Capital One 2011 Annual Report Download - page 147

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TABLE D—NET CHARGE-OFFS(1)
Year Ended December 31,
(Dollars in millions) 2011 2010 2009 2008 2007
Reported:
Average loans held for investment(2) .............. $128,424 $128,526 $ 99,787 $ 98,971 $ 93,542
Net charge-offs ............................... 3,771 6,651 4,568 3,478 1,961
Net charge-offs rate(3) ......................... 2.94% 5.18% 4.58% 3.51% 2.10%
Managed:
Average loans held for investment(2) .............. $128,424 $128,622 $143,514 $147,812 $144,727
Net charge-offs ............................... 3,771 6,657 8,421 6,425 4,162
Net charge-off rate(3) .......................... 2.94% 5.18% 5.87% 4.35% 2.88%
(1) Net charge-offs reflect charge-offs, net of recoveries, related to our total held-for-investment loan portfolio, which we
previously referred to as our “managed” loan portfolio. The total held-for-investment loan portfolio includes loans
recorded on our balance sheet and loans held in our securitization trusts.
(2) The average balances of the acquired Chevy Chase Bank loan portfolio, which are included in the total average loans
held for investment used in calculating the net charge-off rates, were $5.0 billion , $6.3 billion and $6.8 billion for 2011,
2010 and 2009, respectively.
(3) Calculated for each loan category by dividing net charge-offs for the period divided by average loans held for investment
during the period.
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