: 1-month Term SOFR + 0.11448% Tenor Spread Adjustment + 60 basis points as of December 31, 2023. Repayment of this debt is dependent upon the timing of principal and interest payments on the underlying private student loans. The date shown represents the final maturity date. The fixed to floating-rate senior notes include a rate reset on November 2, 2033, to a floating rate based on compounded SOFR + 3.370%.

Long-Term Borrowings (Schedul_2

Long-Term Borrowings (Schedule of Long-Term Borrowings Maturities) (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Debt Disclosure [Abstract]
2024	$ 4,251
2025	6,146
2026	4,912
2027	1,001
2028	1,439
Thereafter	2,832
Total	$ 20,581	$ 20,108

Stock-Based Compensation Plan_2

Stock-Based Compensation Plans (Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) plans shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of share-based compensation plans (in plans) | plans	2
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost | $	$ 46,000
Weighted average period of recognizing unrecognized compensation cost (in years)	10 months 9 days
Performance Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total unrecognized compensation cost | $	$ 7,000
Weighted average period of recognizing unrecognized compensation cost (in years)	1 year 21 days
Award performance period (in years)	3 years
Award vesting period (in years)	3 years
Performance Stock Units [Member] | Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Maximum number of shares per performance stock unit | shares	1.5
Omnibus Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total number of shares available for grant (in shares) | shares	18,000,000
Directors Compensation Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares used in calculation of the total number of units available for grant (in shares) | shares	1,000,000
Annual awards calculation | $	$ 170
Directors Compensation Plan [Member] | Share-based Payment Arrangement, Tranche One [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of annual awards that shall vest (in percent)	100%

Stock-Based Compensation Plan_3

Stock-Based Compensation Plans (Schedule of Stock-Based Compensation Plans Compensation Cost, Net of Forfeitures) (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost, net of forfeitures		$ 74	$ 89	$ 103
Income tax benefit from compensation cost, net of forfeitures		18	16	15
Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost, net of forfeitures		69	58	46
Performance Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation cost, net of forfeitures	[1]	$ 5	$ 31	57
Share-based payment arrangement, plan modification, incremental cost				$ 1
[1] Total PSU expense for the year ended December 31, 2021, includes an incremental $1 million, representing a modification to the 2019 PSU award. The nature of the modification was to adjust the payout to compensate for the 2020 current expected credit loss (“CECL”) adoption impact on earnings per share (“EPS”).

Stock-Based Compensation Plan_4

Stock-Based Compensation Plans (Schedule of Restricted Stock Unit Activity) (Details) - Restricted Stock Units [Member] - USD ($) $ / shares in Units, $ in Millions		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options [Roll Forward]
Stock-based compensation, balance at beginning of period, number of units (in units)		1,938,283
Stock-based compensation, granted, number of units (in units)		728,993
Stock-based compensation, conversions to common stock, number of units (in units)		(626,780)
Stock-based compensation, forfeited, number of units (in units)		(96,379)
Stock-based compensation, balance at end of period, number of units (in units)		1,944,117	1,938,283
Stock-based compensation, vested and convertible, number of units		664,962
Stock-based compensation, weighted average remaining contractual term (in years)		10 months 6 days
Stock-based compensation, vested and convertible, weighted average remaining contractual term (in years)		0 years
Stock-based compensation, aggregate intrinsic value		$ 219	$ 190
Stock-based compensation, vested and convertible, aggregate intrinsic value		$ 75
Unvested stock-based compensation, balance at beginning of period, number of units (in units)	[1]	1,059,683
Unvested stock-based compensation, granted, number of units (in units)		728,993
Unvested stock-based compensation, vested in period, number of units (in units)		(534,603)
Unvested stock-based compensation, forfeited, number of units (in units)		(96,379)
Unvested stock-based compensation, balance at end of period, number of units (in units)	[1]	1,157,694	1,059,683
Unvested stock-based compensation, balance at beginning of period, weighted-average grant-date fair value	[1]	$ 107.47
Unvested stock-based compensation, granted, weighted-average grant-date fair value		104.20	$ 116.50	$ 101.47
Unvested stock-based compensation, vested in period, weighted-average grant-date fair value		103.95
Unvested stock-based compensation, forfeited, weighted-average grant-date fair value		109.43
Unvested stock-based compensation, balance at end of period, weighted-average grant-date fair value	[1]	$ 106.87	$ 107.47
[1] Unvested RSUs represent awards where recipients have yet to satisfy either explicit vesting terms or retirement-eligibility requirements.

Stock-Based Compensation Plan_5

Stock-Based Compensation Plans (Schedule of Intrinsic Value of RSUs Converted to Common Stock and Grant Date Fair Value of RSUs Vested) (Details) - Restricted Stock Units [Member] - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Intrinsic value of stock units converted to common stock	$ 68	$ 59	$ 62
Grant-date fair value of stock units vested	$ 56	$ 41	$ 47
Stock-based compensation, granted, weighted-average grant-date fair value	$ 104.20	$ 116.50	$ 101.47

Stock-Based Compensation Plan_6

Stock-Based Compensation Plans (Schedule of Performance Stock Unit Activity) (Details) - Performance Stock Units [Member] - USD ($) $ / shares in Units, $ in Millions		12 Months Ended
		Dec. 31, 2023		Dec. 31, 2022	Dec. 31, 2021
Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options [Roll Forward]
Stock-based compensation, balance at beginning of period, number of units (in units)	[1]	716,472
Stock-based compensation, granted, number of units (in units)		384,085
Stock-based compensation, conversions to common stock, number of units (in units)		(406,543)
Stock-based compensation, forfeited, number of units (in units)		(113,337)
Stock-based compensation, balance at end of period, number of units (in units)	[1]	580,677	[2],[3],[4]	716,472
Stock-based compensation, balance at beginning of period, weighted-average grant-date fair value	[1]	$ 99.21
Stock-based compensation, granted, weighted-average grant-date fair value		110.70		$ 124.01	$ 94.21
Stock-based compensation, conversions to common stock, weighted-average grant-date fair value		85.34
Stock-based compensation, forfeited, weighted-average grant-date fair value		109.55
Stock-based compensation, balance at end of period, weighted-average grant-date fair value	[1]	$ 108.56	[2],[3],[4]	$ 99.21
Stock-based compensation, weighted average remaining contractual term (in years)	[1],[2],[3],[4]	11 months 23 days
Stock-based compensation, aggregate intrinsic value	[1]	$ 65	[2],[3],[4]	$ 70
Performance stock units granted during period that are earned and subject to requisite service period (in units)		166,467		187,128	227,082
[1]All PSUs outstanding at December 31, 2023 and December 31, 2022, are unvested PSUs.[2]Includes 166,467 PSUs granted in 2023 that may be earned based on the Company’s cumulative EPS as measured over the three-year performance period, which ends December 31, 2025, and are subject to the requisite service period, which ends February 1, 2026.[3]Includes 187,128 PSUs granted in 2022 that are earned based on the Company’s cumulative EPS as measured over the three-year performance period, which ends December 31, 2024, and are subject to the requisite service period, which ends February 1, 2025.[4]Includes 227,082 PSUs granted in 2021 that are earned based on the Company’s cumulative EPS as measured over the three-year performance period, which ended December 31, 2023, and are subject to the requisite service period, which ended February 1, 2024.

