Capital One 2011 Annual Report Download - page 220

CAPITAL ONE FINANCIAL CORPORATION
NOTES TO CONSOLIDATED STATEMENTS—(Continued)
Future minimum rental commitments as of December 31, 2011, for all non-cancelable operating leases with
initial or remaining terms of one year or more are as follows:
(Dollars in millions)
Estimated
Future
Minimum
Rental
Commitments
2012 ........................................................................... $ 172
2013 ........................................................................... 169
2014 ........................................................................... 161
2015 ........................................................................... 147
2016 ........................................................................... 135
Thereafter ...................................................................... 806
Total .......................................................................... $1,590
Minimum sublease rental income of $48 million due in future years under non-cancelable leases has not been
included in the table above as a reduction to minimum lease payments.
NOTE 10—DEPOSITS AND BORROWINGS
Customer Deposits
Our customer deposits, which have become our largest source of funding for our operations and asset growth,
consist of non-interest bearing and interest-bearing deposits, including demand deposits, money market deposits,
negotiable order of withdrawal (“NOW”) accounts, savings accounts and certificates of deposit.
As of December 31, 2011, we had $109.9 billion in interest-bearing deposits of which $4.6 billion represents
large denomination certificates of $100,000 or more. As of December 31, 2010, we had $107.2 billion in interest-
bearing deposits, of which $6.5 billion represents large denomination certificates of $100,000 or more.
Borrowings
We also access the capital markets to meet our funding needs through loan securitization transactions and the
issuance of senior and subordinated debt. As of December 31, 2011, we had an effective shelf registration
statement filed with the U.S. Securities & Exchange Commission (“SEC”) under which, from time to time, we
may offer and sell an indeterminate aggregate amount of senior or subordinated debt securities, preferred stock,
depository shares representing preferred stock, common stock, purchase contracts, warrants, units, trust preferred
securities, junior subordinated debentures, guarantees of trust preferred securities and certain back-up
obligations. There is no limit under this shelf registration statement to the amount or number of such securities
that we may offer and sell. Under SEC rules, the shelf registration statement, which we filed in May 2009,
expires three years after filing.
In addition to issuance capacity under the shelf registration statement, we have access to other borrowing
programs, including advances from the FHLB. Our FHLB membership is secured by our investment in FHLB
stock, which totaled $362 million and $269 million, as of December 31, 2011 and 2010, respectively.
Securitized Debt Obligations
We had $16.5 billion and $26.8 billion of securitized debt obligations as of December 31, 2011 and 2010,
respectively, all of which are held by third party investors.
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