Capital One 2012 Annual Report Download - page 306

CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 3: Reconciliation of Non-GAAP Average Balances, Net Interest Income and Net Interest Margin
Year Ended December 31,
2010 2009
(Dollars in millions)(unaudited)
Average
Balance
Interest
Income/
Expense
Yield/
Rate
Average
Balance
Interest
Income/
Expense
Yield/
Rate
Reported basis
Interest-earning assets:
Loans held for investment .................. $168,015 $15,276 9.09% $136,697 $10,367 7.58%
Other ................................... 7,726 77 1.00 8,613 297 3.45
Total interest-earning assets ..................... 175,741 15,353 8.74 145,310 10,664 7.34
Interest-bearing liabilities:
Securitization liability ..................... 34,185 809 2.37 5,516 282 5.11
Total interest-bearing liabilities .................. 154,363 2,896 1.88 126,600 2,967 2.34
Net interest income/spread ...................... $12,457 6.86% $ 7,697 5.00%
Interest income to average interest-earning assets .... 8.74% 7.34%
Interest expense to average interest-earning assets . . . 1.65 2.04
Net interest margin ............................ 7.09% 5.30%
Non-GAAP securitization reconciliation adjustments
Interest-earning assets:
Loans held for investment ...................... $ 96 $ 8 —%$ 43,727 $ 5,678 1.31%
Other ....................................... (22) 0 (0.01) (3,061) (229) (2.23)
Total interest-earning assets ..................... 74 8 0.00 40,666 5,449 1.32
Interest-bearing liabilities:
Securitization liability ..................... 79 4 — 41,100 1,057 (2.24)
Net interest income/spread ...................... $ 4 —% $ 4,392 1.26%
Interest income to average interest-earning assets .... —% 1.32%
Interest expense to average interest-earning assets . . . — 0.12
Net interest margin ............................ —% 1.10%
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