Capital One 2011 Annual Report Download - page 56

Item 6. Selected Financial Data
We prepare our consolidated financial statements using generally accepted accounting principles in the U.S.
(“U.S. GAAP”), which we refer to as our reported results. Below we present selected consolidated financial data
from our reported results of operations for the five-year period ended December 31, 2011, as well as selected
consolidated balance sheet data as of the end of each year within this five-year period. Certain prior period
amounts have been reclassified to conform to the current period presentation. The historical financial information
presented may not be indicative of our future performance.
Prior to January 1, 2010, we also presented and analyzed our results on a non-GAAP “managed basis.” Our
managed presentation assumed that securitized loans accounted for as sales and reported as off-balance sheet in
accordance with applicable accounting guidance in effect prior to January 1, 2010, remained on balance sheet,
and the earnings from the loans underlying these trusts are reported in our results of operations in the same
manner as the earnings from loans that we own. While our managed presentation resulted in differences in the
classification of revenues in our income statement, net income on a managed basis was the same as reported net
income.
Effective January 1, 2010, we prospectively adopted two new accounting standards related to the transfer and
servicing of financial assets and consolidations that changed how we account for our securitization trusts. The
adoption of these new accounting standards, which we refer to in this Report as “new consolidation accounting
standards,” resulted in the consolidation of substantially all of our securitization trusts. As a result, our reported
and managed based presentations are generally comparable for periods beginning after January 1, 2010. See
“MD&A—Supplemental Tables” and “Exhibit 99.1” for additional information on our non-GAAP measures.
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