Item 8.01 Other Events.
This position will be reported on Discover's balance sheet at fair value with
adjustments recorded through earnings in the non-interest income line item of
Discover's Payments segment. Discover's ability to dispose of its position in
Marqeta is subject to certain restrictions and holding periods, as described in
Marqeta's prospectus for its initial public offering that it filed with the
In anticipation of this recognition event, Discover has decided to accelerate certain marketing and non-marketing growth investments, beginning in the second quarter of 2021. As previously indicated, Discover is evaluating its capital return to shareholders in the second half of the year.
Statements included in this Current Report on Form 8-K that are not historical or current facts are "forward-looking statements" made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and are subject to certain risks and uncertainties that could cause actual gains, results and market performance to differ materially from historical gains, results and market performance and those presently anticipated or projected. Forward-looking statements can be identified by the use of such words as may, will, should, could, would, estimate, project, believe, intend, anticipate, plan, seek, expect and similar expressions. You should not rely upon forward-looking statements as predictions of future events. Although Discover believes that the expectations reflected in the forward-looking statements are reasonable, it cannot guarantee that the future gains, results, market performance or events and circumstances reflected in the forward-looking statements will be achieved or occur. Discover disclaims any obligation to subsequently revise any forward-looking statements to reflect events or circumstances after the date of such statements, or to reflect the occurrence of anticipated or unanticipated events.
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