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

The primary purpose of this 8-K filing is to report Capital One's financial results for the first quarter ended March 31, 2009, as announced in a press release on April 21, 2009. It also includes important disclosures about the company's financial presentation methods and forward-looking risk factors.

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

Capital One's 'reported' financial statements adhere to Generally Accepted Accounting Principles (GAAP), where loans securitized as sales are removed from the balance sheet. The 'managed' financial statements, however, adjust for these securitization effects to present the company's earnings from its entire loan portfolio, including both on-balance sheet and off-balance sheet loans, by reallocating revenues and expenses.

What are the key risks mentioned in the filing that could affect Capital One's future performance?

The filing lists numerous risk factors, including general economic and business conditions (affecting employment, consumer income, spending, and default rates), potential increases in credit losses, changes in interest rates, regulatory and accounting changes, competition, and operational disruptions. These factors could materially impact the company's actual results.

Where can investors find more detailed financial information and presentations?

Detailed financial information, including the press release and the first-quarter earnings presentation, are attached as exhibits (99.1 and 99.2) to this 8-K filing. The company also hosted a conference call and webcast on April 21, 2009, with replays available on their Investor Center website.

COF 8-K: Earnings & Results & Regulation FD

Summary

Capital One Financial Corporation (COF) filed an 8-K on April 21, 2009, to report its first-quarter 2009 financial results, which were released on April 20, 2009. The filing highlights the company's financial performance and condition, including details on its reported and managed financial statements. The company emphasizes its use of 'managed' financial statements to provide a more comprehensive view of earnings derived from its entire loan portfolio, including securitized assets that are removed from the balance sheet under GAAP. This report also serves as a cautionary note to investors, detailing numerous risk factors that could impact future performance. These include macroeconomic conditions affecting consumer spending and credit, interest rate fluctuations, regulatory changes, and operational challenges. Investors should pay close attention to these forward-looking statements and the associated risks when evaluating the company's prospects.

Key Highlights

1Capital One reported its first-quarter 2009 financial results on April 21, 2009, via an 8-K filing.
2The company provided both 'reported' GAAP financial statements and 'managed' financial statements, the latter providing a view of the entire loan portfolio including securitized assets.
3The 'managed' statements are presented to give stakeholders a better understanding of earnings generated from both on-balance sheet and off-balance sheet loans.
4The filing incorporates by reference a press release (Exhibit 99.1) and an earnings presentation (Exhibit 99.2) detailing the Q1 2009 results.
5Significant cautionary factors and risk disclosures are included, outlining potential challenges to future performance such as economic downturns, credit losses, and interest rate volatility.
6The company has scheduled an earnings conference call and webcast for April 21, 2009, to discuss these results.

CAPITAL ONE FINANCIAL CORP 8-K Report, Financial Results (Apr 21, 2009)

Summary

Key Highlights

Frequently Asked Questions