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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
____________________________________
FORM 8-K
____________________________________
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
The Securities Exchange Act of 1934

October 27, 2022
Date of Report (Date of earliest event reported)
____________________________________
CAPITAL ONE FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
____________________________________
Delaware 001-13300 54-1719854
(State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.)
1680 Capital One Drive,
McLean, Virginia   22102
(Address of principal executive offices)   (Zip Code)
Registrant’s telephone number, including area code: (703) 720-1000
(Not applicable)
(Former name or former address, if changed since last report)
____________________________________
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
☐    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
☐    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
☐    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class Trading Symbol(s) Name of Each Exchange on Which Registered
Common Stock (par value $.01 per share) COF
New York Stock Exchange
Depositary Shares, Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series I COF PRI
New York Stock Exchange
Depositary Shares, Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series J COF PRJ
New York Stock Exchange
Depositary Shares, Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series K COF PRK
New York Stock Exchange
Depositary Shares, Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series L COF PRL
New York Stock Exchange
Depositary Shares, Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series N COF PRN
New York Stock Exchange
0.800% Senior Notes Due 2024 COF24
New York Stock Exchange
1.650% Senior Notes Due 2029 COF29
New York Stock Exchange
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company     ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐





Item 2.02 Results of Operations and Financial Condition.

On October 27, 2022, Capital One Financial Corporation (the “Company”) issued a press release announcing its financial results for the third quarter ended September 30, 2022. Copies of the Company’s press release and financial supplement are attached and furnished herewith as Exhibits 99.1 and 99.2 to this Form 8-K and are incorporated herein by reference.

Note: Information in this report (including Exhibits 99.1 and 99.2) furnished pursuant to Item 2.02 shall not be deemed to be “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934 or otherwise subject to the liabilities of that Section. 
1




Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.
Exhibit No. Description
99.1
99.2
104 The cover page from this Current Report on Form 8-K, formatted in Inline XBRL

Earnings Conference Call Webcast Information.

The Company will hold an earnings conference call on October 27, 2022 at 5:00 PM Eastern Time. The conference call will be accessible through live webcast. Interested investors and other individuals can access the webcast via the Company’s home page (www.capitalone.com). Under “About,” choose “Investors” to access the Investor Center and view and/or download the earnings press release, the financial supplement, including a reconciliation of non-GAAP financial measures, and the earnings release presentation. A replay of the webcast will be archived on the Company’s website through November 10, 2022 at 5:00 PM Eastern Time.
2




SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the Company has duly caused this Current Report on Form 8-K to be signed on its behalf by the undersigned hereunto duly authorized.
CAPITAL ONE FINANCIAL CORPORATION
Date: October 27, 2022
 By: /s/ TIMOTHY P. GOLDEN
Timothy P. Golden
Controller and Principal Accounting Officer

3
EX-99.1 2 ex991q32022earningsrelease.htm EX-99.1 Document

Exhibit 99.1
News Release

earningsslidesvfinal1b58a.jpg
Contacts:
Investor Relations Media Relations
Jeff Norris Danielle Dietz Sie Soheili
jeff.norris@capitalone.com danielle.dietz@capitalone.com sie.soheili@capitalone.com

FOR IMMEDIATE RELEASE: October 27, 2022
Capital One Reports Third Quarter 2022 Net Income of $1.7 billion,
or $4.20 per share
McLean, Va. (October 27, 2022) – Capital One Financial Corporation (NYSE: COF) today announced net income for the third quarter of 2022 of $1.7 billion, or $4.20 per diluted common share, compared with net income of $2.0 billion, or $4.96 per diluted common share in the second quarter of 2022, and with net income of $3.1 billion, or $6.78 per diluted common share in the third quarter of 2021.
“We delivered strong growth and revenue in the third quarter, and we continue to see opportunities to lean into marketing and resilient asset growth that can deliver sustained revenue annuities,” said Richard D. Fairbank, Founder, Chairman, and Chief Executive Officer. “We’re in a strong position to deliver compelling long-term shareholder value as modern digital technology continues to transform banking.”
All comparisons below are for the third quarter of 2022 compared with the second quarter of 2022 unless otherwise noted.
Third Quarter 2022 Income Statement Summary:
•Total net revenue increased 7 percent to $8.8 billion.
•Total non-interest expense increased 8 percent to $4.9 billion:
◦2 percent decrease in marketing.
◦11 percent increase in operating expenses.
•Pre-provision earnings increased 6 percent to $3.9 billion.(1)
•Provision for credit losses increased $584 million to $1.7 billion:
◦Net charge-offs of $931 million.
◦$734 million loan reserve build.
•Net interest margin of 6.80 percent, an increase of 26 basis points.
(1)Pre-provision earnings is calculated based on the sum of net interest income and non-interest income, less non-interest expense for the period. Management believes that this financial metric is useful in enabling investors and others to assess the Company’s ability to generate income to cover credit losses through a credit cycle, which can vary significantly between periods.


Capital One Third Quarter 2022 Earnings
Page 2

•Efficiency ratio of 56.21 percent.
•Operating efficiency ratio of 45.10 percent.
Third Quarter 2022 Balance Sheet Summary:
•Common equity Tier 1 capital ratio under Basel III Standardized Approach of 12.2 percent at September 30, 2022.
•Period-end loans held for investment in the quarter increased $7.6 billion, or 3 percent, to $303.9 billion.
◦Credit Card period-end loans increased $6.0 billion, or 5 percent, to $126.9 billion.
•Domestic Card period-end loans increased $6.3 billion, or 5 percent, to $121.3 billion.
◦Consumer Banking period-end loans decreased $332 million, or less than 1 percent, to $81.2 billion.
•Auto period-end loans decreased $346 million, or less than 1 percent, to $79.6 billion.
◦Commercial Banking period-end loans increased $1.9 billion, or 2 percent, to $95.8 billion.
•Average loans held for investment in the quarter increased $14.1 billion, or 5 percent, to $300.2 billion.
◦Credit Card average loans increased $7.5 billion, or 6 percent, to $123.4 billion.
•Domestic Card average loans increased $7.5 billion, or 7 percent, to $117.5 billion.
◦Consumer Banking average loans increased $358 million, or less than 1 percent, to $81.3 billion.
•Auto average loans increased $428 million, or 1 percent, to $79.7 billion.
◦Commercial Banking average loans increased $6.2 billion, or 7 percent, to $95.5 billion.
•Period-end total deposits increased $9.3 billion, or 3 percent, to $317.2 billion, while average deposits increased $6.0 billion, or 2 percent, to $311.9 billion.
•Interest-bearing deposits rate paid increased 56 basis points to 1.00 percent.

