Capital One 2005 Annual Report Download - page 33

rebuilding and economic recovery in the region generally, the extent to which the hurricanes’ property damage is covered by
surance, and the pace at which Hibernia restores its business operations in the various markets in which it operates. in
None of the effects described above can be accurately predicted or quantified. As a result, significant uncertainty remains
regarding the impact the hurricanes will have on the business, financial condition and results of operations of the combined
company and the ability of the combined company to realize the anticipated benefits from the merger. Further, the area in
which Hibernia operates may experience hurricanes and other storms in the future, and some of those hurricanes and storms
ay have effects similar to those caused by the Gulf Coast hurricanes. m
I em 1B. Unresolved Staff Comments. t
Not applicable.
Item 2. Properties.
We lease our 570,000 square foot headquarters building on 31 acres of land at 1680 Capital One Drive, McLean, Virginia.
The building houses our primary executive offices and Northern Virginia staff and is leased through December 2010. In
December 2005, we exercised our option to purchase the headquarters and land at a fixed cost; the purchase is expected to be
ompleted by the end of first quarter 2006. c
Additionally, we own approximately 316 acres of land in Goochland County, Virginia purchased for the construction of an
office campus to consolidate certain operations in the Richmond area. In 2002, two office buildings and a support facility
consisting of approximately 365,000 square feet were completed and occupied. In 2003 four office buildings and a training
center consisting of approximately 690,000 square feet were completed and occupied. In 2004, one additional office building
consisting of approximately 130,000 square feet was completed and in 2005, it was occupied.
Other owned facilities and land include approximately 1.8 million square feet in office buildings and approximately 350,000
square feet of land in Louisiana; approximately 800,000 square feet in office buildings and 780,000 square feet of land in
Texas; 460,000 square feet in office, data and production buildings in Richmond, Virginia; and a 344,075 square feet facility
in Nottingham, Great Britain, from which we conduct credit, collections, customer service and other operations.
We currently lease approximately 1.8 million square feet of office space from which credit, collections, customer service,
banking and other operations are conducted, in Alabama, California, Idaho, Illinois, Kansas, Louisiana, Massachusetts,
Mississippi, Tennessee, Texas, Virginia, the United Kingdom, Canada, and insignificant space for business development in
other locations. We are currently migrating out of approximately 343,000 square feet of leased office space and into our
campuses in McLean, Virginia and Goochland County, Virginia. Additionally we have leased approximately 933,946 square
feet of land in Louisiana and Texas.
Generally, we use our properties to support all of our business segments, although our properties located outside of the U.S.
are used principally to support our Global Financial Services segment, our properties in California are used principally to
support our Auto Finance segment, and our properties in Louisiana, Alabama and Mississippi are used principally to support
ur Banking business. Our properties in Texas are used to support both our Auto Finance segment and our Banking business. o
I em 3. Legal Proceedings. t
The information required by Item 3 is included in Item 8, “Financial Statements and Supplementary Data—Notes to the
onsolidated Financial Statements—Note 19” on pages 92-94. C
I em 4. Submission of Matters to a Vote of Security Holders. t
During the fourth quarter of our fiscal year ending December 31, 2005, no matters were submitted for a vote of our
stockholders.
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