Stock-Based Compensation Plan_7

Stock-Based Compensation Plans Schedule of Intrinsic Value of PSUs Converted to Common Stock and Grant Date Fair Value of PSUs Vested (Details) - Performance Stock Units [Member] - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Performance Stock Units Converted to Common Stock [Line Items]
Intrinsic value of stock units converted to common stock	$ 47	$ 29	$ 15
Grant-date fair value of stock units vested	$ 35	$ 17	$ 18
Stock-based compensation, granted, weighted-average grant-date fair value	$ 110.70	$ 124.01	$ 94.21

Employee Benefit Plans (Narrati

Employee Benefit Plans (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Plan Assets, Contributions by Employer	$ 115
Pretax expense associated with the 401(k) matching and fixed employer contributions	128	$ 104	$ 97
Minimum [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Expected Future Employer Contributions	27
Maximum [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Expected Future Employer Contributions	30
Pension Plans, Defined Benefit [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Defined Benefit Plan, Funded (Unfunded) Status of Plan	$ 14	$ (101)

Common and Preferred Stock (Det

Common and Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Millions				3 Months Ended	12 Months Ended
		Jun. 22, 2020	Oct. 31, 2017	Dec. 31, 2023	Dec. 31, 2023	Apr. 17, 2023	Dec. 31, 2022	Apr. 27, 2022
Class of Stock [Line Items]
Preferred Stock, par or stated value per share				$ 0.01	$ 0.01		$ 0.01
Series C Preferred Stock [Member]
Class of Stock [Line Items]
PreferredStockIssueDate	[1]		Oct. 31, 2017
PreferredStockEarliestRedemptionDate					Oct. 30, 2027
Series D Preferred Stock [Member]
Class of Stock [Line Items]
PreferredStockIssueDate	[1]	Jun. 22, 2020
Dividend rate reset					5 years
Common Stock [Member]
Class of Stock [Line Items]
Share repurchase program, authorized amount						$ 2,700		$ 4,200
Number of shares of stock repurchased during the period (in shares)				0	18,100,000
Value of stock repurchased during the period				$ 0	$ 1,900
Preferred Stock [Member]
Class of Stock [Line Items]
PreferredStockDepositarySharesIssued				1,070,000	1,070,000		1,070,000
Preferred Stock, Including Additional Paid in Capital				$ 1,056	$ 1,056		$ 1,056
Preferred Stock [Member] | Series C Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, liquidation preference per share	[1],[2],[3]			$ 1,000	$ 1,000
Preferred stock, redemption price per share	[1],[2],[3]			$ 1,000	$ 1,000
Preferred stock, dividend rate	[1],[4]				5.50%
PreferredStockDepositarySharesIssued				570,000	570,000		570,000
Preferred Stock, Including Additional Paid in Capital	[1]			$ 563	$ 563		$ 563
Depositary shares represented by one preferred stock share				100	100
Preferred Stock, par or stated value per share				$ 0.01	$ 0.01
Redemption period of preferred stock following regulatory capital event					90 days
Preferred Stock Dividend Payment Rate Variable, Rate To Be Used in Future Periods					300%
Preferred Stock [Member] | Series C Preferred Stock [Member] | Three-Month Secured Overnight Financing Rate (SOFR) Overnight Index Swap Rate
Class of Stock [Line Items]
Preferred Stock Dividend Payment Rate Variable, Rate To Be Used in Future Periods					3.338%
Preferred Stock [Member] | Series D Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, liquidation preference per share	[1],[3],[5]			1,000	$ 1,000
Preferred stock, redemption price per share	[1],[3],[5]			$ 1,000	$ 1,000
Preferred stock, dividend rate	[1],[6]				6.125%
PreferredStockDepositarySharesIssued				500,000	500,000		500,000
Preferred Stock, Including Additional Paid in Capital	[1]			$ 493	$ 493		$ 493
Depositary shares represented by one preferred stock share		100
Preferred Stock, par or stated value per share				$ 0.01	$ 0.01
Redemption period of preferred stock following regulatory capital event					90 days
Preferred Stock Dividend Payment Rate Variable, Rate To Be Used in Future Periods					5%
Preferred Stock [Member] | Series D Preferred Stock [Member] | Five-Year Treasury Rate [Member]
Class of Stock [Line Items]
Preferred Stock Dividend Payment Rate Variable, Rate To Be Used in Future Periods					5.783%
[1] Issued as depositary shares, each representing 1/100 th interest in a share of the corresponding series of preferred stock. Each preferred share has a par value of $0.01. Redeemable at the Company’s option, subject to regulatory approval, either (i) in whole or in part on any dividend payment date on or after October 30, 2027, or (ii) in whole but not in part, at any time within 90 days following a regulatory capital treatment event (as defined in the certificate of designations for the Series C preferred stock). Redeemable at the redemption price plus declared and unpaid dividends. Any dividends declared are payable semi-annually in arrears at a rate of 5.50% per annum until October 30, 2027. Thereafter, dividends declared will be payable quarterly in arrears at a floating rate equal to 3-month Term SOFR plus a spread of 3.338% per annum. Redeemable at the Company’s option, subject to regulatory approval, either (i) in whole or in part during the three-month period prior to, and including, each reset date (as defined in the certificate of designations for the Series D preferred stock) or (ii) in whole but not in part, at any time within 90 days following a regulatory capital treatment event (as defined in the certificate of designations for the Series D Preferred Stock). Any dividends declared are payable semi-annually in arrears at a rate of 6.125% per annum until September 23, 2025, after which the dividend rate will reset every 5 years to a fixed annual rate equal to the 5-year Treasury plus a spread of 5.783%.

Accumulated Other Comprehensi_3

Accumulated Other Comprehensive Income (Schedule of Changes in Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), net of tax, balance at beginning of period	$ (339)
Net change in accumulated other comprehensive income (loss), net of tax	114	$ (245)	$ (139)
Accumulated other comprehensive income (loss), net of tax, balance at end of period	(225)	(339)
Unrealized Gains (Losses) on Available-for-Sale Investment Securities, Net of Tax [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), net of tax, balance at beginning of period	(136)	114	284
Net change in accumulated other comprehensive income (loss), net of tax	99	(250)	(170)
Accumulated other comprehensive income (loss), net of tax, balance at end of period	(37)	(136)	114
Gains (Losses) on Cash Flow Hedges, Net of Tax [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), net of tax, balance at beginning of period	(14)	(9)	(12)
Net change in accumulated other comprehensive income (loss), net of tax	6	(5)	3
Accumulated other comprehensive income (loss), net of tax, balance at end of period	(8)	(14)	(9)
Losses on Pension Plan, Net of Tax [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), net of tax, balance at beginning of period	(189)	(199)	(227)
Net change in accumulated other comprehensive income (loss), net of tax	9	10	28
Accumulated other comprehensive income (loss), net of tax, balance at end of period	(180)	(189)	(199)
AOCI [Member]
Accumulated Other Comprehensive Income (Loss) [Line Items]
Accumulated other comprehensive income (loss), net of tax, balance at beginning of period	(339)	(94)	45
Net change in accumulated other comprehensive income (loss), net of tax	114	(245)	(139)
Accumulated other comprehensive income (loss), net of tax, balance at end of period	$ (225)	$ (339)	$ (94)

Accumulated Other Comprehensi_4

Accumulated Other Comprehensive Income (Schedule of Other Comprehensive Income Before Reclassifications and Amounts Reclassified from AOCI) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accumulated Other Comprehensive Income (Loss), Net of Tax [Abstract]
Available-for-sale investment securities, net unrealized holding gains (losses) arising during the period, before tax	$ 131	$ (331)	$ (226)
Available-for-sale investment securities, net unrealized holding gains (losses) arising during the period, tax benefit (expense)	(32)	81	56
Available-for-sale investment securities, net unrealized holding gains (losses) arising during the period, net of tax	99	(250)	(170)
Available-for-sale investment securities, net change, before tax	131	(331)	(226)
Available-for-sale investment securities, net change, tax benefit (expense)	(32)	81	56
Available-for-sale investment securities, net change, net of tax	99	(250)	(170)
Cash flow hedges, net unrealized gains (losses) arising during the period, before tax	(74)	(13)	(1)
Cash flow hedges, net unrealized gains (losses) arising during the period, tax benefit (expense)	18	3	1
Cash flow hedges, net unrealized gains (losses) arising during the period, net of tax	(56)	(10)	0
Cash flow hedges, amounts reclassified from AOCI, before tax	82	4	3
Cash flow hedges, amounts reclassified from AOCI, tax benefit (expense)	(20)	1	0
Cash flow hedges, amounts reclassified from AOCI, net of tax	62	5	3
Cash flow hedges, net change, before tax	8	(9)	2
Cash flow hedges, net change, tax benefit (expense)	(2)	4	1
Cash flow hedges, net change, net of tax	6	(5)	3
Pension plan, unrealized gains (losses) arising during the period, before tax	12	13	37
Pension plan, unrealized gains (losses) arising during the period, tax benefit (expense)	(3)	(3)	(9)
Pension plan, unrealized gains (losses) arising during the period, net of tax	9	10	28
Pension plan, net change, before tax	12	13	37
Pension plan, net change, tax benefit (expense)	(3)	(3)	(9)
Pension plan, net change, net of tax	$ 9	$ 10	$ 28

Other Expense (Schedule of Othe

Other Expense (Schedule of Other Expense) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Component of Other Expense [Abstract]
Fraud losses and other charges	$ 131	$ 149	$ 92
Postage	115	97	91
Credit-related inquiry fees	40	31	24
Supplies	38	35	46
Impairment charges	0	0	95
Other expense	356	228	272
Total other expense	$ 680	$ 540	$ 620

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Interest and penalties accrued for unrecognized tax benefits	$ 2	$ 2

