What is the main purpose of this 8-K filing?

The primary purpose of this 8-K filing is to announce and provide access to Capital One's financial results for the fourth quarter ended December 31, 2003, through an attached press release and earnings presentation.

What are "managed" consolidated financial statements, and why does Capital One use them?

Capital One uses "managed" consolidated financial statements to provide a more comprehensive view of its financial performance. These statements include assets that have been securitized and are off-balance sheet under GAAP. By reallocating the revenues and expenses associated with these securitized loans, Capital One believes it offers stakeholders a clearer picture of the earnings generated from its total loan portfolio, both on- and off-balance sheet.

What kind of risks does Capital One highlight in this filing?

Capital One highlights a range of risks that could impact its future performance. These include ongoing intense competition, the possibility of increased credit losses (potentially due to worsening economic conditions), challenges in accessing capital markets at favorable terms, and potential changes in financial, legal, and regulatory environments affecting the credit card and consumer loan industries.

Where can I find more detailed financial information beyond what's in the 8-K itself?

Detailed financial information is provided in Exhibit 99.1 (the press release dated January 21, 2004) and Exhibit 99.2 (the Fourth Quarter Earnings Presentation), which are attached to this Form 8-K filing. You could also access these via Capital One's Investor Center on their website at the time of the filing.

CAPITAL ONE FINANCIAL CORP 8-K SEC Disclosure

Summary

This Form 8-K filing by Capital One Financial Corporation (COF) on January 21, 2004, primarily announces the company's financial results for the fourth quarter ended December 31, 2003. Investors are directed to an attached press release (Exhibit 99.1) and a Fourth Quarter Earnings Presentation (Exhibit 99.2) for detailed financial information. The filing also includes a "Cautionary Factors" section, outlining various risks and uncertainties that could impact future performance, such as intense competition, potential increases in credit losses, and changes in regulatory environments. A key element highlighted in the filing is Capital One's use of "managed" consolidated financial statements. These statements, which differ from "reported" GAAP statements, present the company's financial performance by including securitized loans that have been removed from the balance sheet under GAAP. Capital One believes these "managed" statements, which reallocate revenues and expenses from securitized portfolios, provide a more comprehensive view of earnings generated from its entire loan portfolio, encompassing both on- and off-balance sheet assets.

Key Highlights

1Capital One Financial Corporation filed an 8-K on January 21, 2004, to report its fourth quarter 2003 financial results.
2The filing references an attached press release (Exhibit 99.1) and a Fourth Quarter Earnings Presentation (Exhibit 99.2) containing detailed financial information.
3The company has included a "Cautionary Factors" section detailing numerous risks and uncertainties that could affect future performance.
4Key risks mentioned include intense competition, potential increases in credit losses, and regulatory changes impacting the credit card and financial services industries.
5Capital One utilizes "managed" consolidated financial statements in addition to GAAP "reported" statements to present financial results.
6The "managed" statements include securitized loans that are off-balance sheet under GAAP, aiming to provide a broader view of earnings across the entire loan portfolio.
7An investor conference call and webcast were scheduled for January 21, 2004, to discuss the fourth quarter earnings.

CAPITAL ONE FINANCIAL CORP 8-K Report (Jan 21, 2004)

Summary

Key Highlights

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