Capital One 2007 Annual Report Download - page 40

Download and view the complete annual report

Please find page 40 of the 2007 Capital One annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 147

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100
  • 101
  • 102
  • 103
  • 104
  • 105
  • 106
  • 107
  • 108
  • 109
  • 110
  • 111
  • 112
  • 113
  • 114
  • 115
  • 116
  • 117
  • 118
  • 119
  • 120
  • 121
  • 122
  • 123
  • 124
  • 125
  • 126
  • 127
  • 128
  • 129
  • 130
  • 131
  • 132
  • 133
  • 134
  • 135
  • 136
  • 137
  • 138
  • 139
  • 140
  • 141
  • 142
  • 143
  • 144
  • 145
  • 146
  • 147

18
amortization could, among other things, have a significant effect on the ability of certain of our business entities to meet the capital
adequacy requirements as all off-balance sheet loans experiencing such early amortization would have to be recorded on the balance
sheet. See Item 7 Managements Discussion and Analysis of Financial Condition and Results of OperationsLiquidity Risk
Management.
Our Stock Price May be Volatile
Capital Ones stock price has been volatile in the past and several factors could cause the price to fluctuate significantly in the future.
These factors may be unrelated to our performance. General market price declines or market volatility in the future, including the
impact of cyclical economic slowdowns, could adversely affect the market price of our stock.
Item 1B. Unresolved Staff Comments.
Not applicable.
Item 2. Properties.
Our real estate portfolio is used to support all of our business segments. We own the 570,000 square foot headquarters building
located at 1680 Capital One Drive in McLean, Virginia. The building is located on a 31 acre land parcel and houses our executive
offices and Northern Virginia staff.
We own approximately 316 acres of land in Goochland County, Virginia purchased for the construction of an office campus (the
West Creek Campus) to consolidate certain operations in the Richmond area. The Company has seven office buildings, a support
facility and a training center at the West Creek Campus. Totaling nearly 1.2 million square feet, the West Creek Campus houses
multiple business and staff groups. Ample land availability provides the flexibility for further expansion should business demand
increase. Another 460,000 square feet in office, data and production space is owned in Richmond, Virginia, along with a 344,075
square foot facility in Nottingham, United Kingdom, from which we conduct credit, collections, customer service and other
operations.
Our businesses also occupy leased space totaling, in the aggregate, approximately 450,000 square feet in locations across Richmond,
Virginia; Toronto, Canada; and the United Kingdom.
Our Local Banking segments office and branch operations are conducted primarily utilizing approximately 3.4 million square feet in
owned properties and 3.7 million square feet in leased locations across Louisiana, New Jersey, New York and Texas. Portions of the
office portfolio are sub-leased where internal demand permits. Additionally, to support our mortgage and Home Loan businesses, we
lease facilities totaling approximately 310,600 square feet in California and Kansas. We also own a property of approximately 35,000
square feet in Columbus, Georgia.
Within our National Lending segment, our Auto Finance business occupies just over 700,000 square feet of leased office space in
various locations including California, Florida, Georgia, Illinois, Louisiana, Michigan, Oklahoma and Pennsylvania, with the majority
of such space in Texas. An additional 73,000 square feet of leased space in Boston and Framingham, Massachusetts supports other
National Lending businesses.
Item 3. Legal Proceedings.
The information required by Item 3 is included in Item 8, Financial Statements and Supplementary DataNotes to the Consolidated
Financial StatementsNote 21.
Item 4. Submission of Matters to a Vote of Security Holders.
During the fourth quarter of our fiscal year ending December 31, 2007, no matters were submitted for a vote of our stockholders.