In connection with convertibles, it stands for discount reverse convertible; a reverse convertible which consists of a zero-coupon bond (discount bond) and a plain vanilla put option. The investor issues the put option (short put) to the issuer so that the latter can put the reverse convertible (redeem it) before the end of its term. The convertible pays no coupons over its life or up to the redemption date. However, the investor will receive the difference between the par value and the below-par sale price.
In a different context, it may denote depreciated replacement cost, which is by definition, the current cost of reproduction or replacement of an asset as a result of wear and tear/ obsolescence/ optimization, after adjustment for accumulated depreciation. It is meant to account for the continuous deterioration of future economic benefits that can be gained from the use of a respective asset.
