Capital One 2012 Annual Report Download - page 236

CAPITAL ONE FINANCIAL CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Common Stock
On February 16, 2012, we settled forward sale agreements that we entered into with certain counterparties acting
as forward purchasers in connection with a public offering of shares of our common stock on July 19, 2011.
Pursuant to the forward sale agreements, we issued 40,000,000 shares of our common stock at settlement. After
underwriter’s discounts and commissions, the net proceeds to the company were at a forward sale price per share
of $48.17 for a total of approximately $1.9 billion.
On February 17, 2012, we issued 54,028,086 shares of our common stock with a fair value of $2.6 billion as
partial consideration for the equity interests and assets and liabilities associated with the ING Direct acquisition.
On March 20, 2012, we closed a public offering of 24,442,706 shares of our common stock which we sold to the
underwriters at a per share price of $51.14 for net proceeds of approximately $1.25 billion. We used the net
proceeds of this offering, along with the proceeds of other offerings of senior debt and cash sourced from current
liquidity, to fund the net consideration payable of $31.1 billion in connection with the May 1, 2012 acquisition of
HSBC’s U.S credit card business.
On September 10, 2012, one of the ING Sellers sold 54,028,086 shares of our common stock in an underwritten
public offering, representing all of the shares of common stock we issued to the ING Sellers in connection with
the ING Direct acquisition. We did not receive any proceeds from the offering.
Accumulated Other Comprehensive Income (“AOCI”)
The following table presents the components of accumulated other comprehensive income as of December 31,
2012, 2011, and 2010, net of deferred tax of $443 million, $142 million and $143 million, respectively:
December 31,
(Dollars in millions) 2012 2011 2010
Other comprehensive income:
Net unrealized gains (losses) on securities .................................... $708 $294 $333
Other-than-temporary impairment not recognized in earnings on securities .......... (5) 10 49
Unrealized gains (losses) on cash flow hedging instruments ...................... 45 (26) (52)
Foreign currency translation adjustments ..................................... 32 (49) (36)
Other ................................................................. (41) (60) (46)
Total accumulated other comprehensive income ............................... $739 $169 $248
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