Capital One 2009 Annual Report Download - page 105

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92
TABLE F—NET CHARGE-OFFS
Table F shows the Company’s net charge-offs for the periods presented on a reported and managed basis.
Year Ended December 31
(Dollars in thousands)
2009(1)
2008 2007(2) 2006
2005
Reported:
Average loans held for
investment ..................................
.
$ 99,787,285 $ 98,970,903 $ 93,541,825 $ 63,577,279 $ 40,734,237
N
et cha
r
ge-offs ................................
.
4,567,634 3,478,171 1,960,545 1,407,489 1,446,649
N
et charge-offs as a percentage of
average loans held for
investment ..................................
.
4.58% 3.51% 2.10% 2.21% 3.55%
Managed:
Average loans held for investment ..
.
$ 143,514,416 $ 147,812,266 $ 144,727,007 $ 111,328,595 $ 85,265,023
N
et charge-offs ................................
.
8,420,634 6,424,938 4,161,995 3,158,080 3,623,154
N
et charge-offs as a percentage of
average loans held for
investment ..................................
.
5.87% 4.35% 2.88% 2.84% 4.25%
(1) Includes average Chevy Chase Bank acquired loan portfolio of $6.8 billion for the year ended December 31, 2009. Charge-offs
exclude net charge-offs of $373.8 million on the Chevy Chase Bank acquired loan portfolio for the year ended December 31,
2009. Charge-offs on the Chevy Chase Bank acquired loan portfolio are applied against the expected principal losses established
under ASC 805-10/FAS 141(R) upon acquisition.
(2) Based on continuing operations.