AMERICAN EXPRESS CO 10-K form for the fiscal year ended 2023-12-31, page 94: 
CONSOLIDATED STATEMENTS OF INCOME
|    |                                                                           |        |        |      |        |      |        |         |    |        |
|---:|:--------------------------------------------------------------------------|:-------|:-------|:-----|:-------|:-----|:-------|:--------|:---|:-------|
|  1 | Year Ended December 31 (Millions, except per share amounts)               | 2023   |        | 2022 |        | 2021 |        |         |    |        |
|  2 | Revenues                                                                  |        |        |      |        |      |        |         |    |        |
|  3 | Non-interest revenues                                                     |        |        |      |        |      |        |         |    |        |
|  4 | Discount revenue                                                          | $      | 33,416 |      |        | $    | 30,739 |         | $  | 24,563 |
|  5 | Net card fees                                                             | 7,255  |        |      | 6,070  |      |        | 5,195   |    |        |
|  6 | Service fees and other revenue                                            | 5,005  |        |      | 4,521  |      |        | 3,316   |    |        |
|  7 | Processed revenue                                                         | 1,705  |        |      | 1,637  |      |        | 1,556   |    |        |
|  8 | Total non-interest revenues                                               | 47,381 |        |      | 42,967 |      |        | 34,630  |    |        |
|  9 | Interest income                                                           |        |        |      |        |      |        |         |    |        |
| 10 | Interest on loans                                                         | 17,697 |        |      | 11,967 |      |        | 8,850   |    |        |
| 11 | Interest and dividends on investment securities                           | 128    |        |      | 96     |      |        | 83      |    |        |
| 12 | Deposits with banks and other                                             | 2,158  |        |      | 595    |      |        | 100     |    |        |
| 13 | Total interest income                                                     | 19,983 |        |      | 12,658 |      |        | 9,033   |    |        |
| 14 | Interest expense                                                          |        |        |      |        |      |        |         |    |        |
| 15 | Deposits                                                                  | 4,865  |        |      | 1,527  |      |        | 458     |    |        |
| 16 | Long-term debt and other                                                  | 1,984  |        |      | 1,236  |      |        | 825     |    |        |
| 17 | Total interest expense                                                    | 6,849  |        |      | 2,763  |      |        | 1,283   |    |        |
| 18 | Net interest income                                                       | 13,134 |        |      | 9,895  |      |        | 7,750   |    |        |
| 19 | Total revenues net of interest expense                                    | 60,515 |        |      | 52,862 |      |        | 42,380  |    |        |
| 20 | Provisions for credit losses                                              |        |        |      |        |      |        |         |    |        |
| 21 | Card Member receivables                                                   | 880    |        |      | 627    |      |        | (73)    |    |        |
| 22 | Card Member loans                                                         | 3,839  |        |      | 1,514  |      |        | (1,155) |    |        |
| 23 | Other                                                                     | 204    |        |      | 41     |      |        | (191)   |    |        |
| 24 | Total provisions for credit losses                                        | 4,923  |        |      | 2,182  |      |        | (1,419) |    |        |
| 25 | Total revenues net of interest expense after provisions for credit losses | 55,592 |        |      | 50,680 |      |        | 43,799  |    |        |
| 26 | Expenses                                                                  |        |        |      |        |      |        |         |    |        |
| 27 | Card Member rewards                                                       | 15,367 |        |      | 14,002 |      |        | 11,007  |    |        |
| 28 | Business development                                                      | 5,657  |        |      | 4,943  |      |        | 3,762   |    |        |
| 29 | Card Member services                                                      | 3,968  |        |      | 2,959  |      |        | 1,993   |    |        |
| 30 | Marketing                                                                 | 5,213  |        |      | 5,458  |      |        | 5,291   |    |        |
| 31 | Salaries and employee benefits                                            | 8,067  |        |      | 7,252  |      |        | 6,240   |    |        |
| 32 | Other, net                                                                | 6,807  |        |      | 6,481  |      |        | 4,817   |    |        |
| 33 | Total expenses                                                            | 45,079 |        |      | 41,095 |      |        | 33,110  |    |        |
| 34 | Pretax income                                                             | 10,513 |        |      | 9,585  |      |        | 10,689  |    |        |
| 35 | Income tax provision                                                      | 2,139  |        |      | 2,071  |      |        | 2,629   |    |        |
| 36 | Net income                                                                | $      | 8,374  |      |        | $    | 7,514  |         | $  | 8,060  |
| 37 | Earnings per Common Share - (Note 21)(a)                                  |        |        |      |        |      |        |         |    |        |
| 38 | Basic                                                                     | $      | 11.23  |      |        | $    | 9.86   |         | $  | 10.04  |
| 39 | Diluted                                                                   | $      | 11.21  |      |        | $    | 9.85   |         | $  | 10.02  |
| 40 | Average common shares outstanding for earnings per common share:          |        |        |      |        |      |        |         |    |        |
| 41 | Basic                                                                     |        |        |      | 751    |      |        | 789     |    |        |
| 42 | Diluted                                                                   |        |        |      | 752    |      |        | 790     |    |        |
(a)Represents net income less (i) earnings allocated to participating share awards of $64 million, $57 million and $56 million for the years ended December 31, 2023, 2022 and 2021, respectively, (ii) dividends on preferred shares of $58 million, $57 million and $71 million for the years ended December 31, 2023, 2022 and 2021, respectively, and (iii) equity-related adjustments of $16 million related to the redemption of preferred shares for the year ended December 31, 2021.

See Notes to Consolidated Financial Statements.