Income Taxes (Schedule of Incom

Income Taxes (Schedule of Income Tax Expense) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Current Income Tax Expense (Benefit), Continuing Operations [Abstract]
Current tax expense, U.S. federal	$ 1,254	$ 1,465	$ 1,084
Current tax expense, U.S. state and local	258	312	204
Total current tax expense	1,512	1,777	1,288
Deferred Income Tax Expense (Benefit), Continuing Operations [Abstract]
Deferred tax expense, U.S. federal	(556)	(381)	280
Deferred tax expense, U.S. state and local	(70)	(52)	38
Total deferred tax expense	(626)	(433)	318
Income tax expense	$ 886	$ 1,344	$ 1,606

Income Taxes (Schedule of Recon

Income Taxes (Schedule of Reconciliation the Effective Tax Rate to the U.S. Federal Statutory Income Tax Rate) (Details)	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Effective Income Tax Rate Reconciliation, Percent [Abstract]
U.S. federal statutory income tax rate	21%	21%	21%
U.S. state, local and other income taxes, net of U.S. federal income tax benefits	3.50%	3.40%	3.20%
Tax credits	(2.00%)	(1.30%)	(1.20%)
Other	0.60%	0.40%	(0.10%)
Effective income tax rate	23.10%	23.50%	22.90%

Income Taxes (Schedule of Defer

Income Taxes (Schedule of Deferred Tax Assets and Liabilities) (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Income Tax Disclosure [Abstract]
Deferred tax assets, allowance for credit losses	$ 2,245	$ 1,791
Deferred Tax Assets Customer Fees and Rewards	236	166
Deferred Tax Assets, Property, Plant and Equipment	60	0
Deferred tax assets, other	203	270
Total deferred tax assets before valuation allowance	2,744	2,227
Deferred tax assets, valuation allowance	(1)	(1)
Total deferred tax assets, net of valuation allowance	2,743	2,226
Deferred tax liabilities, depreciation and software amortization	0	(71)
Deferred tax liabilities, deferred loan origination costs	(40)	(48)
Deferred tax liabilities, other	(47)	(26)
Total deferred tax liabilities	(87)	(145)
Net deferred tax assets	$ 2,656	$ 2,081

Income Taxes (Schedule of Rec_2

Income Taxes (Schedule of Reconciliation of Beginning and Ending Unrecognized Tax Benefits) (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2023		Dec. 31, 2022		Dec. 31, 2021
Reconciliation of Unrecognized Tax Benefits, Excluding Amounts Pertaining to Examined Tax Returns [Roll Forward]
Unrecognized tax benefits, balance at beginning of period		$ 19	[1]	$ 39	[1]	$ 56
Unrecognized tax benefits, additions, current year tax positions		4		4		13
Unrecognized tax benefits, additions, prior year tax positions		0		1		8
Unrecognized tax benefits, reductions, prior year tax positions		(1)		(20)		(14)
Unrecognized tax benefits, reductions, settlements with taxing authorities		(1)		0		(14)
Unrecognized tax benefits, reductions, expired statute of limitations		(3)		(5)		(10)
Unrecognized tax benefits, balance at end of period	[1]	18		19		39
Unrecognized tax benefits that would favorably affect the effective tax rate		$ 18		$ 18		$ 37
[1] For the years ended December 31, 2023, 2022 and 2021, amounts included $18 million, $18 million and $37 million, respectively, of unrecognized tax benefits, which, if recognized, would favorably affect the effective tax rate.

Earnings Per Share (Schedule of

Earnings Per Share (Schedule of Basic and Diluted EPS) (Details) - USD ($) $ / shares in Units, shares in Millions, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Numerator [Abstract]
Net income	$ 2,940	$ 4,374	$ 5,422	$ 1,125
Preferred Stock Dividends	(62)	(62)	(69)
Net income available to common stockholders	2,878	4,312	5,353
Income Allocated to Participating Securities	(19)	(26)	(30)
Net income allocated to common stockholders	2,859	4,286	5,323
Net income (loss) available to common stockholders, diluted	$ 2,859	$ 4,286	$ 5,323
Denominator [Abstract]
Weighted-average shares of common stock outstanding (in shares)	254	277	300
Effect of dilutive common stock equivalents (in shares)	0	1	0
Weighted-average shares of common stock outstanding and common stock equivalents (in shares)	254	278	300
Basic earnings per common share	$ 11.27	$ 15.45	$ 17.75
Diluted earnings per common share	$ 11.26	$ 15.44	$ 17.74

Capital Adequacy (Schedule of M

Capital Adequacy (Schedule of Minimum and Well-Capitalized Requirements) (Details) $ in Millions		Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)
Parent Company [Member]
Compliance with Regulatory Capital Requirements [Line Items]
Total capital to risk-weighted assets, actual amount		$ 17,986	$ 18,004
Total capital to risk-weighted assets, actual ratio (in percent)	[1]	0.137	0.158
Total capital to risk-weighted assets, minimum capital requirements, amount		$ 10,471	$ 9,139
Total capital to risk-weighted assets, minimum capital requirements, ratio (in percent)		0.080	0.080
Total capital to risk-weighted assets, capital requirements to be classified as well-capitalized, amount	[2]	$ 13,088	$ 11,424
Total capital to risk-weighted assets, capital requirements to be classified as well-capitalized, ratio (in percent)	[2]	0.100	0.100
Tier I capital to risk-weighted assets, actual amount		$ 15,872	$ 16,039
Tier I capital to risk-weighted assets, actual ratio (in percent)	[1]	0.121	0.140
Tier I capital to risk-weighted assets, minimum capital requirements, amount		$ 7,853	$ 6,854
Tier I capital to risk-weighted assets, minimum capital requirements, ratio (in percent)		0.060	0.060
Tier I capital to risk-weighted assets, capital requirements to be classified as well-capitalized, amount	[2]	$ 7,853	$ 6,854
Tier I capital to risk-weighted assets, capital requirements to be classified as well-capitalized, ratio (in percent)	[2]	0.060	0.060
Tier I capital to average assets, actual amount		$ 15,872	$ 16,039
Tier I capital to average assets, actual ratio (in percent)	[1]	0.107	0.125
Tier I capital to average assets, minimum capital requirements, amount		$ 5,915	$ 5,147
Tier I capital to average assets, minimum capital requirements, ratio (in percent)		0.040	0.040
CET1 capital to risk-weighted assets, actual amount		$ 14,816	$ 14,983
CET1 capital to risk-weighted assets, actual ratio (in percent)	[1]	0.113	0.131
CET1 capital to risk-weighted assets, minimum capital requirements, amount		$ 5,890	$ 5,141
CET1 capital to risk-weighted assets, minimum capital requirements, ratio (in percent)		4.50%	4.50%
Discover Bank [Member]
Compliance with Regulatory Capital Requirements [Line Items]
Total capital to risk-weighted assets, actual amount		$ 16,856	$ 16,344
Total capital to risk-weighted assets, actual ratio (in percent)	[1]	0.130	0.145
Total capital to risk-weighted assets, minimum capital requirements, amount		$ 10,352	$ 9,024
Total capital to risk-weighted assets, minimum capital requirements, ratio (in percent)		0.080	0.080
Total capital to risk-weighted assets, capital requirements to be classified as well-capitalized, amount	[2]	$ 12,939	$ 11,280
Total capital to risk-weighted assets, capital requirements to be classified as well-capitalized, ratio (in percent)	[2]	0.100	0.100
Tier I capital to risk-weighted assets, actual amount		$ 13,910	$ 13,446
Tier I capital to risk-weighted assets, actual ratio (in percent)	[1]	0.108	0.119
Tier I capital to risk-weighted assets, minimum capital requirements, amount		$ 7,764	$ 6,768
Tier I capital to risk-weighted assets, minimum capital requirements, ratio (in percent)		0.060	0.060
Tier I capital to risk-weighted assets, capital requirements to be classified as well-capitalized, amount	[2]	$ 10,352	$ 9,024
Tier I capital to risk-weighted assets, capital requirements to be classified as well-capitalized, ratio (in percent)	[2]	0.080	0.080
Tier I capital to average assets, actual amount		$ 13,910	$ 13,446
Tier I capital to average assets, actual ratio (in percent)	[1]	0.095	0.106
Tier I capital to average assets, minimum capital requirements, amount		$ 5,833	$ 5,086
Tier I capital to average assets, minimum capital requirements, ratio (in percent)		0.040	0.040
Tier I capital to average assets, capital requirements to be classified as well-capitalize, amount	[2]	$ 7,292	$ 6,357
Tier I capital to average assets, capital requirements to be classified as well-capitalized, ratio (in percent)	[2]	0.050	0.050
CET1 capital to risk-weighted assets, actual amount		$ 13,910	$ 13,446
CET1 capital to risk-weighted assets, actual ratio (in percent)	[1]	0.108	0.119
CET1 capital to risk-weighted assets, minimum capital requirements, amount		$ 5,823	$ 5,076
CET1 capital to risk-weighted assets, minimum capital requirements, ratio (in percent)		4.50%	4.50%
CET1 capital to risk-weighted assets, capital requirements to be classified as well-capitalized, amount	[2]	$ 8,411	$ 7,332
CET1 capital to risk-weighted assets, capital requirements to be classified as well capitalized, ratio (in percent)	[2]	6.50%	6.50%
[1] Capital ratios are calculated based on the Basel III standardized approach rules, subject to applicable transition provisions, including CECL transition provisions. The Basel III rules do not establish well-capitalized thresholds for these measures for bank holding companies. Existing well-capitalized thresholds established in the Federal Reserve’s Regulation Y have been included where available. (3) Capital amounts and ratios have been updated to reflect the impact of the restatement described in Note 26: Immaterial Restatement of Prior Period Financial Statements. Discover Bank capital amounts and ratios presented as of December 31, 2022 have been updated from amounts previously disclosed in the Company’s Form 10-Q for the period ended September 30, 2023, due to certain intercompany allocations recorded in the fourth quarter.

