Capital One 2008 Annual Report Download - page 100

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CONSOLIDATED STATEMENTS OF INCOME
Year Ended December 31 (In Thousands, Except Per Share Data)
2008 2007 2006
Interest Income:
Loans held for investment, including past-due fees.....................................................$ 9,460,378 $ 9,500,128 $ 7,046,473
Securities available for sale ......................................................................................... 1,224,012 950,972 676,712
Other ............................................................................................................................ 427,609 627,056 441,550
Total interest income.................................................................................................... 11,111,999 11,078,156 8,164,735
Interest Expense:
Deposits ....................................................................................................................... 2,512,040 2,906,351 1,814,797
Senior and subordinated notes ..................................................................................... 444,854 577,128 411,643
Other borrowings ......................................................................................................... 1,006,390 1,064,832 846,849
Total interest expense .................................................................................................. 3,963,284 4,548,311 3,073,289
Net interest income ...................................................................................................... 7,148,715 6,529,845 5,091,446
Provision for loan and lease losses .............................................................................. 5,101,040 2,636,502 1,476,438
Net interest income after provision for loan and lease losses ...................................... 2,047,675 3,893,343 3,615,008
Non-Interest Income:
Servicing and securitizations ....................................................................................... 3,384,468 4,840,677 4,209,637
Service charges and other customer-related fees ......................................................... 2,232,363 2,057,854 1,770,340
Mortgage servicing and other ...................................................................................... 105,038 166,776 177,893
Interchange .................................................................................................................. 562,117 500,484 549,074
Other ............................................................................................................................ 459,985 488,432 294,080
Total non-interest income ............................................................................................ 6,743,971 8,054,223 7,001,024
Non-Interest Expense:
Salaries and associate benefits ..................................................................................... 2,335,737 2,592,534 2,224,676
Marketing..................................................................................................................... 1,118,208 1,347,836 1,444,324
Communications and data processing.......................................................................... 755,989 758,820 712,001
Supplies and equipment ............................................................................................... 519,687 531,238 460,419
Occupancy ................................................................................................................... 377,192 322,510 215,636
Restructuring expense.................................................................................................. 134,464 138,237 
Goodwill impairment................................................................................................... 810,876  
Other ............................................................................................................................ 2,157,874 2,386,835 1,886,635
Total non-interest expense ........................................................................................... 8,210,027 8,078,010 6,943,691
Income from continuing operations before income taxes ............................................ 581,619 3,869,556 3,672,341
Income taxes ................................................................................................................ 497,102 1,277,837 1,245,964
Income from continuing operations, net of tax ............................................................ 84,517 2,591,719 2,426,377
Loss from discontinued operations, net of tax ............................................................. (130,515) (1,021,387) (11,884)
Net income (loss).........................................................................................................$ (45,998) $ 1,570,332 $ 2,414,493
Net income (loss) available to common shareholders..................................................$ (78,721) $ 1,570,332 $ 2,414,493
Basic earnings per common share
Income from continuing operations .............................................................................$ 0.14 $ 6.64 $ 7.84
Loss from discontinued operations .............................................................................. (0.35) (2.62) (0.04)
Net income (loss) per common share...........................................................................$ (0.21) $ 4.02 $ 7.80
Diluted earnings per common share
Income from continuing operations .............................................................................$ 0.14 $ 6.55 $ 7.65
Loss from discontinued operations .............................................................................. (0.35) (2.58) (0.03)
Net income (loss) per common share...........................................................................$ (0.21) $ 3.97 $ 7.62
Dividends paid per common share...............................................................................$ 1.50 $ 0.11 $ 0.11
See Notes to Consolidated Financial Statements.