Capital One Third Quarter 2022 Earnings
Page 3

Earnings Conference Call Webcast Information
The company will hold an earnings conference call on October 27, 2022 at 5:00 PM Eastern Time. The conference call will be accessible through live webcast. Interested investors and other individuals can access the webcast via the company’s home page (www.capitalone.com). Under “About,” choose “Investors” to access the Investor Center and view and/or download the earnings press release, the financial supplement, including a reconciliation of non-GAAP financial measures, and the earnings release presentation. The replay of the webcast will be archived on the company’s website through November 10, 2022 at 5:00 PM Eastern Time.
Forward-Looking Statements
Certain statements in this release may constitute forward-looking statements, which involve a number of risks and uncertainties. Capital One cautions readers that any forward-looking information is not a guarantee of future performance and that actual results could differ materially from those contained in the forward-looking information due to a number of factors, including those listed from time to time in reports that Capital One files with the Securities and Exchange Commission, including, but not limited to, the Annual Report on Form 10-K for the year ended December 31, 2021.
About Capital One
Capital One Financial Corporation (www.capitalone.com) is a financial holding company which, along with its subsidiaries, had $317.2 billion in deposits and $444.2 billion in total assets as of September 30, 2022. Headquartered in McLean, Virginia, Capital One offers a broad spectrum of financial products and services to consumers, small businesses and commercial clients through a variety of channels. Capital One, N.A. has branches located primarily in New York, Louisiana, Texas, Maryland, Virginia, New Jersey and the District of Columbia. A Fortune 500 company, Capital One trades on the New York Stock Exchange under the symbol “COF” and is included in the S&P 100 index.
###



EX-99.2 3 ex992q32022earningsrelease.htm EX-99.2 Document

Exhibit 99.2

Capital One Financial Corporation
Financial Supplement(1)(2)
Third Quarter 2022
Table of Contents
Capital One Financial Corporation Consolidated Results Page
Business Segment Results
Other
__________
(1)The information contained in this Financial Supplement is preliminary and based on data available at the time of the earnings presentation. Investors should refer to our Quarterly Report on Form 10-Q for the period ended September 30, 2022 once it is filed with the Securities and Exchange Commission.
(2)This Financial Supplement includes non-GAAP measures. We believe these non-GAAP measures are useful to investors and users of our financial information as they provide an alternate measurement of our performance and assist in assessing our capital adequacy and the level of return generated. These non-GAAP measures should not be viewed as a substitute for reported results determined in accordance with generally accepted accounting principles in the U.S. (“GAAP”), nor are they necessarily comparable to non-GAAP measures that may be presented by other companies.


CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 1: Financial Summary—Consolidated
2022 Q3 vs. Nine Months Ended September 30,
(Dollars in millions, except per share data and as noted) 2022 2022 2022 2021 2021 2022 2021 2022 vs.
Q3 Q2 Q1 Q4 Q3 Q2 Q3 2022 2021 2021
Income Statement
Net interest income $ 7,003  $ 6,517  $ 6,397  $ 6,450  $ 6,156  7  % 14  % $ 19,917  $ 17,721  12  %
Non-interest income 1,802  1,715  1,776  1,668  1,674  5  8  5,293  4,596  15 
Total net revenue(1)
 8,805  8,232  8,173  8,118  7,830  7  12  25,210  22,317  13 
Provision (benefit) for credit losses 1,669  1,085  677  381  (342) 54  ** 3,431  (2,325) **
Non-interest expense:
Marketing 978  1,003  918  999  751  (2) 30  2,899  1,872  55 
Operating expense 3,971  3,580  3,633  3,679  3,435  11  16  11,184  10,020  12 
Total non-interest expense 4,949  4,583  4,551  4,678  4,186  8  18  14,083  11,892  18 
Income from continuing operations before income taxes 2,187  2,564  2,945  3,059  3,986  (15) (45) 7,696  12,750  (40)
Income tax provision 493  533  542  633  882  (8) (44) 1,568  2,782  (44)
Income from continuing operations, net of tax 1,694  2,031  2,403  2,426  3,104  (17) (45) 6,128  9,968  (39)
Income (loss) from discontinued operations, net of tax —  —  —  (1) —  —  — —  (3) **
Net income 1,694  2,031  2,403  2,425  3,104  (17) (45) 6,128  9,965  (39)
Dividends and undistributed earnings allocated to participating securities(2)
 (21) (25) (28) (21) (26) (16) (19) (74) (84) (12)
Preferred stock dividends (57) (57) (57) (74) (79) —  (28) (171) (200) (15)
Issuance cost for redeemed preferred stock(3)
 —  —  —  (34) (12) —  ** —  (12) **
Net income available to common stockholders $ 1,616  $ 1,949  $ 2,318  $ 2,296  $ 2,987  (17) (46) $ 5,883  $ 9,669  (39)
Common Share Statistics
Basic earnings per common share:(2)
Net income from continuing operations $ 4.21  $ 4.98  $ 5.65  $ 5.43  $ 6.81  (15) % (38) % $ 14.90  $ 21.53  (31) %
Income (loss) from discontinued operations —  —  —  —  —  —  —  —  (0.01) **
Net income per basic common share $ 4.21  $ 4.98  $ 5.65  $ 5.43  $ 6.81  (15) (38) $ 14.90  $ 21.52  (31)
Diluted earnings per common share:(2)
Net income from continuing operations $ 4.20  $ 4.96  $ 5.62  $ 5.41  $ 6.78  (15) % (38) % $ 14.84  $ 21.45  (31) %
Income (loss) from discontinued operations —  —  —  —  —  —  —  —  (0.01) **
Net income per diluted common share $ 4.20  $ 4.96  $ 5.62  $ 5.41  $ 6.78  (15) (38) $ 14.84  $ 21.44  (31)
Weighted-average common shares outstanding (in millions):
Basic 383.4  391.2  410.4  422.5  438.8  (2) % (13) % 394.9  449.2  (12) %
Diluted 384.6  392.6  412.2  424.3  440.5  (2) (13) 396.4  450.9  (12)
Common shares outstanding (period-end, in millions) 382.0  383.8  399.0  413.9  430.4  —  (11) 382.0  430.4  (11)
Dividends declared and paid per common share $ 0.60  $ 0.60  $ 0.60  $ 0.60  $ 1.20  —  (50) $ 1.80  $ 2.00  (10)
Tangible book value per common share (period-end)(4)
 81.38  87.84  91.77  99.74  99.60  (7) (18) 81.38  99.60  (18)
1

