Capital One 2008 Annual Report Download - page 168
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150
Note 23
International Activities
The Companys international activities are primarily performed through Capital One Bank (Europe) plc, a subsidiary bank of COBNA
that provides consumer lending and other financial products in Europe and Capital One BankCanada Branch, a foreign branch
office of COBNA 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.
2008
2007
2006(2)
Domestic
Total Assets .......................................................................................................
.
$ 161,665,713 $ 145,033,862 $ 145,056,455
Revenue(1) ...........................................................................................................
.
12,960,673
13,322,220 10,970,257
Income from continuing operations before income taxes ..................................
.
529,211
3,686,462 3,618,268
Income from continuing operations, net of tax ..................................................
.
44,363
2,465,718 2,391,205
Loss from discontinued operations, net of tax ...................................................
.
(130,515) (1,021,387) (11,884)
Net Income (Loss) .............................................................................................
.
(86,152) 1,444,331 2,379,321
International
Total Assets .......................................................................................................
.
4,247,739
5,556,507 4,682,830
Revenue(1) ...........................................................................................................
.
932,013
1,261,848 1,122,213
Income before income taxes ..............................................................................
.
52,408
183,094 54,073
Net Income.........................................................................................................
.
40,154
126,001 35,172
Total Company
Total Assets .......................................................................................................
.
$ 165,913,452 $ 150,590,369 $ 149,739,285
Revenue(1) ...........................................................................................................
.
13,892,686
14,584,068 12,092,470
Income from continuing operations before income taxes ..................................
.
581,619
3,869,556 3,672,341
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
(1) Revenue is net interest income plus non-interest income.
(2) Certain prior period amounts have been reclassified to conform with current period presentation.
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 Companys domestic operations, estimates and
assumptions have been made to assign certain expense items between domestic and foreign operations.
Note 24
Related Party Transactions
In the ordinary course of business, executive officers, directors, and principal shareholders, also known as Regulation O Insiders, of
the Company may have consumer loans issued by the Company. Pursuant to the Companys policy, such loans are issued on the same
terms as those prevailing at the time for comparable loans to unrelated persons and do not involve more than the normal risk of
collectibility.