8-KEarnings & ResultsRegulation FDOther Events+1

CAPITAL ONE FINANCIAL CORP 8-K Report, Financial Results (Jan 21, 2010)

Filed January 21, 2010For Securities:COFCOF-PLCOF-PICOF-PKCOF-PNCOF-PJ

Summary

Capital One Financial Corporation filed this Form 8-K on January 21, 2010, to report its fourth-quarter and full-year 2009 financial results. The filing includes a press release and an earnings presentation that provide details on the company's performance. A key aspect of the disclosure is the presentation of both "reported" GAAP financial statements and "managed" financial statements, which adjust for the effects of securitization transactions treated as sales under GAAP. The company uses "managed" metrics to reflect earnings from its entire loan portfolio, including off-balance sheet loans, which it deems useful for stakeholders. Investors should note the company's emphasis on "managed" financials, as this provides a broader view of the loan portfolio's performance. The filing also contains significant forward-looking statements and cautionary factors outlining potential risks that could impact future financial results. These risks are standard for the industry and include economic conditions, credit losses, interest rate changes, regulatory actions, and the success of strategic initiatives and acquisitions.

Key Highlights

  • 1Filing reports Capital One's fourth quarter and full year 2009 financial results.
  • 2Includes a press release (Exhibit 99.1) and a fourth quarter earnings presentation (Exhibit 99.2).
  • 3Distinguishes between "reported" GAAP financial statements and "managed" consolidated financial statements that include off-balance sheet securitized loans.
  • 4The "managed" view is presented as a more comprehensive measure of earnings generated from the total loan portfolio.
  • 5Details cautionary factors and forward-looking statements, highlighting various risks and uncertainties that could affect future performance.
  • 6Announces an earnings conference call and webcast on January 21, 2010, at 4:30 PM ET.
  • 7Gary L. Perlin, Chief Financial Officer, signed the report.

Frequently Asked Questions

This Form 8-K is filed by Capital One Financial Corporation to announce and provide details regarding its fourth-quarter and full-year financial results for 2009. It includes the company's official press release and an earnings presentation.

Capital One presents both "reported" GAAP financial statements and "managed" consolidated financial statements. The "reported" statements adhere strictly to GAAP, excluding loans from securitization transactions that qualified as sales. The "managed" statements adjust for these securitization effects, incorporating both on-balance sheet and off-balance sheet loans to provide a view of earnings from the entire loan portfolio, which the company believes is more useful to stakeholders.

The filing highlights numerous risks and uncertainties that could impact future performance. These include general economic and business conditions (employment, interest rates, consumer confidence), increases in credit losses, changes in financial, legal, regulatory, tax, or accounting matters, interest rate fluctuations, the success of marketing efforts, the ability to access capital markets, loan portfolio growth and composition, deposit growth, cost control, reputational changes, operational disruptions, compliance infrastructure, strategic execution, competition, and integration of acquisitions.

The filing incorporates by reference a press release (Exhibit 99.1) and an earnings presentation (Exhibit 99.2). Capital One also held an earnings conference call and webcast on January 21, 2010, at 4:30 PM ET. Information and replays are available on Capital One's Investor Center website.