2022 Q3 vs. Nine Months Ended September 30,
(Dollars in millions) 2022 2022 2022 2021 2021 2022 2021 2022 vs.
Q3 Q2 Q1 Q4 Q3 Q2 Q3 2022 2021 2021
Balance Sheet (Period-End)
Loans held for investment $ 303,943  $ 296,384  $ 280,466  $ 277,340  $ 261,390  3% 16% $ 303,943  $ 261,390  16%
Interest-earning assets 415,262  406,565  398,241  397,341  387,208  2 7 415,262  387,208  7
Total assets 444,232  440,288  434,195  432,381  425,377  1 4 444,232  425,377  4
Interest-bearing deposits 282,802  270,881  275,648  272,937  269,134  4 5 282,802  269,134  5
Total deposits 317,193  307,885  313,429  310,980  305,938  3 4 317,193  305,938  4
Borrowings 54,607  58,938  45,358  43,086  37,501  (7) 46 54,607  37,501  46
Common equity 46,015  48,564  51,499  56,184  57,632  (5) (20) 46,015  57,632  (20)
Total stockholders’ equity 50,861  53,410  56,345  61,029  63,544  (5) (20) 50,861  63,544  (20)
Balance Sheet (Average Balances)
Loans held for investment $ 300,186  $ 286,110  $ 275,342  $ 267,159  $ 253,101  5% 19% $ 287,304  $ 247,867  16%
Interest-earning assets 412,171  398,934  394,082  390,868  387,766  3 6 401,793  388,820  3
Total assets 447,088  435,327  430,372  427,845  424,506  3 5 437,523  423,457  3
Interest-bearing deposits 275,900  268,104  271,823  269,951  269,278  3 2 271,957  272,022  —
Total deposits 311,928  305,954  309,597  307,272  305,035  2 2 309,168  306,102  1
Borrowings 58,628  53,208  42,277  39,943  37,464  10 56 51,431  38,134  35
Common equity 49,696  49,319  54,591  56,946  58,230  1 (15) 51,184  56,972  (10)
Total stockholders’ equity 54,541  54,165  59,437  62,498  64,682  1 (16) 56,030  62,575  (10)
    
    
2

CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 2: Selected Metrics—Consolidated
2022 Q3 vs. Nine Months Ended September 30,
(Dollars in millions, except as noted) 2022 2022 2022 2021 2021 2022 2021 2022 vs.
Q3 Q2 Q1 Q4 Q3 Q2 Q3 2022 2021 2021
Performance Metrics
Net interest income growth (period over period) 7  % 2  % (1)% 5  % 7  % ** ** 12  % 4  % **
Non-interest income growth (period over period) 5  (3) 6  —  3  ** ** 15  11  **
Total net revenue growth (period over period) 7  1  1  4  6  ** ** 13  5  **
Total net revenue margin(5)
 8.55  8.25  8.30  8.31  8.08  30  bps 47  bps 8.37  7.65  72  bps
Net interest margin(6)
 6.80  6.54  6.49  6.60  6.35  26  45  6.61  6.08  53 
Return on average assets 1.52  1.87  2.23  2.27  2.92  (35) (140) 1.87  3.14  (127)
Return on average tangible assets(7)
 1.57  1.93  2.31  2.35  3.03  (36) (146) 1.93  3.25  (132)
Return on average common equity(8)
 13.01  15.81  16.98  16.13  20.52  (3)% (8)% 15.33  22.64  (7)%
Return on average tangible common equity(9)
 18.59  22.63  23.36  21.82  27.50  (4) (9) 21.62  30.57  (9)
Non-interest expense as a percentage of average loans held for investment 6.59  6.41  6.61  7.00  6.62  18  bps (3) bps 6.54  6.40  14  bps
Efficiency ratio(10)
 56.21  55.67  55.68  57.63  53.46  54  275  55.86  53.29  257 
Operating efficiency ratio(11)
 45.10  43.49  44.45  45.32  43.87  161  123  44.36  44.90  (54)
Effective income tax rate for continuing operations 22.5  20.8  18.4  20.7  22.1  170  40  20.4  21.8  (140)
Employees (period-end, in thousands) 55.1  53.6  51.5  50.8  50.8  3% 8% 55.1  50.8  8%
Credit Quality Metrics
Allowance for credit losses $ 12,209 $ 11,491 $ 11,308 $ 11,430 $ 11,573 6% 5% $ 12,209 $ 11,573 5%
Allowance coverage ratio 4.02  % 3.88  % 4.03  % 4.12  % 4.43  % 14  bps (41) bps 4.02  % 4.43  % (41) bps
Net charge-offs $ 931 $ 845 $ 767 $ 527 $ 426 10% 119% $ 2,543 $ 1,707 49%
Net charge-off rate(12)
 1.24  % 1.18  % 1.11  % 0.79  % 0.67  % 6  bps 57  bps 1.18  % 0.92  % 26  bps
30+ day performing delinquency rate 2.58  2.36  2.08  2.25  1.97  22  61  2.58  1.97  61 
30+ day delinquency rate 2.78  2.54  2.21  2.41  2.13  24  65  2.78  2.13  65 
Capital Ratios(13)
Common equity Tier 1 capital
12.2  % 12.1  % 12.7  % 13.1  % 13.8  % 10  bps (160) bps 12.2  % 13.8  % (160) bps
Tier 1 capital 13.6  13.5  14.1  14.5  15.7  10  (210) 13.6  15.7  (210)
Total capital 15.7  15.7  16.4  16.9  18.2  —  (250) 15.7  18.2  (250)
Tier 1 leverage 11.0  11.1  11.3  11.6  12.2  (10) (120) 11.0  12.2  (120)
Tangible common equity (“TCE”)(14)
 7.2  7.9  8.7  9.9  10.4  (70) (320) 7.2  10.4  (320)
    
