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

The primary purpose of this 8-K filing is to report Capital One Financial Corporation's financial results for the first quarter ended March 31, 2004, and to provide forward-looking statements and associated risk factors.

What is the difference between Capital One's 'reported' and 'managed' financial statements?

Capital One's 'reported' financial statements follow Generally Accepted Accounting Principles (GAAP), where loans sold into securitization trusts are removed from the balance sheet. The 'managed' financial statements, which the company believes are more useful to stakeholders, include both on-balance sheet and off-balance sheet securitized loans, providing a more comprehensive view of earnings and asset performance.

What are some of the key risks highlighted in the 'Cautionary Factors' section?

Key risks highlighted include intense competition, potential increases in credit losses due to worsening economic conditions, the ability to securitize loans and access capital markets at favorable terms, changes in interest rates, general economic impacts on consumer spending and defaults, and potential regulatory changes affecting the credit card and consumer loan industry.

Where can I find the detailed financial results and presentation for the first quarter?

The detailed financial results are available in the press release (Exhibit 99.1) attached to this 8-K filing. Additionally, a "First Quarter Earnings Presentation" (Exhibit 99.2) was furnished under Regulation FD and provides further information.

CAPITAL ONE FINANCIAL CORP 8-K SEC Disclosure

Summary

Capital One Financial Corporation (COF) filed an 8-K on April 21, 2004, primarily to report its first-quarter 2004 financial results. The filing includes a press release announcing these results and a "First Quarter Earnings Presentation" furnished under Regulation FD. A significant aspect of the filing is its detailed discussion of the "managed" financial statements, which present results from both on-balance sheet and off-balance sheet securitized loans. This "managed" view, which the company believes is useful to stakeholders, differs from the GAAP "reported" balance sheet where securitized loans are removed. The report also highlights a comprehensive list of "Cautionary Factors" that could materially impact future performance. These factors encompass intense competition, potential increases in credit losses due to economic downturns, the ability to access capital markets, regulatory changes affecting the credit card and consumer loan industry, interest rate fluctuations, general economic conditions impacting consumer spending and defaults, changes in product mix and marketing expenses, and operational or technological disruptions. Investors should pay close attention to these forward-looking statements and the risks they represent.

Key Highlights

1Capital One released its first-quarter 2004 financial results on April 21, 2004, via an 8-K filing.
2The company utilizes both "reported" (GAAP) and "managed" financial statements, with the "managed" view including securitized loan portfolios.
3The "managed" financial statements are presented as a more comprehensive view of earnings from the total loan portfolio, both on and off-balance sheet.
4A detailed section outlines numerous risk factors and "Cautionary Factors" that could affect future financial performance.
5Key risks include intense competition, potential increases in credit losses, access to capital markets, and regulatory changes.
6The filing refers to an attached press release (Exhibit 99.1) and an "Earnings Presentation" (Exhibit 99.2) for detailed financial information and results.
7The Chief Financial Officer, Gary L. Perlin, signed the report, indicating a focus on financial results and disclosures.

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

Summary

Key Highlights

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