Capital One 2006 Annual Report Download - page 130

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112
Note 26
International Activities
The Companys international activities are primarily performed through Capital One Bank (Europe) plc, a subsidiary bank of
the Bank that provides consumer lending and other financial products in Europe and Capital One BankCanada Branch, a
foreign branch office of the Bank that provides consumer lending products in Canada. The total assets, revenue, income
before income taxes and net income of the international operations are summarized below.
2006 2005 2004
Domestic
Total Assets $ 145,056,455 $ 83,447,512 $ 48,117,413
Revenue(1) 11,099,121 8,950,059 7,873,218
Income before income taxes 3,598,658 2,666,491 2,118,067
Net Income 2,379,321 1,674,061 1,369,082
International
Total Assets 4,682,830 5,253,899 5,629,842
Revenue(1) 997,241 1,088,288 1,029,917
Income before income taxes 54,073 162,511 241,997
Net Income 35,172 135,086 174,400
Total Company
Total Assets $ 149,739,285 $ 88,701,411 $ 53,747,255
Revenue(1) 12,096,362 10,038,347 8,903,135
Income before income taxes 3,652,731 2,829,002 2,360,064
Net Income 2,414,493 1,809,147 1,543,482
(1) Revenue equals net interest income plus non-interest income.
The Company maintains its books and records on a legal entity basis for the preparation of financial statements in conformity
with GAAP. Because certain international operations are integrated with many of the Companys domestic operations,
estimates and assumptions have been made to assign certain expense items between domestic and foreign operations.
Note 27
Capital One Financial Corporation (Parent Company Only)
Condensed Financial Information
The following Parent Company Only financial statements are provided in accordance with Regulation S-X of the Securities
and Exchange Commission which requires all issuers or guarantors of registered securities to include separate annual
financial statements.
December 31
Balance Sheets 2006 2005
Assets:
Cash and cash equivalents $ 239,473 $ 2,683
Investment in subsidiaries 28,131,614 13,175,657
Loans to subsidiaries(1) 4,673,409 3,607,787
Other 353,862 162,500
Total assets $ 33,398,358 $ 16,948,627
Liabilities:
Senior and subordinated notes $ 6,205,821 $ 2,372,086
Borrowings from subsidiaries 1,754,419 374,922
Other 202,912 72,705
Total liabilities 8,163,152 2,819,713
Stockholders equity 25,235,206 14,128,914
Total liabilities and stockholders equity $ 33,398,358 $ 16,948,627
(1) As of December 31, 2006 and 2005, includes $2.7 billion and $1.3 billion, respectively, of cash invested at the Bank instead of the open market.