Capital One 2006 Annual Report Download - page 44

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26
Item 6. Selected Financial Data
(Dollars in millions, Except Per Share Data) 2006 2005 2004 2003 2002
Five Year
Compound
Growth Rate
Income Statement Data:
Interest income $ 8,194.2
$ 5,726.9 $ 4,794.4 $ 4,367.7 $ 4,180.8 22.91%
Interest expense 3,094.6
2,046.6 1,791.4 1,582.6 1,461.7 21.45%
Net interest income 5,099.6
3,680.3 3,003.0 2,785.1 2,719.1 23.85%
Provision for loan losses 1,476.4
1,491.1 1,220.9 1,517.5 2,149.3 5.67%
Net interest income after provision for loan losses 3,623.2
2,189.2 1,782.1 1,267.6 569.8 41.91%
Non-interest income 6,996.7
6,358.1 5,900.2 5,415.9 5,466.8 9.41%
Non-interest expense 6,967.2
5,718.3 5,322.2 4,856.7 4,585.6 11.42%
Income before income taxes and cumulative effect
of accounting change 3,652.7
2,829.0 2,360.1 1,826.8 1,451.0 28.68%
Income taxes 1,238.2
1,019.9 816.6 676.0 551.4 25.77%
Income before cumulative effect of accounting
change 2,414.5
1,809.1 1,543.5 1,150.8 899.6 30.33%
Cumulative effect of accounting change, net of
taxes of $8.8 15.0
Net income $ 2,414.5
$ 1,809.1 $ 1,543.5 $ 1,135.8 $ 899.6 30.33%
Dividend payout ratio 1.34% 1.52% 1.66% 2.14% 2.61%
Per Common Share:
Basic earnings per share $ 7.80
$ 6.98 $ 6.55 $ 5.05 $ 4.09 20.58%
Diluted earnings per share 7.62
6.73 6.21 4.85 3.93 21.23%
Dividends 0.11
0.11 0.11 0.11 0.11
Book value as of year-end 61.56
46.97 33.99 25.75 20.44
Selected Year-End Reported Balances:
Liquidity portfolio $ 27,730.3 $ 16,491.6(1) $ 10,359.1 $ 7,464.7 $ 5,064.9 51.56%
Loans held for investment 96,512.1
59,847.7 38,215.6 32,850.3 27,343.9 35.77%
Allowance for loan losses (2,180.0) (1,790.0) (1,505.0) (1,595.0) (1,720.0) 21.01%
Total assets 149,739.3 88,701.4 53,747.3 46,283.7 37,382.4 39.66%
Interest-bearing deposits 74,122.8
43,092.1 25,636.8 22,416.3 17,326.0 42.00%
Total deposits 85,770.9
47,933.3 25,636.8(2) 22,416.3(2) 17,326.0(2) 46.20%
Borrowings 33,982.5
22,278.1 16,511.8 14,812.6 11,930.7 29.50%
Stockholders equity 25,235.2
14,128.9 8,388.2 6,051.8 4,623.2 50.00%
Selected Average Reported Balances:
Liquidity portfolio $ 18,794.4 $ 12,797.1(1) $ 10,525.0 $ 6,961.2 $ 4,467.7 43.97%
Loans held for investment 63,577.3
40,734.2 34,265.7 28,677.6 25,036.0 29.76%
Allowance for loan losses (1,791.2) (1,482.9) (1,473.0) (1,627.0) (1,178.2) 22.94%
Total assets 95,809.8
61,360.5 50,648.1 41,195.4 34,201.7 32.63%
Interest-bearing deposits 45,739.0
28,370.7 24,313.3 19,768.0 15,606.9 34.55%
Total deposits 50,673.4
29,019.7 24,313.3(2) 19,768.0(2) 15,606.9(2) 37.33%
Borrowings 24,724.5
18,031.9 15,723.6 12,978.0 11,381.1 25.14%
Stockholders equity 16,203.4
10,594.3 7,295.5 5,323.5 4,148.2 42.26%
Reported Metrics:
Revenue margin 14.31% 18.08(1)% 19.08% 21.95% 26.28%
Net interest margin 6.03
6.63(1) 6.44 7.45 8.73
Delinquency rate 2.74
3.14 3.85 4.79 6.12
Net charge-off rate 2.21
3.55 3.78 5.74 5.03
Return on average assets 2.52
2.95 3.05 2.76 2.63
Return on average equity 14.90
17.08 21.16 21.34 21.69
Average equity to average assets 16.91
17.27 14.40 12.92 12.13
Operating expense as a % of average loans 8.69
10.65 11.63 13.04 14.04
Allowance for loan losses to loans 2.26
2.99 3.94 4.86 6.29
Managed Metrics:
Revenue margin 10.63% 12.45(1)% 12.89% 14.65% 16.93%
Net interest margin 6.86
7.80(1) 7.88 8.64 9.23
Delinquency rate 3.02
3.24 3.82 4.46 5.60
Net charge-off rate 2.84
4.25 4.41 5.86 5.24
Return on average assets 1.69
1.72 1.73 1.52 1.47
Operating expense as a % of average loans 4.96
5.09 5.41 5.94 6.66
Average loans held for investment $ 111,328.6 $ 85,265.0 $ 73,711.7 $ 62,911.9 $ 52,799.6 25.60%
Year-end loans held for investment $ 146,151.3 $ 105,527.5 $ 79,861.3 $ 71,244.8 $ 59,746.5 26.42%
Year-end total loan accounts 50.0
49.7 48.6 47.0 47.4 2.68%
(1) Prior period amounts have been reclassified to conform with current period presentation.
(2) Non-interest bearing deposits for the years 20022004 were included in other liabilities.