Capital One 2013 Annual Report Download - page 281
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CAPITAL ONE FINANCIAL CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
Year Ended December 31,
(Dollars in millions) 2013 2012 2011
Statements of income
Interest from temporary investments ...................................... $ 94 $ 47 $ 26
Interest expense ....................................................... 250 574 515
Dividends, principally from bank subsidiaries ............................... 5,950 0 1,950
Non-interest income ................................................... 33 697 29
Non-interest expense ................................................... 196 173 361
Income before income taxes and equity in undistributed earnings of subsidiaries . . . 5,631 (3) 1,129
Income tax (benefit) ................................................... (66) (168) (247)
Equity in undistributed earnings of subsidiaries .............................. (1,305) 3,569 1,877
Income from continuing operations, net of tax ............................... 4,392 3,734 3,253
Loss from discontinued operations, net of tax ............................... (233) (217) (106)
Net income .......................................................... 4,159 3,517 3,147
Dividends and undistributed earnings allocated to participating securities ......... (17) (15) (26)
Preferred stock dividends ............................................... (53) (15) 0
Net income available to common stockholders .............................. $ 4,089 $3,487 $3,121
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