Capital One 2010 Annual Report Download - page 101

81
Managed Basis Year Ended December 31,
2010 2009(1) 2008(1)
(Dollars in millions)
Average
Balance
Interest
Income/
Expense(2)
Yield/
Rate
Average
Balance
Interest
Income/
Expense(2)
Yield/
Rate
Average
Balance
Interest
Income/
Expense(2)
Yield/
Rate
Assets:
Interest-earning assets:
Consumer loans:(3)
Domestic ......................
$ 91,547 $ 11,452 12.51% $ 105,095 $ 11,766 11.20 % $ 108,527 $ 12,828 11.82%
International ...................
7,499 1,212 16.16 8,405 1,149 13.67 10,571 1,488 14.08
Total consumer loans ...............
99,046 12,664 12.79 113,500 12,915 11.38 119,098 14,316 12.02
Commercial loans .................
29,576 1,278 4.32 30,014 1,520 5.06 28,714 1,712 5.96
Total loans held for investment ........
128,622 13,942 10.84 143,514 14,435 10.06 147,812 16,028 10.84
Investment securities ...............
39,489 1,342 3.40 36,910 1,610 4.36 25,043 1,224 4.89
Other interest-earning assets:
Domestic ......................
7,107 75 1.06 4,938 65 1.32 5,826 169 2.88
International ...................
586 2 0.34 614 3 0.49 667 30 4.50
Total other .......................
7,693 77 1.00 5,552 68 1.23 6,493 199 3.05
Total interest-earning assets(4) .........
$ 175,804 $ 15,361 8.74% $ 185,976 $ 16,113 8.66 % $ 179,348 $ 17,451 9.73%
Cash and due from banks(4) ...........
2,128 3,476 2,128
Allowance for loan and lease losses(4) ...
(7,257) (4,470) (3,267)
Premises and equipment, net(4) ........
2,718 2,718 2,318
Other assets ......................
26,749 24,934 22,938
Total assets from discontinued operations
43 24 65
Total assets ......................
$ 200,185 $ 212,658 $ 203,530
Liabilities and Equity:
Interest-bearing liabilities:
Deposits:
Domestic $ 104,743 $ 1,465 1.40% $ 102,337 $ 2,070 2.02 % $ 81,019 $ 2,422 2.99%
International(5)
—
—
—
741 23 3.10 1,717 90 5.24
Total deposits 104,743 1,465 1.40 103,078 2,093 2.03 82,736 2,512 3.04
Securitized debt:
Domestic ......................
29,354 690 2.35 40,931 1,191 2.91 50,579 2,234 4.42
International ...................
4,910 123 2.51 5,686 148 2.60 6,991 382 5.46
Total securitized debt ...............
34,264 813 2.37 46,617 1,339 2.87 57,570 2,616 4.54
Senior and subordinated notes ........
8,571 276 3.22 8,607 260 3.02 8,881 445 5.01
Other borrowings:
Domestic ......................
5,082 333 6.55 7,941 321 4.04 11,166 444 3.98
International ...................
1,772 13 0.73 1,441 11 0.76 1,039 12 1.15
Total other borrowings ..............
6,854 346 5.05 9,382 332 3.54 12,205 456 3.74
Total interest-bearing liabilities(4) ......
$ 154,432 $ 2,900 1.88% $ 167,684 $ 4,024 2.40 % $ 161,392 $ 6,029 3.74%
N
on-interest bearing deposits(4) ........
14,267 12,523 10,772
Other liabilities(4) ..................
6,097 5,696 5,939
Total liabilities from discontinued
operations .....................
448 149 149
Total liabilities ...................
175,244 186,052 178,252
Stockholders’ equity(6) ..............
24,941 26,606 25,278
Total liabilities and stockholders’ equity .
$ 200,185 $ 212,658 $ 203,530
Net interest income/spread ......... $ 12,461 6.86% $ 12,089 6.26 % $ 11,422 5.99%
Interest income to average earning assets 8.74% 8.66 % 9.73%
Interest expense to average earning assets 1.65 2.16 3.36
Net interest margin .............. 7.09% 6.50 % 6.37%
________________________
(1) Certain prior period amounts have been reclassified to conform to the current period presentation. Effective February 27, 2009, we acquired
Chevy Chase Bank. Accordingly, our results for the first nine months of 2009 include only a partial impact from Chevy Chase Bank.
(2) Past due fees included in interest income totaled approximately $1.1 billion, $1.4 billion and $1.6 billion on a managed basis for the years ended
December 31, 2010, 2009 and 2008, respectively.
(3) Interest income on credit card, auto, home and retail banking loans is reflected in consumer loans. Interest income generated from small business
credit cards also is included in consumer loans.
(4) Based on continuing operations.
(5) The U.K. deposit business, which was included in international deposits, was sold during the third quarter of 2009.
(6) Includes a reduction of $2.9 billion recorded in January 1, 2010, in conjunction with the adoption of the new consolidation accounting guidance.