94




, Discover Financial Services 10-K form for the fiscal year ended 2023-12-31, page 86: 
DISCOVER FINANCIAL SERVICES


Consolidated Statements of Income

(dollars in millions, except for share amounts)|    |                                                       |                                  |        |      |        |      |        |        |    |       |
|---:|:------------------------------------------------------|:---------------------------------|:-------|:-----|:-------|:-----|:-------|:-------|:---|:------|
|  1 |                                                       | For the Years Ended December 31, |        |      |        |      |        |        |    |       |
|  2 |                                                       | 2023                             |        | 2022 |        | 2021 |        |        |    |       |
|  3 | Interest income                                       |                                  |        |      |        |      |        |        |    |       |
|  4 | Credit card loans                                     | $                                | 14,438 |      |        | $    | 10,632 |        | $  | 8,717 |
|  5 | Other loans                                           | 2,515                            |        |      | 1,870  |      |        | 1,734  |    |       |
|  6 | Investment securities                                 | 449                              |        |      | 179    |      |        | 182    |    |       |
|  7 | Other interest income                                 | 443                              |        |      | 183    |      |        | 18     |    |       |
|  8 | Total interest income                                 | 17,845                           |        |      | 12,864 |      |        | 10,651 |    |       |
|  9 | Interest expense                                      |                                  |        |      |        |      |        |        |    |       |
| 10 | Deposits                                              | 3,886                            |        |      | 1,257  |      |        | 661    |    |       |
| 11 | Short-term borrowings                                 | 5                                |        |      | 2      |      |        | -      |    |       |
| 12 | Long-term borrowings                                  | 855                              |        |      | 606    |      |        | 473    |    |       |
| 13 | Total interest expense                                | 4,746                            |        |      | 1,865  |      |        | 1,134  |    |       |
| 14 | Net interest income                                   | 13,099                           |        |      | 10,999 |      |        | 9,517  |    |       |
| 15 | Provision for credit losses                           | 6,018                            |        |      | 2,359  |      |        | 218    |    |       |
| 16 | Net interest income after provision for credit losses | 7,081                            |        |      | 8,640  |      |        | 9,299  |    |       |
| 17 | Other income                                          |                                  |        |      |        |      |        |        |    |       |
| 18 | Discount and interchange revenue, net                 | 1,447                            |        |      | 1,380  |      |        | 1,188  |    |       |
| 19 | Protection products revenue                           | 172                              |        |      | 172    |      |        | 165    |    |       |
| 20 | Loan fee income                                       | 763                              |        |      | 632    |      |        | 464    |    |       |
| 21 | Transaction processing revenue                        | 303                              |        |      | 249    |      |        | 227    |    |       |
| 22 | (Losses) gains on equity investments                  | (9)                              |        |      | (214)  |      |        | 424    |    |       |
| 23 | Other income                                          | 85                               |        |      | 75     |      |        | 66     |    |       |
| 24 | Total other income                                    | 2,761                            |        |      | 2,294  |      |        | 2,534  |    |       |
| 25 | Other expense                                         |                                  |        |      |        |      |        |        |    |       |
| 26 | Employee compensation and benefits                    | 2,434                            |        |      | 2,139  |      |        | 1,986  |    |       |
| 27 | Marketing and business development                    | 1,164                            |        |      | 1,035  |      |        | 810    |    |       |
| 28 | Information processing and communications             | 608                              |        |      | 513    |      |        | 500    |    |       |
| 29 | Professional fees                                     | 1,041                            |        |      | 871    |      |        | 797    |    |       |
| 30 | Premises and equipment                                | 89                               |        |      | 118    |      |        | 92     |    |       |
| 31 | Other expense                                         | 680                              |        |      | 540    |      |        | 620    |    |       |
| 32 | Total other expense                                   | 6,016                            |        |      | 5,216  |      |        | 4,805  |    |       |
| 33 | Income before income taxes                            | 3,826                            |        |      | 5,718  |      |        | 7,028  |    |       |
| 34 | Income tax expense                                    | 886                              |        |      | 1,344  |      |        | 1,606  |    |       |
| 35 | Net income                                            | $                                | 2,940  |      |        | $    | 4,374  |        | $  | 5,422 |
| 36 | Net income allocated to common stockholders           | $                                | 2,859  |      |        | $    | 4,286  |        | $  | 5,323 |
| 37 | Basic earnings per common share                       | $                                | 11.27  |      |        | $    | 15.45  |        | $  | 17.75 |
| 38 | Diluted earnings per common share                     | $                                | 11.26  |      |        | $    | 15.44  |        | $  | 17.74 |

See Notes to the Consolidated Financial Statements.

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Question: Compare the interest income generated by American Express and Discover Financial Services for the years 2021, 2022, and 2023.
Answer: For American Express, the interest income generated in 2021 was $9,033 million, which increased to $12,658 million in 2022, and further to $19,983 million in 2023. This indicates a significant growth in interest income over the three years. The primary components of interest income for American Express include interest on loans, interest and dividends on investment securities, and deposits with banks and other sources.

In contrast, Discover Financial Services reported total interest income of $10,651 million in 2021, which increased to $12,864 million in 2022, and further to $17,845 million in 2023. The primary components of interest income for Discover Financial Services include interest on credit card loans, other loans, investment securities, and other interest income.

Comparing the two companies, both American Express and Discover Financial Services experienced significant growth in interest income over the three years. However, American Express showed a more substantial increase in interest income, particularly in 2023, where it reported $19,983 million compared to Discover Financial Services' $17,845 million. The higher interest income for American Express indicates a stronger performance in generating interest-based revenue compared to Discover Financial Services.