Capital Adequacy (Narrative) (D

Capital Adequacy (Narrative) (Details) - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Discover Bank [Member]
Compliance with Regulatory Capital Requirements under Banking Regulations [Line Items]
Cash dividends paid to parent company	$ 1.7	$ 4	$ 3.3

Commitments, Contingencies an_3

Commitments, Contingencies and Guarantees (Narrative) (Details) - USD ($) $ in Millions	Dec. 31, 2023	Dec. 31, 2022
Commitments, Contingencies and Guarantees [Line Items]
Off-Balance sheet, credit loss, liability	$ 0
Commitments to Extend Credit [Member]
Commitments, Contingencies and Guarantees [Line Items]
Unused commitments to extend credit for loans	229,800
Counterparty Settlement Guarantees Member
Commitments, Contingencies and Guarantees [Line Items]
Maximum potential counterparty exposure	100
Contingent liabilities related to equity method investments	0
Merchant Chargeback Guarantees [Member]
Commitments, Contingencies and Guarantees [Line Items]
Escrow deposits and settlement withholdings	$ 10	$ 11

Commitments, Contingencies an_4

Commitments, Contingencies and Guarantees (Schedule of Maximum Potential Counterparty Exposures Related to Settlement Guarantees and Merchant Chargeback Guarantee) (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Merchant Chargeback Guarantees [Member]
Loss Contingencies [Line Items]
Aggregate sales transaction volume	[1]	$ 257,611	$ 256,237	$ 223,360
[1] Represents transactions processed on the Discover Network for which a potential liability exists that, in aggregate, can differ from credit card sales volume.

Litigation and Regulatory Mat_2

Litigation and Regulatory Matters (Details) - USD ($) $ in Millions		3 Months Ended	12 Months Ended
	Dec. 22, 2020	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Jun. 30, 2023
Loss Contingencies [Line Items]
Litigation Settlement, Expense			$ 17	$ 15	$ 59
Card Product Misclassification [Member]
Loss Contingencies [Line Items]
Accrued Liabilities and Other Liabilities		$ 375	375			$ 365
Increase in Accrued Merchant Refund Liability		11
Decrease in Accrued Merchant Refund Liability		12
Unfavorable Regulatory Action [Member] | Consumer Financial Protection Bureau Consent Order [Member]
Loss Contingencies [Line Items]
Amount of civil money penalty for CFPB consent order	$ 25
Maximum [Member] | Pending and Threatened Litigation [Member]
Loss Contingencies [Line Items]
Loss Contingency, Range of Possible Loss, Portion Not Accrued		$ 230	$ 230
Minimum [Member] | Unfavorable Regulatory Action [Member] | Consumer Financial Protection Bureau Consent Order [Member]
Loss Contingencies [Line Items]
Aggregate range of reasonably possible losses	$ 10

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis) (Details) - USD ($) $ in Millions		Dec. 31, 2023		Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	[1]	$ 13,402		$ 11,987
US Treasury and Government
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	[1]	12,937		11,423
Residential Mortgage Backed Securities - Agency [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale	[1]	465	[2]	564
Fair Value, Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale		13,402		11,987
Equity Securities, FV-NI		1		41	[3]
Fair Value, Recurring [Member] | Interest Rate Swaps [Member] | Cash Flow Hedges [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments, assets, fair value	[3]	2		1
Derivative financial instruments, liabilities, fair value	[3]			3
Fair Value, Recurring [Member] | Interest Rate Swaps [Member] | Fair Value Hedges [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments, assets, fair value	[3]	2
Derivative financial instruments, liabilities, fair value	[3]			2
Fair Value, Recurring [Member] | US Treasury and Government
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale		12,937		11,423
Fair Value, Recurring [Member] | Residential Mortgage Backed Securities - Agency [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale		465		564
Fair Value, Recurring [Member] | Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale		12,928		11,416
Equity Securities, FV-NI		1		41
Fair Value, Recurring [Member] | Level 1 [Member] | Interest Rate Swaps [Member] | Cash Flow Hedges [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments, assets, fair value	[3]	0		0
Derivative financial instruments, liabilities, fair value	[3]			0
Fair Value, Recurring [Member] | Level 1 [Member] | Interest Rate Swaps [Member] | Fair Value Hedges [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments, assets, fair value	[3]	0
Derivative financial instruments, liabilities, fair value	[3]			0
Fair Value, Recurring [Member] | Level 1 [Member] | US Treasury and Government
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale		12,928		11,416
Fair Value, Recurring [Member] | Level 1 [Member] | Residential Mortgage Backed Securities - Agency [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale		0		0
Fair Value, Recurring [Member] | Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale		474		571
Equity Securities, FV-NI		0		0
Fair Value, Recurring [Member] | Level 2 [Member] | Interest Rate Swaps [Member] | Cash Flow Hedges [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments, assets, fair value	[3]	2		1
Derivative financial instruments, liabilities, fair value	[3]			3
Fair Value, Recurring [Member] | Level 2 [Member] | Interest Rate Swaps [Member] | Fair Value Hedges [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments, assets, fair value	[3]	2
Derivative financial instruments, liabilities, fair value	[3]			2
Fair Value, Recurring [Member] | Level 2 [Member] | US Treasury and Government
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale		9		7
Fair Value, Recurring [Member] | Level 2 [Member] | Residential Mortgage Backed Securities - Agency [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale		465		564
Fair Value, Recurring [Member] | Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale		0		0
Equity Securities, FV-NI		0		0
Fair Value, Recurring [Member] | Level 3 [Member] | Interest Rate Swaps [Member] | Cash Flow Hedges [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments, assets, fair value	[3]	0		0
Derivative financial instruments, liabilities, fair value	[3]			0
Fair Value, Recurring [Member] | Level 3 [Member] | Interest Rate Swaps [Member] | Fair Value Hedges [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative financial instruments, assets, fair value	[3]	0
Derivative financial instruments, liabilities, fair value	[3]			0
Fair Value, Recurring [Member] | Level 3 [Member] | US Treasury and Government
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale		0		0
Fair Value, Recurring [Member] | Level 3 [Member] | Residential Mortgage Backed Securities - Agency [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Debt Securities, Available-for-sale		$ 0		$ 0
[1] Available-for-sale investment securities are reported at fair value. Maturities of RMBS are reflective of the contractual maturities of the investment. Derivative instrument carrying values in an asset or liability position are presented as part of other assets or accrued expenses and other liabilities, respectively, in the Company’s consolidated statements of financial condition.

