Capital One 2008 Annual Report Download - page 43

25
We Face Risks From The Use Of Estimates In Our Financial Statements
Pursuant to United States Generally Accepted Accounting Principles (US GAAP), we are required to use certain assumptions and
estimates in preparing our financial statements, including in determining the fair value of certain assets and liabilities, among other
items. If the assumptions or estimates underlying the Companys financial statements are incorrect, the Company may experience
unexpected material losses. For a discussion of how we use estimates in accordance with US GAAP, please refer to Significant
Accounting Policies in Item 8 Financial Statements and Supplementary Data  Notes to the Financial Statements  Note 1.
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 587,000 square foot headquarters building
located at 1680 Capital One Drive in McLean, Virginia. The building houses our executive offices and Northern Virginia staff.
We own approximately 316 acres of land in Goochland County, Virginia which consolidates our Richmond operations and houses
various functions (the West Creek Campus). 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.
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 and Toronto, Canada.
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 businesses, we lease facilities
totaling approximately 261,000 square feet in California and Kansas. Additionally, our Auto Finance sub-segment leases just under
600,000 square feet of leased office space in various locations including California, Florida, Georgia, Illinois, Louisiana, Michigan
and Oklahoma with the majority of such space in Texas. An additional 73,000 square feet of leased space in Boston and Framingham,
Massachusetts supports other portions of the National Lending segments.
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 19.
Item 4. Submission of Matters to a Vote of Security Holders.
During the fourth quarter of our fiscal year ending December 31, 2008, no matters were submitted for a vote of our stockholders.