Capital One 2008 Annual Report Download - page 96
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78
TABLE FNET CHARGE-OFFS
Table F shows the Companys net charge-offs for the periods presented on a reported and managed basis.
Year Ended December 31
(Dollars in thousands)
2008(1)
2007(1)
2006
2005
2004
Reported:
Average loans held for investment........ $ 98,970,903
$ 93,541,825 $ 63,577,279 $ 40,734,237 $ 34,265,668
Net charge-offs ..................................... 3,478,171
1,960,541 1,407,489 1,446,649 1,295,568
Net charge-offs as a percentage of
average loans held for investment.... 3.51% 2.10% 2.21% 3.55% 3.78%
Managed:
Average loans held for investment........ $ 147,812,266 $ 144,727,007 $ 111,328,595 $ 85,265,023 $ 73,711,673
Net charge-offs ..................................... 6,424,937
4,161,995 3,158,080 3,623,154 3,251,761
Net charge-offs as a percentage of
average loans held for investment.... 4.35% 2.88% 2.84% 4.25% 4.41%
(1) Based on continuing operations.
TABLE GNONPERFORMING ASSETS
Table G shows a summary of nonperforming assets for the periods indicated.
As of December 31
(Dollars in thousands)
2008
2007(2)
2006(2)
2005(2)
Nonperforming loans held for investment(1):
Commercial lending..........................................................
Commercial and multi-family real estate ................ $ 142,261
$ 29,391 $ 13,745 $ 7,800
Middle market ......................................................... 38,677
28,772 10,820 50,957
Small ticket commercial real estate......................... 167,467
16,026 237
Specialty lending..................................................... 37,217
6,086 226
Total commercial lending ................................................. 385,622
80,275 25,028 58,757
Small business lending...................................................... 75,619
42,490 32,563 29,292
Total commercial & small business lending ..................... 461,241
122,765 57,591 88,049
Consumer auto ............................................................... 164,646
156,580 86,943 61,053
Consumer real estate...................................................... 178,414
113,831 21,762 17,340
Consumer other.............................................................. 51
137 264 217
Total nonperforming loans held for investment................ 804,352
393,313 166,560 166,659
Foreclosed property .......................................................... 88,961
48,016 16,146 8,436
Repossessed assets............................................................ 65,635
56,877 30,844 22,917
Total nonperforming assets............................................... $ 958,948
$ 498,206 $ 213,550 $ 198,012
(1) Our policy is not to classify credit card loans as nonperforming loans. Credit card loans continue to accrue finance charges and
fees until charged-off at 180-days.
(2) Certain prior period amounts have been reclassified to conform to current period presentation.