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.