Capital One 2003 Annual Report Download - page 93
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Note E
Premises and Equipment
Premises and equipment were as follows:
December 31
2003 2002
Land $ 111,288 $ 103,954
Buildings and improvements 610,419 437,023
Furniture and equipment 844,447 773,092
Computer software 348,789 298,208
In process 182,741 92,550
2,097,684 1,704,827
Less: Accumulated depreciation and amortization (1,195,084) (934,501)
Total premises and equipment, net $ 902,600 $ 770,326
Depreciation and amortization expense was $260.6 million, $264.8 million, and $236.0 million, for the years
ended December 31, 2003, 2002 and 2001, respectively.
Note F
Borrowings
Borrowings as of December 31, 2003 and 2002 were as follows:
2003 2002
Outstanding
Weighted
Average
Rate Outstanding
Weighted
Average
Rate
Interest-bearing deposits $22,416,332 4.03% $17,325,965 4.65%
Senior notes
Bank—fixed rate $ 5,242,507 6.37% $ 3,723,200 7.00%
Bank—variable rate 20,000 2.41 275,000 2.31
Mandatory convertible securities 730,580 6.25 718,278 6.25
Corporation 1,022,933 7.37 849,137 7.75
Total $ 7,016,020 $ 5,565,615
Other borrowings
Secured borrowings $ 6,415,697 2.59% $ 4,814,030 3.41%
Facility financing 83,762 6.86 ——
Junior subordinated capital income securities 99,207 2.71 98,950 3.26
Federal funds purchased and resale agreements 45,000 0.97 554,887 1.26
Other short-term borrowings 1,152,947 1.44 897,208 2.09
Total $ 7,796,613 $ 6,365,075
Interest-Bearing Deposits
As of December 31, 2003, the Company had $22.4 billion in interest-bearing deposits of which $10.9 billion
represented large denomination certificates of $100 thousand or more, with original maturities of up to ten years.
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