 
3

CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 3: Consolidated Statements of Income
2022 Q3 vs. Nine Months Ended September 30,
(Dollars in millions, except as noted) 2022 2022 2022 2021 2021 2022 2021 2022 vs.
Q3 Q2 Q1 Q4 Q3 Q2 Q3 2022 2021 2021
Interest income:
Loans, including loans held for sale $ 7,578  $ 6,605  $ 6,367  $ 6,451  $ 6,205  15  % 22  % $ 20,550  $ 17,812  15  %
Investment securities 499  435  402  368  317  15  57  1,336  1,078  24 
Other 123  55  15  12  16  124  ** 193  48  **
Total interest income 8,200  7,095  6,784  6,831  6,538  16  25  22,079  18,938  17 
Interest expense:
Deposits 689  293  218  222  228  135  ** 1,200  734  63 
Securitized debt obligations 120  65  29  30  29  85  ** 214  89  140 
Senior and subordinated notes 319  194  131  121  116  64  175  644  367  75 
Other borrowings 69  26  9  8  9  165  ** 104  27  **
Total interest expense 1,197  578  387  381  382  107  ** 2,162  1,217  78 
Net interest income 7,003  6,517  6,397  6,450  6,156  7  14  19,917  17,721  12 
Provision (benefit) for credit losses 1,669  1,085  677  381  (342) 54  ** 3,431  (2,325) **
Net interest income after provision for credit losses 5,334  5,432  5,720  6,069  6,498  (2) (18) 16,486  20,046  (18)
Non-interest income:
Interchange fees, net 1,195  1,201  1,033  1,005  1,022  —  17  3,429  2,855  20 
Service charges and other customer-related fees 415  415  400  435  407  —  2  1,230  1,143  8 
Other 192  99  343  228  245  94  (22) 634  598  6 
Total non-interest income 1,802  1,715  1,776  1,668  1,674  5  8  5,293  4,596  15 
Non-interest expense:
Salaries and associate benefits 2,187  1,946  2,026  1,941  1,852  12  18  6,159  5,480  12 
Occupancy and equipment 502  481  513  527  481  4  4  1,496  1,476  1 
Marketing 978  1,003  918  999  751  (2) 30  2,899  1,872  55 
Professional services 471  458  397  449  358  3  32  1,326  991  34 
Communications and data processing 349  339  339  326  319  3  9  1,027  936  10 
Amortization of intangibles 17  14  14  13  5  21  ** 45  16  181 
Other 445  342  344  423  420  30  6  1,131  1,121  1 
Total non-interest expense 4,949  4,583  4,551  4,678  4,186  8  18  14,083  11,892  18 
Income from continuing operations before income taxes 2,187  2,564  2,945  3,059  3,986  (15) (45) 7,696  12,750  (40)
Income tax provision 493  533  542  633  882  (8) (44) 1,568  2,782  (44)
Income from continuing operations, net of tax 1,694  2,031  2,403  2,426  3,104  (17) (45) 6,128  9,968  (39)
Income (loss) from discontinued operations, net of tax —  —  —  (1) —  — — —  (3) **
Net income 1,694  2,031  2,403  2,425  3,104  (17) (45) 6,128  9,965  (39)
Dividends and undistributed earnings allocated to participating securities(2)
 (21) (25) (28) (21) (26) (16) (19) (74) (84) (12)
Preferred stock dividends (57) (57) (57) (74) (79) —  (28) (171) (200) (15)
Issuance cost for redeemed preferred stock(3)
 —  —  —  (34) (12) —  ** —  (12) **
Net income available to common stockholders $ 1,616  $ 1,949  $ 2,318  $ 2,296  $ 2,987  (17) (46) $ 5,883  $ 9,669  (39)
4

2022 Q3 vs. Nine Months Ended September 30,
2022 2022 2022 2021 2021 2022 2021 2022 vs.
Q3 Q2 Q1 Q4 Q3 Q2 Q3 2022 2021 2021
Basic earnings per common share:(2)
Net income from continuing operations $ 4.21  $ 4.98  $ 5.65  $ 5.43  $ 6.81  (15) % (38) % $ 14.90  $ 21.53  (31) %
Income (loss) from discontinued operations —  —  —  —  —  —  —  —  (0.01) **
Net income per basic common share $ 4.21  $ 4.98  $ 5.65  $ 5.43  $ 6.81  (15) (38) $ 14.90  $ 21.52  (31)
Diluted earnings per common share:(2)
Net income from continuing operations $ 4.20  $ 4.96  $ 5.62  $ 5.41  $ 6.78  (15) (38) $ 14.84  $ 21.45  (31)
Income (loss) from discontinued operations —  —  —  —  —  —  —  —  (0.01) **
Net income per diluted common share $ 4.20  $ 4.96  $ 5.62  $ 5.41  $ 6.78  (15) (38) $ 14.84  $ 21.44  (31)
Weighted-average common shares outstanding (in millions):
Basic common shares 383.4  391.2  410.4  422.5  438.8  (2) (13) 394.9  449.2  (12)
Diluted common shares 384.6  392.6  412.2  424.3  440.5  (2) (13) 396.4  450.9  (12)
5

CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 4: Consolidated Balance Sheets
2022 Q3 vs.
2022 2022 2022 2021 2021 2022 2021
(Dollars in millions) Q3 Q2 Q1 Q4 Q3 Q2 Q3
Assets:
Cash and cash equivalents:
Cash and due from banks $ 3,716  $ 4,825  $ 5,107  $ 4,164  $ 5,444  (23) % (32) %
Interest-bearing deposits and other short-term investments 21,176  16,728  21,697  17,582  21,180  27  — 
Total cash and cash equivalents 24,892  21,553  26,804  21,746  26,624  15  (7)
Restricted cash for securitization investors 399  697  281  308  234  (43) 71 
Securities available for sale 75,303  83,022  89,076  95,261  98,149  (9) (23)
Loans held for investment:
Unsecuritized loans held for investment 277,576  271,339  257,505  252,468  238,475  2  16 
Loans held in consolidated trusts 26,367  25,045  22,961  24,872  22,915  5  15 
Total loans held for investment 303,943  296,384  280,466  277,340  261,390  3  16 
Allowance for credit losses (12,209) (11,491) (11,308) (11,430) (11,573) 6  5 
Net loans held for investment 291,734  284,893  269,158  265,910  249,817  2  17 
Loans held for sale 1,729  875  1,155  5,888  6,300  98  (73)
Premises and equipment, net 4,265  4,238  4,238  4,210  4,204  1  1 
Interest receivable 1,853  1,611  1,479  1,460  1,418  15  31 
Goodwill 14,771  14,778  14,784  14,782  14,652  —  1 
Other assets 29,286  28,621  27,220  22,816  23,979  2  22 
Total assets $ 444,232  $ 440,288  $ 434,195  $ 432,381  $ 425,377  1  4 
6

2022 Q3 vs.
2022 2022 2022 2021 2021 2022 2021
(Dollars in millions) Q3 Q2 Q1 Q4 Q3 Q2 Q3
Liabilities:
Interest payable $ 433  $ 333  $ 261  $ 281  $ 241  30  % 80  %
Deposits:
Non-interest-bearing deposits 34,391  37,004  37,781  38,043  36,804  (7) (7)
Interest-bearing deposits 282,802  270,881  275,648  272,937  269,134  4  5 
Total deposits 317,193  307,885  313,429  310,980  305,938  3  4 
Securitized debt obligations 15,926  17,466  13,740  14,994  12,635  (9) 26 
Other debt:
Federal funds purchased and securities loaned or sold under agreements to repurchase 528  440  594  820  825  20  (36)
Senior and subordinated notes 30,615  30,489  26,976  27,219  23,983  —  28 
Other borrowings 7,538  10,543  4,048  53  58  (29) **
Total other debt 38,681  41,472  31,618  28,092  24,866  (7) 56 
Other liabilities 21,138  19,722  18,802  17,005  18,153  7  16 
Total liabilities 393,371  386,878  377,850  371,352  361,833  2  9 
Stockholders’ equity:
Preferred stock 0  0  0  0  0  —  — 
Common stock 7  7  7  7  7  —  — 
Additional paid-in capital, net 34,579  34,425  34,286  34,112  35,051  —  (1)
Retained earnings 56,240  54,836  53,099  51,006  48,944  3  15 
Accumulated other comprehensive income (loss) (10,704) (6,916) (4,093) 374  1,360  55  **
Treasury stock, at cost (29,261) (28,942) (26,954) (24,470) (21,818) 1  34 
Total stockholders’ equity 50,861  53,410  56,345  61,029  63,544  (5) (20)
Total liabilities and stockholders’ equity $ 444,232  $ 440,288  $ 434,195  $ 432,381  $ 425,377  1  4 

7

CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 5: Notes to Financial Summary, Selected Metrics and Consolidated Financial Statements (Tables 1—4)

(1)Total net revenue was reduced by $222 million in Q3 2022, $211 million in Q2 2022, $192 million in Q1 2022, $151 million in Q4 2021 and $123 million in Q3 2021 for credit card finance charges and fees charged-off as uncollectible.
(2)Dividends and undistributed earnings allocated to participating securities and earnings per share are computed independently for each period. Accordingly, the sum of each quarterly amount may not agree to the year-to-date total. We also provide adjusted diluted earnings per share, which is a non-GAAP measure. See “Table 15: Calculation of Regulatory Capital Measures and Reconciliation of Non-GAAP Measures” for additional information on our non-GAAP measures.
(3)On September 1, 2021, we redeemed all outstanding shares of our fixed-to-floating rate non-cumulative perpetual preferred stock Series E, which reduced our net income available to common shareholders by $12 million in Q3 2021. On December 1, 2021, we redeemed all outstanding shares of our fixed rate 5.20% non-cumulative perpetual preferred stock Series G and our fixed rate 6.00% non-cumulative perpetual preferred stock Series H, which together reduced our net income available to common shareholders by $34 million in Q4 2021.
(4)Tangible book value per common share is a non-GAAP measure calculated based on TCE divided by common shares outstanding. See “Table 15: Calculation of Regulatory Capital Measures and Reconciliation of Non-GAAP Measures” for additional information on non-GAAP measures.
(5)Total net revenue margin is calculated based on annualized total net revenue for the period divided by average interest-earning assets for the period.
(6)Net interest margin is calculated based on annualized net interest income for the period divided by average interest-earning assets for the period.
(7)Return on average tangible assets is a non-GAAP measure calculated based on annualized income (loss) from continuing operations, net of tax, for the period divided by average tangible assets for the period. See “Table 15: Calculation of Regulatory Capital Measures and Reconciliation of Non-GAAP Measures” for additional information on non-GAAP measures.
(8)Return on average common equity is calculated based on annualized net income (loss) available to common stockholders less annualized income (loss) from discontinued operations, net of tax, for the period, divided by average common equity. Our calculation of return on average common equity may not be comparable to similarly-titled measures reported by other companies.
(9)Return on average tangible common equity is a non-GAAP measure calculated based on annualized net income (loss) available to common stockholders less annualized income (loss) from discontinued operations, net of tax, for the period, divided by average TCE. Our calculation of return on average TCE may not be comparable to similarly-titled measures reported by other companies. See “Table 15: Calculation of Regulatory Capital Measures and Reconciliation of Non-GAAP Measures” for additional information on non-GAAP measures.
(10)Efficiency ratio is calculated based on total non-interest expense for the period divided by total net revenue for the period. We also provide an adjusted efficiency ratio, which is a non-GAAP measure. See “Table 15: Calculation of Regulatory Capital Measures and Reconciliation of Non-GAAP Measures” for additional information on our non-GAAP measures.
(11)Operating efficiency ratio is calculated based on operating expense for the period divided by total net revenue for the period. We also provide an adjusted operating efficiency ratio, which is a non-GAAP measure. See “Table 15: Calculation of Regulatory Capital Measures and Reconciliation of Non-GAAP Measures” for additional information on our non-GAAP measures.
(12)Net charge-off rate is calculated based on annualized net charge-offs for the period divided by average loans held for investment for the period.
(13)Capital ratios as of the end of Q3 2022 are preliminary and therefore subject to change. See “Table 15: Calculation of Regulatory Capital Measures and Reconciliation of Non-GAAP Measures” for information on the calculation of each of these ratios.
(14)TCE ratio is a non-GAAP measure calculated based on TCE divided by tangible assets. See “Table 15: Calculation of Regulatory Capital Measures and Reconciliation of Non-GAAP Measures” for additional information on non-GAAP measures.
**    Not meaningful.
8

CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 6: Average Balances, Net Interest Income and Net Interest Margin
2022 Q3 2022 Q2 2021 Q3
(Dollars in millions, except as noted) Average Balance Interest Income/ Expense
Yield/Rate(1)
 Average Balance Interest Income/ Expense
Yield/Rate(1)
 Average Balance Interest Income/ Expense Yield/Rate
Interest-earning assets:
Loans, including loans held for sale $ 300,952  $ 7,578  10.07  % $ 287,134  $ 6,605  9.20  % $ 260,235  $ 6,205  9.54  %
Investment securities 88,666  499  2.25  92,062  435  1.89  98,802  317  1.28 
Cash equivalents and other 22,553  123  2.19  19,738  55  1.10  28,729  16  0.22 
Total interest-earning assets $ 412,171  $ 8,200  7.96  $ 398,934  $ 7,095  7.11  $ 387,766  $ 6,538  6.74 
Interest-bearing liabilities:
Interest-bearing deposits $ 275,900  $ 689  1.00  $ 268,104  $ 293  0.44  $ 269,278  $ 228  0.34 
Securitized debt obligations 17,108  120  2.81  15,041  65  1.73  12,420  29  0.93 
Senior and subordinated notes 30,962  319  4.13  28,919  194  2.68  24,241  116  1.91 
Other borrowings and liabilities 12,296  69  2.20  10,922  26  0.98  2,357  9  1.49 
Total interest-bearing liabilities $ 336,266  $ 1,197  1.42  $ 322,986  $ 578  0.72  $ 308,296  $ 382  0.49 
Net interest income/spread $ 7,003  6.53  $ 6,517  6.40  $ 6,156  6.25 
Impact of non-interest-bearing funding 0.27  0.14  0.10 
Net interest margin 6.80  % 6.54  % 6.35  %
                                                                                                                                                                                                                            
Nine Months Ended September 30,
2022 2021
(Dollars in millions, except as noted) Average Balance Interest Income/ Expense
Yield/Rate(1)
 Average Balance Interest Income/ Expense Yield/Rate
Interest-earning assets:
Loans, including loans held for sale $ 289,116  $ 20,550  9.48  % $ 252,113  $ 17,812  9.42  %
Investment securities 91,788  1,336  1.94  99,059  1,078  1.45 
Cash equivalents and other 20,889  193  1.23  37,648  48  0.17 
Total interest-earning assets $ 401,793  $ 22,079  7.33  $ 388,820  $ 18,938  6.49 
Interest-bearing liabilities:
Interest-bearing deposits $ 271,957  $ 1,200  0.59  $ 272,022  $ 734  0.36 
Securitized debt obligations 15,309  214  1.87  11,851  89  1.00 
Senior and subordinated notes 28,804  644  2.98  25,555  367  1.92 
Other borrowings and liabilities 8,982  104  1.53  2,256  27  1.59 
Total interest-bearing liabilities $ 325,052  $ 2,162  0.89  $ 311,684  $ 1,217  0.52 
Net interest income/spread $ 19,917  6.44  $ 17,721  5.97 
Impact of non-interest-bearing funding 0.17  0.11 
Net interest margin 6.61  % 6.08  %

9

CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 7: Loan Information and Performance Statistics
2022 Q3 vs. Nine Months Ended September 30,
2022 2022 2022 2021 2021 2022 2021 2022 2021 2022 vs. 2021
(Dollars in millions, except as noted) Q3 Q2 Q1 Q4 Q3 Q2 Q3
Loans Held for Investment (Period-End)
Credit card:
   Domestic credit card $ 121,279  $ 115,004  $ 107,987  $ 108,723  $ 99,258  5  % 22  % $ 121,279  $ 99,258  22  %
   International card businesses 5,634  5,876  5,975  6,049  5,772  (4) (2) 5,634  5,772  (2)
Total credit card 126,913  120,880  113,962  114,772  105,030  5  21  126,913  105,030  21 
Consumer banking:
   Auto 79,580  79,926  78,604  75,779  74,716  —  7  79,580  74,716  7 
   Retail banking 1,619  1,605  1,726  1,867  2,396  1  (32) 1,619  2,396  (32)
Total consumer banking 81,199  81,531  80,330  77,646  77,112  —  5  81,199  77,112  5 
Commercial banking:
   Commercial and multifamily real estate 38,225  37,845  34,354  35,262  33,096  1  15  38,225  33,096  15 
   Commercial and industrial 57,606  56,128  51,820  49,660  46,152  3  25  57,606  46,152  25 
Total commercial banking 95,831  93,973  86,174  84,922  79,248  2  21  95,831  79,248  21 
Total loans held for investment $ 303,943  $ 296,384  $ 280,466  $ 277,340  $ 261,390  3  16  $ 303,943  $ 261,390  16 
Loans Held for Investment (Average)
Credit card:
   Domestic credit card $ 117,467  $ 109,962  $ 105,536  $ 102,717  $ 96,309  7  % 22  % $ 111,032  $ 93,493  19  %
   International card businesses 5,890  5,873  5,944  5,871  5,737  —  3  5,902  7,264  (19)
Total credit card 123,357  115,835  111,480  108,588  102,046  6  21  116,934  100,757  16 
Consumer banking:
   Auto 79,741  79,313  76,892  75,284  73,296  1  9  78,659  69,700  13 
   Retail banking 1,598  1,668  1,797  2,160  2,700  (4) (41) 1,687  2,969  (43)
Total consumer banking 81,339  80,981  78,689  77,444  75,996  —  7  80,346  72,669  11 
Commercial banking:
   Commercial and multifamily real estate 38,230  35,754  34,671  33,591  30,314  7  26  36,231  30,100  20 
   Commercial and industrial 57,260  53,540  50,502  47,536  44,745  7  28  53,793  44,341  21 
Total commercial banking 95,490  89,294  85,173  81,127  75,059  7  27  90,024  74,441  21 
Total average loans held for investment $ 300,186  $ 286,110  $ 275,342  $ 267,159  $ 253,101  5  19  $ 287,304  $ 247,867  16 
10

