v3.24.4
Parent Company Condensed Financial Information (Schedule of Parent Company Condensed Statements of Cash Flows) (Details) - USD ($)
$ in Millions
 3 Months Ended 6 Months Ended 9 Months Ended 12 Months Ended
Dec. 31, 2023
Sep. 30, 2023
Jun. 30, 2023
Mar. 31, 2023
Dec. 31, 2022
Sep. 30, 2022
Jun. 30, 2022
Mar. 31, 2022
Jun. 30, 2023
Jun. 30, 2022
Sep. 30, 2023
Sep. 30, 2022
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Cash flows provided by operating activities                              
Net income $ 366 $ 586 $ 889 $ 955 $ 1,011 $ 998 $ 1,088 $ 1,219 $ 1,844 $ 2,307 $ 2,430 $ 3,305 $ 2,796 $ 4,316 $ 5,388
Adjustments to reconcile net income to net cash provided by operating activities:                              
Deferred income taxes       (119)       (17) (277) (154) (508) (331) (671) (452) 308
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       (359)       249 (779) 361 (30) 383 928 1,181 490
Net cash provided by operating activities       1,791       1,734 3,298 3,346 5,687 4,965 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 8,897 11,332 8,897 11,332 8,897 11,332 13,589
Cash, cash equivalents and restricted cash, at the end of the period 11,728       8,897               11,728 8,897 11,332
Reconciliation of cash, cash equivalents and restricted cash                              
Cash and cash equivalents 11,685       8,856               11,685 8,856 8,750
Restricted cash 43       41               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                         2,796 4,316 5,388
Adjustments to reconcile net income to net cash provided by operating activities:                              
Equity in undistributed net income of subsidiaries                         (1,035) 300 (2,289)
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
Decrease (increase) in loans to subsidiaries                         (109)   (114)
Decrease (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 $ 3,175 $ 3,202 $ 3,175 $ 3,202 3,175 3,202 2,822
Cash, cash equivalents and restricted cash, at the end of the period 3,584       3,175               3,584 3,175 3,202
Reconciliation of cash, cash equivalents and restricted cash                              
Cash and cash equivalents 3,509 [2]       3,155 [2]               3,509 [2] 3,155 [2] 3,182
Restricted cash $ 75       $ 20               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.
[2] 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