Capital One 2011 Annual Report Download - page 154

Item 8. Financial Information and Supplementary Data
CAPITAL ONE FINANCIAL CORPORATION
CONSOLIDATED STATEMENTS OF INCOME
Year Ended December 31,
(Dollars in millions, except per share-related data) 2011 2010 2009
Interest income:
Loans held for investment, including past-due fees ..................................... $13,774 $13,934 $ 8,757
Investment securities ............................................................ 1,137 1,342 1,610
Other ......................................................................... 76 77 297
Total interest income ........................................................ 14,987 15,353 10,664
Interest expense:
Deposits ...................................................................... 1,187 1,465 2,093
Securitized debt obligations ....................................................... 422 809 282
Senior and subordinated notes ..................................................... 300 276 260
Other borrowings ............................................................... 337 346 332
Total interest expense ........................................................ 2,246 2,896 2,967
Net interest income .......................................................... 12,741 12,457 7,697
Provision for loan and lease losses .................................................. 2,360 3,907 4,230
Net interest income after provision for loan and lease losses ......................... 10,381 8,550 3,467
Non-interest income:
Servicing and securitizations ...................................................... 44 7 2,280
Service charges and other customer-related fees ....................................... 1,979 2,073 1,997
Interchange fees, net ............................................................. 1,318 1,340 502
Total other-than-temporary losses .................................................. (131) (128) (287)
Less: Non-credit component of other-than-temporary losses recorded in AOCI .............. 110 63 255
Net other-than-temporary impairment losses recognized in earnings ....................... (21) (65) (32)
Other ......................................................................... 218 359 539
Total non-interest income ..................................................... 3,538 3,714 5,286
Non-interest expense:
Salaries and associate benefits ..................................................... 3,023 2,594 2,478
Marketing ..................................................................... 1,337 958 588
Communications and data processing ............................................... 681 693 740
Supplies and equipment .......................................................... 539 520 500
Occupancy .................................................................... 490 486 451
Restructuring expense ........................................................... 00 119
Other ......................................................................... 3,262 2,683 2,541
Total non-interest expense .................................................... 9,332 7,934 7,417
Income from continuing operations before income taxes ................................ 4,587 4,330 1,336
Income tax provision ............................................................ 1,334 1,280 349
Income from continuing operations, net of tax .................................... 3,253 3,050 987
Loss from discontinued operations, net of tax ......................................... (106) (307) (103)
Net income ................................................................ 3,147 2,743 884
Preferred stock dividends, accretion of discount and other ............................... (26) 0 (564)
Net income available to common stockholders .................................... $ 3,121 $ 2,743 $ 320
Basic earnings per common share:
Income from continuing operations ................................................. $ 7.08 $ 6.74 $ 0.99
Loss from discontinued operations ................................................. (0.23) (0.67) (0.24)
Net income per basic common share ............................................ $ 6.85 $ 6.07 $ 0.75
Diluted earnings per common share:
Income from continuing operations ................................................. $ 7.03 $ 6.68 $ 0.98
Loss from discontinued operations ................................................. (0.23) (0.67) (0.24)
Net income per diluted common share ........................................... $ 6.80 $ 6.01 $ 0.74
Dividends paid per common share .................................................. $ 0.20 $ 0.20 $ 0.53
See Notes to Consolidated Financial Statements.
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