2022 Q3 vs. Nine Months Ended September 30,
2022 2022 2022 2021 2021 2022 2021 2022 2021 2022 vs. 2021
Q3 Q2 Q1 Q4 Q3 Q2 Q3
Net Charge-Off (Recovery) Rates
Credit card:
   Domestic credit card(2)
 2.20  % 2.26  % 2.12  % 1.49  % 1.36  % (6) bps 84  bps 2.19  % 2.05  % 14  bps
   International card businesses 3.30  3.82  3.20  0.14  2.72  (52) 58  3.44  2.45  99 
Total credit card 2.25  2.34  2.18  1.42  1.43  (9) 82  2.26  2.08  18 
Consumer banking:
   Auto 1.05  0.61  0.66  0.58  0.18  44  87  0.77  0.17  60 
   Retail banking 3.89  3.62  4.31  6.69  2.45  27  144  3.95  1.82  213 
Total consumer banking 1.10  0.67  0.75  0.75  0.27  43  83  0.84  0.24  60 
Commercial banking:
   Commercial and multifamily real estate 0.03  (0.08) —  —  0.01  11  2  (0.02) 0.04  (6)
   Commercial and industrial 0.06  0.29  0.11  (0.03) 0.07  (23) (1) 0.15  (0.01) 16 
Total commercial banking 0.05  0.14  0.06  (0.02) 0.05  (9) —  0.08  0.01  7 
Total net charge-offs 1.24  1.18  1.11  0.79  0.67  6  57  1.18  0.92  26 
30+ Day Performing Delinquency Rates
Credit card:
   Domestic credit card 2.97  % 2.35  % 2.32  % 2.22  % 1.93  % 62  bps 104  bps 2.97  % 1.93  % 104  bps
   International card businesses 3.90  3.67  3.58  3.42  3.27  23  63  3.90  3.27  63 
Total credit card 3.01  2.42  2.38  2.28  2.00  59  101  3.01  2.00  101 
Consumer banking:
   Auto 4.85  4.47  3.85  4.32  3.65  38  120  4.85  3.65  120 
   Retail banking 0.84  0.67  0.74  1.92  1.15  17  (31) 0.84  1.15  (31)
Total consumer banking 4.77  4.39  3.78  4.26  3.58  38  119  4.77  3.58  119 
Nonperforming Loans and Nonperforming Assets Rates(3)(4)
Credit card:
   International card businesses 0.14  % 0.13  % 0.14  % 0.16  % 0.16  % 1  bps (2) bps 0.14  % 0.16  % (2) bps
Total credit card 0.01  0.01  0.01  0.01  0.01  —  —  0.01  0.01  — 
Consumer banking:
   Auto 0.60  0.50  0.41  0.45  0.36  10  24  0.60  0.36  24 
   Retail banking 2.62  2.61  2.63  2.51  2.20  1  42  2.62  2.20  42 
Total consumer banking 0.64  0.54  0.46  0.50  0.42  10  22  0.64  0.42  22 
Commercial banking:
   Commercial and multifamily real estate 0.64  0.78  0.98  1.09  0.87  (14) (23) 0.64  0.87  (23)
   Commercial and industrial 0.53  0.64  0.69  0.64  0.68  (11) (15) 0.53  0.68  (15)
Total commercial banking 0.57  0.70  0.81  0.82  0.76  (13) (19) 0.57  0.76  (19)
Total nonperforming loans 0.35  0.37  0.38  0.40  0.35  (2) —  0.35  0.35  — 
Total nonperforming assets 0.37  0.39  0.40  0.41  0.37  (2) —  0.37  0.37  — 
11

CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 8: Allowance for Credit Losses and Reserve for Unfunded Lending Commitments Activity

