Capital One 2008 Annual Report Download - page 69
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51
For additional information, see section XI, Tabular Summary, Table H.
VII. Reportable Segment Summary for Continuing Operations
We manage our business as two distinct operating segments: Local Banking and National Lending. The Local Banking and National
Lending segments are considered reportable segments based on quantitative thresholds applied to the managed loan portfolio for
reportable segments provided by SFAS No. 131, Disclosures about Segments of an Enterprise and Related Information.
As management makes decisions on a managed basis within each segment, information about reportable segments is provided on a
managed basis.
In 2007, the Company shut down mortgage origination operations of its wholesale mortgage banking unit, GreenPoint. The results of
the mortgage origination operations are being reported as discontinued operations for each period presented, and are not included in
segment results of the Company. The results of GreenPoints mortgage servicing business continue to be reported as part of the
Companys continuing operations. The mortgage servicing function was moved into the Local Banking segment in conjunction with
the shutdown of the mortgage origination operation, and the results of the Local Banking segment were restated to include the
mortgage servicing results for each period of 2007. During 2007, GreenPoints held for investment commercial mortgage portfolio
results were moved into the Local Banking segment. GreenPoints held for investment consumer portfolio results were moved into the
Other segment in 2007.
We maintain our books and records on a legal entity basis for the preparation of financial statements in conformity with GAAP. The
following table presents information prepared from our internal management information system, which is maintained on a line of
business level through allocations from legal entities.