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Nonrecurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Goodwill and Intangible Asset Impairment	$ 0	$ 0
Residential Mortgage Backed Securities - Agency [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Available for sale security, par value	$ 480
Available for sale securities, weighted average coupon rate (in percent)	4.09%
Available for sale securities, weighted average remaining maturity (in years)	4 years

Fair Value Measurements (Sche_2

Fair Value Measurements (Schedule of Financial Instruments Measured at Other Than Fair Value) (Details) - USD ($) $ in Millions		Dec. 31, 2023		Dec. 31, 2022
Estimate of Fair Value Measurement
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Held-to-maturity investment securities		$ 234		$ 199
Net loan receivables		126,940		110,796
Cash and cash equivalents	[1]	11,685		8,856
Restricted cash	[1]	43		41
Accrued interest receivables	[1],[2]	1,450		1,211
Time deposits	[3]	45,333		32,710
Short-term Debt, Fair Value		750
Long-term borrowings		20,304		19,414
Accrued interest payables	[1],[2]	421		308
Estimate of Fair Value Measurement | Variable Interest Entity, Primary Beneficiary [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term borrowings		10,835		9,946
Estimate of Fair Value Measurement | Consolidated Entity Excluding Variable Interest Entities (VIE) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term borrowings		9,469		9,468
Estimate of Fair Value Measurement | Residential Mortgage Backed Securities - Agency [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Held-to-maturity investment securities		234		199
Estimate of Fair Value Measurement | Level 1 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Held-to-maturity investment securities		0		0
Net loan receivables		0		0
Cash and cash equivalents	[1]	11,685		8,856
Restricted cash	[1]	43		41
Accrued interest receivables	[1],[2]	0		0
Time deposits	[3]	0		0
Short-term Debt, Fair Value		0
Long-term borrowings		0		0
Accrued interest payables	[1],[2]	0		0
Estimate of Fair Value Measurement | Level 1 [Member] | Variable Interest Entity, Primary Beneficiary [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term borrowings		0		0
Estimate of Fair Value Measurement | Level 1 [Member] | Consolidated Entity Excluding Variable Interest Entities (VIE) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term borrowings		0		0
Estimate of Fair Value Measurement | Level 1 [Member] | Residential Mortgage Backed Securities - Agency [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Held-to-maturity investment securities		0		0
Estimate of Fair Value Measurement | Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Held-to-maturity investment securities		234		199
Net loan receivables		0		0
Cash and cash equivalents	[1]	0		0
Restricted cash	[1]	0		0
Accrued interest receivables	[1],[2]	1,450		1,211
Time deposits	[3]	45,333		32,710
Short-term Debt, Fair Value		750
Long-term borrowings		20,239		19,330
Accrued interest payables	[1],[2]	421		308
Estimate of Fair Value Measurement | Level 2 [Member] | Variable Interest Entity, Primary Beneficiary [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term borrowings		10,770		9,862
Estimate of Fair Value Measurement | Level 2 [Member] | Consolidated Entity Excluding Variable Interest Entities (VIE) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term borrowings		9,469		9,468
Estimate of Fair Value Measurement | Level 2 [Member] | Residential Mortgage Backed Securities - Agency [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Held-to-maturity investment securities		234		199
Estimate of Fair Value Measurement | Level 3 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Held-to-maturity investment securities		0		0
Net loan receivables		126,940		110,796
Cash and cash equivalents	[1]	0		0
Restricted cash	[1]	0		0
Accrued interest receivables	[1],[2]	0		0
Time deposits	[3]	0		0
Short-term Debt, Fair Value		0
Long-term borrowings		65		84
Accrued interest payables	[1],[2]	0		0
Estimate of Fair Value Measurement | Level 3 [Member] | Variable Interest Entity, Primary Beneficiary [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term borrowings		65		84
Estimate of Fair Value Measurement | Level 3 [Member] | Consolidated Entity Excluding Variable Interest Entities (VIE) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term borrowings		0		0
Estimate of Fair Value Measurement | Level 3 [Member] | Residential Mortgage Backed Securities - Agency [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Held-to-maturity investment securities		0		0
Carrying Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Held-to-maturity investment securities		253		221
Net loan receivables		119,126		104,746
Cash and cash equivalents	[1]	11,685		8,856
Restricted cash	[1]	43		41
Accrued interest receivables	[1],[2]	1,450		1,211
Time deposits	[3]	45,240		33,070
Short-term Debt, Fair Value		750
Long-term borrowings		20,581		20,108
Accrued interest payables	[1],[2]	421		308
Carrying Value [Member] | Variable Interest Entity, Primary Beneficiary [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term borrowings		10,993		10,259
Carrying Value [Member] | Consolidated Entity Excluding Variable Interest Entities (VIE) [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term borrowings		9,588		9,849
Carrying Value [Member] | Residential Mortgage Backed Securities - Agency [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Held-to-maturity investment securities		253		221
Held-to-maturity investment securities	[4]	234		199
Residential Mortgage Backed Securities - Agency [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Held-to-maturity investment securities	[4],[5]	$ 234	[6]	$ 199
[1]The carrying values of these assets and liabilities approximate fair value due to their short-term nature.[2]Accrued interest receivable and payable carrying values are presented as part of other assets and accrued expenses and other liabilities, respectively, in the Company’s consolidated statements of financial condition.[3]Excludes deposits without contractually defined maturities for all periods presented.[4] Held-to-maturity investment securities are reported at amortized cost. Amounts represent residential mortgage-backed securities (“RMBS”) that were classified as held-to-maturity as they were entered into as a part of the Company’s community reinvestment initiatives. Maturities of RMBS are reflective of the contractual maturities of the investment.

Derivatives and Hedging Activ_3

Derivatives and Hedging Activities (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Interest Income
Derivative [Line Items]
Cash flow hedge loss to be reclassified to earnings within twelve months	$ 79
Financing Receivable [Member]
Derivative [Line Items]
Initial maximum period for cash flow hedges (in years)	5 years	3 years

Derivatives and Hedging Activ_4

Derivatives and Hedging Activities (Schedule of Fair Value and Outstanding Notional Amounts of Derivative Instruments and Related Collateral Balances) (Details) € in Millions, ₨ in Millions, £ in Millions, $ in Millions, $ in Millions, $ in Millions		Dec. 31, 2023 USD ($) transactions	Dec. 31, 2023 EUR (€) transactions	Dec. 31, 2023 GBP (£) transactions	Dec. 31, 2023 SGD ($) transactions	Dec. 31, 2023 INR (₨) transactions	Dec. 31, 2023 AUD ($) transactions	Dec. 31, 2022 USD ($) transactions	Dec. 31, 2022 EUR (€) transactions	Dec. 31, 2022 GBP (£) transactions	Dec. 31, 2022 SGD ($) transactions	Dec. 31, 2022 INR (₨) transactions	Dec. 31, 2022 AUD ($) transactions
Derivatives, Fair Value [Line Items]
Derivative assets	[1]	$ 4						$ 1
Collateral held, derivative assets	[2]	0						0
Total net derivative assets		4						1
Derivative liabilities	[1]	0						5
Collateral posted, derivative liabilities	[2]	0						(5)
Total net derivative liabilities		0						0
Designated as Hedges [Member] | Cash Flow Hedges [Member] | Interest Rate Swaps [Member]
Derivatives, Fair Value [Line Items]
Derivative, notional amount		$ 10,650						5,000
Derivative, number of outstanding derivative contracts | transactions		17	17	17	17	17	17
Derivative assets		$ 2						1
Derivative liabilities		0						3
Designated as Hedges [Member] | Fair Value Hedges [Member] | Interest Rate Swaps [Member]
Derivatives, Fair Value [Line Items]
Derivative, notional amount		$ 8,650						4,425
Derivative, number of outstanding derivative contracts | transactions		10	10	10	10	10	10
Derivative assets		$ 2						0
Derivative liabilities		0						2
Not Designated as Hedges [Member] | Foreign Exchange Forward Contracts [Member]
Derivatives, Fair Value [Line Items]
Derivative, notional amount	[3]	$ 29						25
Derivative, number of outstanding derivative contracts | transactions		7	7	7	7	7	7
Derivative assets		$ 0						0
Derivative liabilities		0						0
Not Designated as Hedges [Member] | Foreign Exchange Forward Contracts [Member] | Euro Member Countries, Euro
Derivatives, Fair Value [Line Items]
Derivative, notional amount | €			€ 6						€ 6
Not Designated as Hedges [Member] | Foreign Exchange Forward Contracts [Member] | United Kingdom, Pounds
Derivatives, Fair Value [Line Items]
Derivative, notional amount | £				£ 6						£ 6
Not Designated as Hedges [Member] | Foreign Exchange Forward Contracts [Member] | Singapore, Dollars
Derivatives, Fair Value [Line Items]
Derivative, notional amount					$ 1						$ 1
Not Designated as Hedges [Member] | Foreign Exchange Forward Contracts [Member] | India, Rupees
Derivatives, Fair Value [Line Items]
Derivative, notional amount | ₨						₨ 1,100						₨ 788
Not Designated as Hedges [Member] | Foreign Exchange Forward Contracts [Member] | Australia, Dollars
Derivatives, Fair Value [Line Items]
Derivative, notional amount							$ 2						$ 2
Not Designated as Hedges [Member] | When-Issued Mortgage-Backed Contracts [Member]
Derivatives, Fair Value [Line Items]
Derivative, notional amount		$ 35						$ 48
Derivative, number of outstanding derivative contracts | transactions		1	1	1	1	1	1	1	1	1	1	1	1
[1] In addition to the derivatives disclosed in the table, the Company enters into forward contracts to purchase when-issued mortgage-backed securities and tax exempt single family mortgage revenue bonds as part of its community reinvestment initiatives. At December 31, 2023, the Company had one outstanding contract with a total notional amount of $35 million and an immaterial fair value. At December 31, 2022, the Company had one outstanding contract with a total notional amount of $48 million and an immaterial fair value. The foreign exchange forward contracts have notional amounts of EUR 6 million, GBP 6 million, SGD 1 million, INR 1.1 billion and AUD 2 million as of December 31, 2023, and notional amounts of EUR 6 million, GBP 6 million, SGD 1 million, INR 788 million and AUD 2 million as of December 31, 2022.

