Capital One 2008 Annual Report Download - page 169

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151
Note 25
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
2008
2007
Assets: .................................................................................................................................................
.
Cash and cash equivalents ...................................................................................................................
.
$ 8,546,995
$ 24,702
Investment in subsidiaries....................................................................................................................
.
25,323,057
26,916,546
Loans to subsidiaries............................................................................................................................
.
1,189,173
6,604,075
Securities available for sale .................................................................................................................
.
6,840
16,420
Other ....................................................................................................................................................
.
983,920
566,297
Total assets .................................................................................................................................
.
$ 36,049,985 $ 34,128,040
Liabilities:
Senior and subordinated notes .............................................................................................................
.
$ 6,385,417
$ 7,187,007
Other borrowings .................................................................................................................................
.
1,652,948
1,921,295
Other ....................................................................................................................................................
.
1,399,187
725,626
Total liabilities............................................................................................................................
.
9,437,552
9,833,928
Stockholders Equity:
Preferred stock .....................................................................................................................................
.
3,096,466
Common stock .....................................................................................................................................
.
4,384
4,192
Paid-in-capital, net...............................................................................................................................
.
17,278,092
15,860,490
Retained earnings.................................................................................................................................
.
9,399,378
11,582,816
Less: Treasury stock, at cost.......................................................................................................
.
(3,165,887) (3,153,386)
Stockholders equity...................................................................................................................
.
26,612,433
24,294,112
Total liabilities and stockholders equity....................................................................................
.
$ 36,049,985 $ 34,128,040
Year Ended December 31
Statements of Income
2008
2007
2006
Interest from temporary investments ........................................................................... $ 184,234 $ 300,394 $ 323,870
Interest expense............................................................................................................ 424,541
504,708 265,585
Dividends, principally from bank subsidiaries............................................................. 1,546,810
2,056,639 1,950,000
Non-interest income..................................................................................................... 110,911
12,982 4,807
Non-interest expense.................................................................................................... 137,265
241,660 129,491
Income before income taxes and equity in undistributed earnings of subsidiaries ...... 1,280,149 1,623,647 1,883,601
Income tax (benefit) expense ....................................................................................... (93,552) (245,052) (67,653)
Equity in undistributed earnings (loss) of subsidiaries ................................................ (1,289,184) 723,020 475,123
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