Capital One 2004 Annual Report Download - page 8

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Percent
(Dollars in millions, Except Per Share Data) 2004 2003 Change
Income Statement Data:
Interest income $ 4,794.4 $ 4,367.7 9.77%
Interest expense 1,791.4 1,582.6 13.20
Net interest income 3,003.0 2,785.1 7.82
Provision for loan losses 1,220.9 1,517.5 -19.55
Net interest income after provision for loan losses 1,782.1 1,267.6 40.59
Non-interest income 5,900.2 5,415.9 8.94
Non-interest expense 5,322.2 4,856.7 9.58
Income before income taxes and cumulative
effect of accounting change 2,360.1 1,826.8 29.19
Income taxes 816.6 676.0 20.79
Income before cumulative effect of accounting change 1,543.5 1,150.8 34.12
Cumulative effect of accounting change, net of taxes of $8.8 —15.0 -100.00
Net income $ 1,543.5 $ 1,135.8 35.90
Dividend payout ratio 1.66 % 2.14 %
Per Common Share:
Basic earnings per share $ 6.55 $ 5.05 29.70
Diluted earnings per share 6.21 4.85 28.04
Dividends 0.11 0.11 0.00
Book value as of year-end 33.99 25.75 32.00
Selected Year-End Reported Balances:
Liquidity portfolio $ 10,384.1 $ 7,464.7 39.11
Consumer loans 38,215.6 32,850.3 16.33
Allowance for loan losses (1,505.0) (1,595.0) -5.64
Total assets 53,747.3 46,283.7 16.13
Interest-bearing deposits 25,636.8 22,416.3 14.37
Borrowings 9,637.0 14,812.6 -34.94
Stockholders’ equity 8,388.2 6,051.8 38.61
Selected Average Reported Balances:
Liquidity portfolio $ 10,528.6 $ 6,961.2 51.25
Consumer loans 34,265.7 28,677.6 19.49
Allowance for loan losses (1,473.0) (1,627.0) -9.47
Total assets 50,648.1 41,195.4 22.95
Interest-bearing deposits 24,313.3 19,768.0 22.99
Borrowings 8,520.2 12,978.0 -34.35
Stockholders’ equity 7,295.5 5,323.5 37.04
Reported Metrics:
Revenue margin 19.08 % 21.95 %
Net interest margin 6.44 7.45
Delinquency rate 3.85 4.79
Net charge-off rate 3.78 5.74
Return on average assets 3.05 2.76
Return on average equity 21.16 21.34
Average equity to average assets 14.40 12.92
Operating expense as a % of average loans 11.63 13.04
Allowance for loan losses to consumer loans 3.94 4.86
Managed Metrics:
Revenue margin 12.89 % 14.65 %
Net interest margin 7.88 8.64
Delinquency rate 3.82 4.46
Net charge-off rate 4.41 5.86
Return on average assets 1.73 1.52
Operating expense as a % of average loans 5.41 5.94
Average consumer loans $ 73,711.7 $ 62,911.9 17.17
Year-end consumer loans 79,861.3 71,244.8 12.09
Year-end total accounts 48.6 47.0 3.26