Capital One 2012 Annual Report Download - page 271

CAPITAL ONE FINANCIAL CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Year Ended December 31, 2010
(Dollars in millions)
Credit
Card
Consumer
Banking
Commercial
Banking Other
Consolidated
Total
Net interest income ................................ $ 7,894 $3,727 $1,450 $(614) $12,457
Non-interest income ................................ 2,720 870 185 (61) 3,714
Total net revenue .................................. 10,614 4,597 1,635 (675) 16,171
Provision for credit losses ........................... 3,188 241 435 43 3,907
Non-interest expense:
Core deposit intangible amortization ............... 0 144 55 0 199
Other non-interest expense ...................... 3,951 2,806 829 149 7,735
Total non-interest expense ........................... 3,951 2,950 884 149 7,934
Income (loss) from continuing operations before income
taxes .......................................... 3,475 1,406 316 (867) 4,330
Income tax provision (benefit) ........................ 1,201 501 112 (534) 1,280
Income (loss) from continuing operations, net of tax ...... $ 2,274 $ 905 $ 204 $(333) $ 3,050
Business Segment Loans and Deposits
The total loans held for investment and customer deposits attributable to each of our reportable business
segments as of December 31, 2012 and 2011 are presented in the following tables:
Year Ended December 31, 2012
(Dollars in millions)
Credit
Card
Consumer
Banking
Commercial
Banking Other
Consolidated
Total
Total loans held for investment .................. $91,755 $ 75,127 $38,820 $ 187 $205,889
Total customer deposits ........................ 0 172,396 29,866 10,223 212,485
Year Ended December 31, 2011
(Dollars in millions)
Credit
Card
Consumer
Banking
Commercial
Banking Other
Consolidated
Total
Total loans held for investment .................. $65,075 $36,315 $34,327 $ 175 $135,892
Total customer deposits ........................ 0 88,540 26,683 13,003 128,226
NOTE 21—COMMITMENTS, CONTINGENCIES AND GUARANTEES
Letters of Credit
We issue letters of credit (financial standby, performance standby and commercial) to meet the financing needs
of our customers. Standby letters of credit are conditional commitments issued by us to guarantee the
performance of a customer to a third party in a borrowing arrangement. Commercial letters of credit are short-
term commitments issued primarily to facilitate trade finance activities for customers and are generally
collateralized by the goods being shipped to the client. Collateral requirements are similar to those for funded
transactions and are established based on management’s credit assessment of the customer. Management
conducts regular reviews of all outstanding letters of credit and customer acceptances, and the results of these
reviews are considered in assessing the adequacy of our allowance for loan and lease losses.
We had standby letters of credit and commercial letters of credit with contractual amounts of $1.9 billion as of
both December 31, 2012 and 2011. The fair value of outstanding financial guarantees, which we include in other
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