Derivatives and Hedging Activ_5

Derivatives and Hedging Activities Derivatives and Hedging Activities (Schedule of Hedged Items in Fair Value Hedging Relationship) (Details) - Long-term Borrowings [Member] - USD ($) $ in Millions		Dec. 31, 2023	Dec. 31, 2022
Schedule of Hedged Items in Fair Value Hedging Relationship [Line Items]
Carrying amount of hedged assets/liabilities		$ 8,620	$ 4,386
Cumulative amount of fair value hedging adjustment increasing (decreasing) the carrying amount of hedged assets/liabilities	[1]	0	(3)
Hedged Liability, Discontinued Fair Value Hedge, Cumulative Increase (Decrease)		$ 12	$ 28
[1] The balance includes $12 million and $28 million of cumulative hedging adjustments related to discontinued hedging relationships as of December 31, 2023 and 2022, respectively.

Derivatives and Hedging Activ_6

Derivatives and Hedging Activities (Schedule of Impact of the Derivative Instruments on Income) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Amounts reclassified from OCI into earnings, cash flow hedges	$ (82)	$ (4)	$ (3)
Interest Expense [Member] | Long-term Borrowings [Member] | Designated as Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total amounts of income and expense line items presented in the consolidated statements of income, where the effects of fair value or cash flow hedges are recorded	(855)	(606)	(473)
Interest Expense [Member] | Long-term Borrowings [Member] | Designated as Hedges [Member] | Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amounts reclassified from OCI into earnings, cash flow hedges	9	(2)	(3)
Gains (losss) on hedged items, fair value hedges	(19)	66	246
Gains (losses) on interest rate swap, fair value hedges	(80)	(70)	(93)
Total gains (losses) on fair value hedges	(99)	(4)	153
Interest Expense [Member] | Long-term Borrowings [Member] | Not Designated as Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net		0
Interest Income | Credit Card Loans [Member] | Designated as Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total amounts of income and expense line items presented in the consolidated statements of income, where the effects of fair value or cash flow hedges are recorded	14,438	10,632	8,717
Interest Income | Credit Card Loans [Member] | Designated as Hedges [Member] | Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amounts reclassified from OCI into earnings, cash flow hedges	(91)	(2)	0
Gains (losss) on hedged items, fair value hedges	0	0	0
Gains (losses) on interest rate swap, fair value hedges	0	0	0
Total gains (losses) on fair value hedges	0	0	0
Interest Income | Credit Card Loans [Member] | Not Designated as Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net		0
Other Income [Member] | Designated as Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total amounts of income and expense line items presented in the consolidated statements of income, where the effects of fair value or cash flow hedges are recorded	85	75	66
Other Income [Member] | Designated as Hedges [Member] | Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Amounts reclassified from OCI into earnings, cash flow hedges	0	0	0
Gains (losss) on hedged items, fair value hedges	0	0	0
Gains (losses) on interest rate swap, fair value hedges	0	0	0
Total gains (losses) on fair value hedges	$ 0	0	$ 0
Other Income [Member] | Not Designated as Hedges [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Derivative Instruments Not Designated as Hedging Instruments, Gain (Loss), Net		$ 1

Segment Disclosures (Narrative)

Segment Disclosures (Narrative) (Details)	12 Months Ended
	Dec. 31, 2023 segment
Segment Reporting [Abstract]
Number of reportable segments	2

Segment Disclosures (Schedule o

Segment Disclosures (Schedule of Segment Disclosures) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Interest income	$ 17,845	$ 12,864	$ 10,651
Interest expense	4,746	1,865	1,134
Net interest income	13,099	10,999	9,517
Provision for credit losses	6,018	2,359	218
Other income	2,761	2,294	2,534
Other expense	6,016	5,216	4,805
Income before income taxes	3,826	5,718	7,028
Credit Card Loans [Member]
Segment Reporting Information [Line Items]
Interest income	14,438	10,632	8,717
Total Other Loans [Member] | Private Student Loans [Member]
Segment Reporting Information [Line Items]
Interest income	1,033	831	742
Total Other Loans [Member] | Personal Loans [Member]
Segment Reporting Information [Line Items]
Interest income	1,156	872	878
Total Other Loans [Member] | Other Loans [Member]
Segment Reporting Information [Line Items]
Interest income	326	167	114
Unallocated Financing Receivables | Other [Member]
Segment Reporting Information [Line Items]
Interest income	892	362	200
Operating Segments [Member] | Digital Banking [Member]
Segment Reporting Information [Line Items]
Interest income	17,845	12,864	10,651
Interest expense	4,746	1,865	1,134
Net interest income	13,099	10,999	9,517
Provision for credit losses	6,018	2,359	218
Other income	2,311	2,118	1,745
Other expense	5,822	5,049	4,549
Income before income taxes	3,570	5,709	6,495
Operating Segments [Member] | Digital Banking [Member] | Credit Card Loans [Member]
Segment Reporting Information [Line Items]
Interest income	14,438	10,632	8,717
Operating Segments [Member] | Digital Banking [Member] | Total Other Loans [Member] | Private Student Loans [Member]
Segment Reporting Information [Line Items]
Interest income	1,033	831	742
Operating Segments [Member] | Digital Banking [Member] | Total Other Loans [Member] | Personal Loans [Member]
Segment Reporting Information [Line Items]
Interest income	1,156	872	878
Operating Segments [Member] | Digital Banking [Member] | Total Other Loans [Member] | Other Loans [Member]
Segment Reporting Information [Line Items]
Interest income	326	167	114
Operating Segments [Member] | Digital Banking [Member] | Unallocated Financing Receivables | Other [Member]
Segment Reporting Information [Line Items]
Interest income	892	362	200
Operating Segments [Member] | Payment Services [Member]
Segment Reporting Information [Line Items]
Interest income	0	0	0
Interest expense	0	0	0
Net interest income	0	0	0
Provision for credit losses	0	0	0
Other income	450	176	789
Other expense	194	167	256
Income before income taxes	256	9	533
Operating Segments [Member] | Payment Services [Member] | Credit Card Loans [Member]
Segment Reporting Information [Line Items]
Interest income	0	0	0
Operating Segments [Member] | Payment Services [Member] | Total Other Loans [Member] | Private Student Loans [Member]
Segment Reporting Information [Line Items]
Interest income	0	0	0
Operating Segments [Member] | Payment Services [Member] | Total Other Loans [Member] | Personal Loans [Member]
Segment Reporting Information [Line Items]
Interest income	0	0	0
Operating Segments [Member] | Payment Services [Member] | Total Other Loans [Member] | Other Loans [Member]
Segment Reporting Information [Line Items]
Interest income	0	0	0
Operating Segments [Member] | Payment Services [Member] | Unallocated Financing Receivables | Other [Member]
Segment Reporting Information [Line Items]
Interest income	$ 0	$ 0	$ 0

