Capital One 2002 Annual Report Download - page 63

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61
Collateralized Revolving Credit Facilities
In April 2002, COAF entered into a $2.2 billion revolving warehouse credit
facility collateralized by a security interest in certain consumer loan assets.
The warehouse credit facility has several participants each with a separate
renewal date. The facility does not have a final maturity date. Instead, each
participant may elect to renew the commitment for another set period of
time. All participants have renewal dates occurring in 2003. Interest on the
facility is based on commercial paper rates. At December 31, 2002, $894.0
million was outstanding under the facility.
In October 2001, PeopleFirst entered into a $500.0 million revolving credit
facility collateralized by a security interest in certain consumer loan assets.
Interest on the facility is based on London InterBank Offering Rates
(“LIBOR”). The facility matured in March 2002. At December 31, 2001,
$.4 million was outstanding under the facility.
Interest-bearing deposits, senior notes and other borrowings as of December
31, 2002, mature as follows:
Interest-Bearing Other
Deposits Senior Notes Borrowings Total
2003 $ 4,880,378 $ 1,059,917 $ 2,747,137 $ 8,687,432
2004 3,498,878 1,030,198 1,423,781 5,952,857
2005 3,183,808 1,531,909 992,358 5,708,075
2006 2,398,802 1,244,389 717,988 4,361,179
2007 3,109,352 299,805 477,988 3,887,145
Thereafter 254,747 399,397 5,823 659,967
Total $ 17,325,965 $ 5,565,615 $ 6,365,075 $ 29,256,655
Note G Stock Plans
STOCK-BASED COMPENSATION PLANS
The Company has five stock-based compensation plans, three employee
plans and two non-employee directors plans. Under the plans, the Company
reserves common shares for the issuance in various forms to include incentive
stock options, nonstatutory stock options, stock appreciation rights,
restricted stock awards and incentive stock awards. The form of stock
compensation is specific to each plan. Generally the exercise price of each
stock option will equal or exceed the market price of the Company’s stock on
the date of grant, the maximum term will be ten years, and vesting is
determined at the time of grant, typically either 33 1/3 percent per year
beginning with the first anniversary of the grant date for options, three years
from the time of grant for restricted stock or accelerated vesting option grants
as described below.
The following table provides the number of reserved common shares and the
number of common shares available for future issuance for each of the
Company’s stock-based compensation plans as of December 31, 2002, 2001
and 2000:
Available For Issuance
Shares
Plan Name Reserved 2002 2001 2000
2002 Non-Executive
Officer Stock
Incentive Plan 8,500,000 2,167,450 --
1999 Stock Incentive Plan 600,000 322,300 305,350 294,800
1994 Stock Incentive Plan 67,112,640 2,186,615 2,770,459 1,221,281
1999 Non-Employee
Directors Stock
Incentive Plan 825,000 220,000 22,510 27,510
1995 Non-Employee
Directors Stock
Incentive Plan(1) 600,000 - - -
(1 ) The plan’s ability to issue grants was terminated in 1999.
There are currently 457,500 options outstanding under the plan.