Capital One 2011 Annual Report Download - page 274

CAPITAL ONE FINANCIAL CORPORATION
NOTES TO CONSOLIDATED STATEMENTS—(Continued)
Year Ended December 31,
(Dollars in millions) 2011 2010 2009
Statements of Income
Interest from temporary investments ........................................ $ 26 $ 27 $ 37
Interest expense ........................................................ 515 479 336
Dividends, principally from bank subsidiaries ................................ 1,950 1,200 500
Non-interest income ..................................................... 29 35 32
Non-interest expense .................................................... 361 273 90
Income before income taxes and equity in undistributed earnings of subsidiaries ..... 1,129 510 143
Income tax benefit ...................................................... (247) (221) (109)
Equity in undistributed earnings of subsidiaries ............................... 1,877 2,319 735
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
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