Revenue from Contracts with C_3

Revenue from Contracts with Customers (Schedule of Revenue from Contracts with Customers Disaggregated by Business Segment) (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Disaggregation of Revenue [Line Items]
Discount and interchange revenue, net		$ 1,447	$ 1,380	$ 1,188
Protection products revenue		172	172	165
Transaction processing revenue		303	249	227
Other income		85	75	66
Loan fee income		763	632	464
(Losses) gains on equity investments		(9)	(214)	424
Total other income not subject to ASC 606		754	418	888
Total other income		2,761	2,294	2,534
Customer rewards included in discount and interchange revenue		3,100	3,000	2,500
Deposit product fees reported in net interest income and excluded from other income subject to ASC 606		15	10	2
Accounting Standards Update 2014-09 [Member]
Disaggregation of Revenue [Line Items]
Discount and interchange revenue, net	[1]	1,447	1,380	1,188
Protection products revenue		172	172	165
Transaction processing revenue		303	249	227
Other income		85	75	66
Total other income subject to ASC 606	[2]	2,007	1,876	1,646
Operating Segments [Member] | Digital Banking [Member]
Disaggregation of Revenue [Line Items]
Loan fee income		763	632	464
(Losses) gains on equity investments		0	2	1
Total other income not subject to ASC 606		763	634	465
Total other income		2,311	2,118	1,745
Operating Segments [Member] | Digital Banking [Member] | Accounting Standards Update 2014-09 [Member]
Disaggregation of Revenue [Line Items]
Discount and interchange revenue, net	[1]	1,360	1,301	1,115
Protection products revenue		172	172	165
Transaction processing revenue		0	0	0
Other income		16	11	0
Total other income subject to ASC 606	[2]	1,548	1,484	1,280
Operating Segments [Member] | Payment Services [Member]
Disaggregation of Revenue [Line Items]
Loan fee income		0	0	0
(Losses) gains on equity investments		(9)	(216)	423
Total other income not subject to ASC 606		(9)	(216)	423
Total other income		450	176	789
Operating Segments [Member] | Payment Services [Member] | Accounting Standards Update 2014-09 [Member]
Disaggregation of Revenue [Line Items]
Discount and interchange revenue, net	[1]	87	79	73
Protection products revenue		0	0	0
Transaction processing revenue		303	249	227
Other income		69	64	66
Total other income subject to ASC 606	[2]	$ 459	$ 392	$ 366
[1]Net of rewards, including Cashback Bonus rewards, of $3.1 billion, $3.0 billion and $2.5 billion for the years ended December 31, 2023, 2022 and 2021, respectively.[2]Excludes $15 million, $10 million and $2 million deposit product fees that are reported within net interest income for the years ended December 31, 2023, 2022 and 2021, respectively.

Parent Company Condensed Fina_3

Parent Company Condensed Financial Information (Schedule of Parent Company Condensed Statements of Financial Condition) (Details) - USD ($) $ in Millions	Dec. 31, 2023		Dec. 31, 2022		Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Assets
Cash and cash equivalents	$ 11,685		$ 8,856		$ 8,750
Restricted cash	43		41		2,582
Net loan receivables	119,126		104,746
Other assets	5,667		4,597
Total assets	151,522		131,706
Liabilities and Stockholders’ Equity
Non-interest-bearing deposit accounts	1,438		1,485
Interest-bearing deposit accounts	107,493		90,151
Deposits	108,931		91,636
Long-term borrowings	20,581		20,108
Accrued expenses and other liabilities	6,432		5,618
Total liabilities	136,694		117,362
Stockholders’ equity	14,828		14,344		13,180	$ 10,683	$ 11,674
Total liabilities and stockholders’ equity	151,522		131,706
Parent Company [Member]
Assets
Cash and cash equivalents	3,509	[1]	3,155	[1]	3,182
Restricted cash	75		20		$ 20
Net loan receivables	$ 1,650	[2]	$ 1,759
Financing Receivable, after Allowance for Credit Loss, Related Party, Type [Extensible Enumeration]	Subsidiaries		Subsidiaries
Investment in bank subsidiary(3)	$ 12,791		$ 11,685
Investments in non-bank subsidiaries(3)	1,116		877
Other assets	871		811
Total assets	20,012		18,307
Liabilities and Stockholders’ Equity
Non-interest-bearing deposit accounts	2		2
Long-term borrowings	4,469		3,487
Accrued expenses and other liabilities	323		359
Total liabilities	5,184		3,963
Stockholders’ equity	14,828		14,344
Total liabilities and stockholders’ equity	20,012		18,307
Parent Company [Member] | Subsidiaries
Liabilities and Stockholders’ Equity
Short-term borrowings from subsidiaries	390		115
Parent Company [Member] | Discover Bank [Member]
Liabilities and Stockholders’ Equity
Liquidity available to parent from money market deposit account at subsidiary	3,500		3,100
Liquidity available to parent from funds advanced to subsidiary	$ 1,300		$ 1,300
[1] The Parent Company had $3.5 billion and $3.1 billion in a money market deposit account at Discover Bank as of December 31, 2023 and 2022, respectively, which is included in cash and cash equivalents. These funds are available to the Parent for liquidity purposes. (2) The Parent Company had a balance of $1.3 billion representing advances to Discover Bank as of December 31, 2023 and 2022, which is included in notes receivable from subsidiaries.

Parent Company Condensed Fina_4

Parent Company Condensed Financial Information (Schedule of Parent Company Condensed Statements of Income) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Condensed Financial Statements, Captions [Line Items]
Interest income	$ 17,845	$ 12,864	$ 10,651
Interest expense	4,746	1,865	1,134
Net interest expense	13,099	10,999	9,517
Other expense	6,016	5,216	4,805
Income tax benefit (expense)	(886)	(1,344)	(1,606)
Net income	2,940	4,374	5,422	$ 1,125
Other comprehensive (loss) income, net	114	(245)	(139)
Comprehensive income	3,054	4,129	5,283
Parent Company [Member]
Condensed Financial Statements, Captions [Line Items]
Interest income	240	98	33
Interest expense	189	189	199
Net interest expense	51	(91)	(166)
Dividends from bank subsidiary	1,700	4,000	3,250
Dividends from non-bank subsidiaries	11	688	0
Other Income	4	0	0
Total income	1,766	4,597	3,084
Other expense	(2)	6	10
Income before income tax benefit and equity in undistributed net income of subsidiaries	1,768	4,591	3,074
Income tax benefit (expense)	(7)	25	25
Equity in undistributed net income of subsidiaries	1,179	(242)	2,323
Net income	2,940	4,374	5,422
Other comprehensive (loss) income, net	114	(245)	(139)
Comprehensive income	$ 3,054	$ 4,129	$ 5,283

Parent Company Condensed Fina_5

Parent Company Condensed Financial Information (Schedule of Parent Company Condensed Statements of Cash Flows) (Details) - USD ($) $ in Millions		12 Months Ended
		Dec. 31, 2023		Dec. 31, 2022		Dec. 31, 2021	Dec. 31, 2020
Cash flows provided by operating activities
Net income		$ 2,940		$ 4,374		$ 5,422	$ 1,125
Adjustments to reconcile net income to net cash provided by operating activities:
Deferred income taxes		(626)		(433)		318
Depreciation and amortization		74		80		86
Gain (Loss) on Disposition of Assets		(50)		(261)		382
Changes in assets and liabilities:
Increase in other assets		(658)		(846)		(496)
(Decrease) increase in accrued expenses and other liabilities		739		1,104		446
Net cash provided by operating activities		8,563		7,140		6,019
Cash flows provided by (used for) investing activities
Net cash provided by (used for) investing activities		(21,491)		(25,637)		40
Cash flows (used for) provided by financing activities
Net change in short-term borrowings		750		(1,750)		1,750
Proceeds from issuance of common stock		12		10		9
Maturities and repayment of long-term borrowings		(2,340)		(834)		(922)
Purchases of treasury stock		(1,938)		(2,359)		(2,260)
Dividends paid on common and preferred stock		(752)		(703)		(636)
Net cash used for financing activities		15,759		16,062		(8,316)
Increase (decrease) in cash, cash equivalents and restricted cash		2,831		(2,435)		(2,257)
Cash, cash equivalents and restricted cash, at the beginning of the period		8,897		11,332		13,589
Cash, cash equivalents and restricted cash, at the end of the period		11,728		8,897		11,332	13,589
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents		11,685		8,856		8,750
Restricted cash		43		41		2,582
Cash paid during the period for:
Interest expense		4,508		1,666		1,077
Income taxes, net of income tax refunds		1,605		1,865		1,305
Parent Company [Member]
Cash flows provided by operating activities
Net income		2,940		4,374		5,422
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed net income of subsidiaries		(1,179)		242		(2,323)
Non-cash dividend from subsidiary		11		188		0
Stock-based compensation expense		74		89		103
Deferred income taxes		2		(8)		(13)
Depreciation and amortization		4		32		47
Gain (Loss) on Disposition of Assets		(4)		0		0
Changes in assets and liabilities:
Increase in other assets		(65)		(143)		(91)
(Decrease) increase in accrued expenses and other liabilities		(41)		27		24
Net cash provided by operating activities		1,720		4,425		3,169
Cash flows provided by (used for) investing activities
Return of Capital from Sale of Subsidiary		2		0		0
Repayment of Notes Receivable from Related Parties		(109)				(114)
Increase in loans to subsidiaries	[1]			(982)
Proceeds from sale of subsidiary		3		0		0
Net cash provided by (used for) investing activities		114		(982)	[1]	114
Cash flows (used for) provided by financing activities
Net change in short-term borrowings		275		(324)		156
Proceeds from issuance of common stock		12		10		9
Proceeds from issuance of long-term borrowings		993		740		0
Maturities and repayment of long-term borrowings		(15)		(834)		(172)
Purchases of treasury stock		(1,938)		(2,359)		(2,260)
Dividends paid on common and preferred stock		(752)		(703)		(636)
Net cash used for financing activities		(1,425)		(3,470)		(2,903)
Increase (decrease) in cash, cash equivalents and restricted cash		409		(27)		380
Cash, cash equivalents and restricted cash, at the beginning of the period		3,175		3,202		2,822
Cash, cash equivalents and restricted cash, at the end of the period		3,584		3,175		3,202	$ 2,822
Reconciliation of cash, cash equivalents and restricted cash
Cash and cash equivalents		3,509	[2]	3,155	[2]	3,182
Restricted cash		75		20		20
Cash paid during the period for:
Interest expense		175		159		156
Income taxes, net of income tax refunds		$ 22		$ (39)		$ (70)
[1] Subsequent to the issuance of the audited financial statements for the year ended December 31, 2021, the Company identified an immaterial classification error within cash flows (used for)/provided by investing activities. The correction of this error had no impact on the net cash (used for)/provided by investing activities. Management has evaluated the materiality of this misstatement and concluded it was not material to the prior period. The Parent Company had $3.5 billion and $3.1 billion in a money market deposit account at Discover Bank as of December 31, 2023 and 2022, respectively, which is included in cash and cash equivalents. These funds are available to the Parent for liquidity purposes. (2) The Parent Company had a balance of $1.3 billion representing advances to Discover Bank as of December 31, 2023 and 2022, which is included in notes receivable from subsidiaries.

Immaterial Restatement of Pri_3

Immaterial Restatement of Prior Period Financial Statements (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Other assets	$ 5,667	$ 4,597
Total assets	151,522	131,706
Accrued expenses and other liabilities	6,432	5,618
Total liabilities	136,694	117,362
Retained Earnings (Accumulated Deficit)	30,448	28,207
Stockholders’ equity	14,828	14,344	$ 13,180	$ 10,683	$ 11,674
Total liabilities and stockholders’ equity	151,522	131,706
Discount and interchange revenue, net	1,447	1,380	1,188
Other income	2,761	2,294	2,534
Other expense	680	540	620
Other expense	6,016	5,216	4,805
Income before income taxes	3,826	5,718	7,028
Income tax expense	886	1,344	1,606
Net income	2,940	4,374	5,422	1,125
Net income (loss) available to common stockholders, basic	$ 2,859	$ 4,286	$ 5,323
Basic earnings per common share	$ 11.27	$ 15.45	$ 17.75
Diluted earnings per common share	$ 11.26	$ 15.44	$ 17.74
Comprehensive income	$ 3,054	$ 4,129	$ 5,283
Deferred income taxes	(626)	(433)	318
Increase in accrued expenses and other liabilities	739	1,104	446
Net cash provided by operating activities	8,563	7,140	6,019
Parent Company [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Other assets	871	811
Total assets	20,012	18,307
Accrued expenses and other liabilities	323	359
Total liabilities	5,184	3,963
Stockholders’ equity	14,828	14,344
Total liabilities and stockholders’ equity	20,012	18,307
Other expense	(2)	6	10
Income tax expense	7	(25)	(25)
Net income	2,940	4,374	5,422
Comprehensive income	3,054	4,129	5,283
Deferred income taxes	2	(8)	(13)
Increase in accrued expenses and other liabilities	(41)	27	24
Net cash provided by operating activities	1,720	4,425	3,169
Investment in Bank Subsidiary		11,685
Investments in non-bank subsidiaries(3)	1,116	877
Equity in undistributed net income of subsidiaries	1,179	(242)	2,323
Equity in undistributed net income of subsidiaries	(1,179)	242	(2,323)
Retained Earnings [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Stockholders’ equity	30,448	28,207	24,538	19,754	21,105
Net income	$ 2,940	4,374	5,422	1,125
Previously Reported
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Other assets		4,519
Total assets		131,628
Accrued expenses and other liabilities		5,294
Total liabilities		117,038
Retained Earnings (Accumulated Deficit)		28,453
Stockholders’ equity		14,590	13,408	10,884	11,859
Total liabilities and stockholders’ equity		131,628
Discount and interchange revenue, net		1,424	1,224
Other income		2,338	2,570
Other expense		560	620
Other expense		5,236	4,805
Income before income taxes		5,742	7,064
Income tax expense		1,350	1,615
Net income		4,392	5,449	1,141
Net income (loss) available to common stockholders, basic		$ 4,304	$ 5,351
Basic earnings per common share		$ 15.52	$ 17.85
Diluted earnings per common share		$ 15.50	$ 17.83
Deferred income taxes		$ (427)	$ 327
Increase in accrued expenses and other liabilities		1,080	410
Net cash provided by operating activities		7,140	6,019
Previously Reported | Parent Company [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total assets		18,553
Stockholders’ equity		14,590
Total liabilities and stockholders’ equity		18,553
Net income		4,392	5,449
Comprehensive income		4,147	5,310
Net cash provided by operating activities		4,425	3,169
Investment in Bank Subsidiary		11,922
Investments in non-bank subsidiaries(3)		886
Equity in undistributed net income of subsidiaries		(224)	2,350
Equity in undistributed net income of subsidiaries		224	(2,350)
Previously Reported | Retained Earnings [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Stockholders’ equity		28,453	24,766	19,955	21,290
Net income		4,392	5,449	1,141
Revision of Prior Period, Error Correction, Adjustment
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Other assets		78
Total assets		78
Accrued expenses and other liabilities		324
Total liabilities		324
Retained Earnings (Accumulated Deficit)		(246)
Stockholders’ equity		(246)	(228)	(201)	(185)
Total liabilities and stockholders’ equity		78
Discount and interchange revenue, net		(44)	(36)
Other income		(44)	(36)
Other expense		(20)	0
Other expense		(20)	0
Income before income taxes		(24)	(36)
Income tax expense		(6)	(9)
Net income		(18)	(27)	(16)
Net income (loss) available to common stockholders, basic		$ (18)	$ (28)
Basic earnings per common share		$ (0.07)	$ (0.10)
Diluted earnings per common share		$ (0.06)	$ (0.09)
Deferred income taxes		$ (6)	$ (9)
Increase in accrued expenses and other liabilities		24	36
Net cash provided by operating activities		0	0
Revision of Prior Period, Error Correction, Adjustment | Parent Company [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Total assets		(246)
Stockholders’ equity		(246)
Total liabilities and stockholders’ equity		(246)
Net income		(18)	(27)
Comprehensive income		(18)	(27)
Net cash provided by operating activities		0	0
Investment in Bank Subsidiary		(237)
Investments in non-bank subsidiaries(3)		(9)
Equity in undistributed net income of subsidiaries		(18)	(27)
Equity in undistributed net income of subsidiaries		18	27
Revision of Prior Period, Error Correction, Adjustment | Retained Earnings [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Stockholders’ equity		(246)	(228)	(201)	$ (185)
Net income		$ (18)	$ (27)	$ (16)

Subsequent Events (Details)

Subsequent Events (Details) - Subsequent Event [Member] - Discover Financial Services - Capital One Financial Corporation $ in Millions	2 Months Ended
	Feb. 19, 2024 USD ($) numberOfDirectors
Subsequent Event [Line Items]
Business Combination, Price of Acquisition, Expected | $	$ 35,300
Business Acquisition, Number of Common Stock Shares Issued for each Share of Acquiree Stock	1.0192
Business Acquisition Acquirer's Percentage Ownership in Combined Entity	0.60
Business Acquisition Acquiree's Percentage Ownership in Combined Entity	0.40
Business Acquisition, Number of Directors on Combined Entity BOD	15
Business Acquisition, Number of Directors on Combined Entity BOD from Acquirer	12
Business Acquisition, Number of Directors on Combined Entity BOD from Acquiree	3