Three Months Ended September 30, 2022
Credit Card Consumer Banking
(Dollars in millions) Domestic Card International Card Businesses Total Credit Card Auto Retail Banking Total Consumer Banking Commercial Banking Total
Allowance for credit losses:
Balance as of June 30, 2022 $ 7,840  $ 326  $ 8,166  $ 1,999  $ 48  $ 2,047  $ 1,278  $ 11,491 
Charge-offs (960) (87) (1,047) (389) (21) (410) (13) (1,470)
Recoveries 313  39  352  181  5  186  1  539 
Net charge-offs (647) (48) (695) (208) (16) (224) (12) (931)
Provision for credit losses 1,167  94  1,261  266  19  285  119  1,665 
Allowance build for credit losses 520  46  566  58  3  61  107  734 
Other changes(5)
 10 (26) (16) — — — — (16)
Balance as of September 30, 2022 8,370  346  8,716  2,057  51  2,108  1,385  12,209 
Reserve for unfunded lending commitments:
Balance as of June 30, 2022 — — — — — — 239  239 
Provision for losses on unfunded lending commitments — — — — — — 4  4 
Balance as of September 30, 2022 — — — — — — 243  243 
Combined allowance and reserve as of September 30, 2022 $ 8,370  $ 346  $ 8,716  $ 2,057  $ 51  $ 2,108  $ 1,628  $ 12,452 
Nine Months Ended September 30, 2022
Credit Card Consumer Banking
(Dollars in millions) Domestic Card International Card Businesses Total Credit Card Auto Retail Banking Total Consumer Banking Commercial Banking Total
Allowance for credit losses:
Balance as of December 31, 2021 $ 7,968  $ 377  $ 8,345  $ 1,852  $ 66  $ 1,918  $ 1,167  $ 11,430 
Charge-offs (2,747) (264) (3,011) (1,026) (64) (1,090) (73) (4,174)
Recoveries 919  112  1,031  570  14  584  16  1,631 
Net charge-offs (1,828) (152) (1,980) (456) (50) (506) (57) (2,543)
Provision for credit losses 2,220  167  2,387  661  35  696  275  3,358 
Allowance build (release) for credit losses 392  15  407  205  (15) 190  218  815 
Other changes(5)
 10 (46) (36) — — — — (36)
Balance as of September 30, 2022 8,370  346  8,716  2,057  51  2,108  1,385  12,209 
Reserve for unfunded lending commitments:
Balance as of December 31, 2021 — — — — — — 165  165 
Provision for losses on unfunded lending commitments — — — — — — 78  78 
Balance as of September 30, 2022 — — — — — — 243  243 
Combined allowance and reserve as of September 30, 2022 $ 8,370  $ 346  $ 8,716  $ 2,057  $ 51  $ 2,108  $ 1,628  $ 12,452 
12

CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 9: Financial Summary—Business Segment Results
Three Months Ended September 30, 2022 Nine Months Ended September 30, 2022
(Dollars in millions) Credit Card Consumer Banking
Commercial Banking(6)
Other(6)
 Total Credit Card Consumer Banking
Commercial Banking(6)
Other(6)
 Total
Net interest income (loss) $ 4,313  $ 2,311  $ 699  $ (320) $ 7,003  $ 12,051  $ 6,571  $ 1,941  $ (646) $ 19,917 
Non-interest income (loss) 1,454  129  319  (100) 1,802  4,322  330  868  (227) 5,293 
Total net revenue (loss) 5,767  2,440  1,018  (420) 8,805  16,373  6,901  2,809  (873) 25,210 
Provision (benefit) for credit losses 1,261  285  123  —  1,669  2,387  696  353  (5) 3,431 
Non-interest expense 3,004  1,340  542  63  4,949  8,558  3,862  1,515  148  14,083 
Income (loss) from continuing operations before income taxes 1,502  815  353  (483) 2,187  5,428  2,343  941  (1,016) 7,696 
Income tax provision (benefit) 356  193  83  (139) 493  1,291  555  223  (501) 1,568 
Income (loss) from continuing operations, net of tax $ 1,146  $ 622  $ 270  $ (344) $ 1,694  $ 4,137  $ 1,788  $ 718  $ (515) $ 6,128 
Three Months Ended June 30, 2022
(Dollars in millions) Credit Card Consumer Banking
Commercial Banking(6)
Other(6)
 Total
Net interest income (loss) $ 3,899  $ 2,147  $ 635  $ (164) $ 6,517 
Non-interest income (loss) 1,410  96  272  (63) 1,715 
Total net revenue (loss) 5,309  2,243  907  (227) 8,232 
Provision for credit losses 581  281  222  1  1,085 
Non-interest expense 2,771  1,286  485  41  4,583 
Income (loss) from continuing operations before income taxes 1,957  676  200  (269) 2,564 
Income tax provision (benefit) 466  160  48  (141) 533 
Income (loss) from continuing operations, net of tax $ 1,491  $ 516  $ 152  $ (128) $ 2,031 
Three Months Ended September 30, 2021 Nine Months Ended September 30, 2021
(Dollars in millions) Credit Card Consumer Banking
Commercial Banking(6)
Other(6)
 Total Credit Card Consumer Banking
Commercial Banking(6)
Other(6)
 Total
Net interest income (loss) $ 3,620  $ 2,159  $ 578  $ (201) $ 6,156  $ 10,209  $ 6,290  $ 1,558  $ (336) $ 17,721 
Non-interest income (loss) 1,263  127  306  (22) 1,674  3,545  412  803  (164) 4,596 
Total net revenue (loss) 4,883  2,286  884  (223) 7,830  13,754  6,702  2,361  (500) 22,317 
Provision (benefit) for credit losses (198) (91) (53) —  (342) (1,325) (523) (475) (2) (2,325)
Non-interest expense 2,424  1,186  459  117  4,186  6,822  3,426  1,295  349  11,892 
Income (loss) from continuing operations before income taxes 2,657  1,191  478  (340) 3,986  8,257  3,799  1,541  (847) 12,750 
Income tax provision (benefit) 627  282  113  (140) 882  1,952  897  364  (431) 2,782 
Income (loss) from continuing operations, net of tax $ 2,030  $ 909  $ 365  $ (200) $ 3,104  $ 6,305  $ 2,902  $ 1,177  $ (416) $ 9,968 

13

CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 10: Financial & Statistical Summary—Credit Card Business
2022 Q3 vs. Nine Months Ended September 30,
2022 2022 2022 2021 2021 2022 2021 2022 vs.
(Dollars in millions, except as noted) Q3 Q2 Q1 Q4 Q3 Q2 Q3 2022 2021 2021
Credit Card
Earnings:
Net interest income $ 4,313  $ 3,899  $ 3,839  $ 3,865  $ 3,620  11% 19% $ 12,051  $ 10,209  18%
Non-interest income 1,454  1,410  1,458  1,261  1,263  3  15  4,322  3,545  22 
Total net revenue 5,767  5,309  5,297  5,126  4,883  9  18  16,373  13,754  19 
Provision (benefit) for credit losses 1,261  581  545  423  (198) 117  ** 2,387  (1,325) **
Non-interest expense 3,004  2,771  2,783  2,799  2,424  8  24  8,558  6,822  25 
Income from continuing operations before income taxes 1,502  1,957  1,969  1,904  2,657  (23) (43) 5,428  8,257  (34)
Income tax provision 356  466  469  451  627  (24) (43) 1,291  1,952  (34)
Income from continuing operations, net of tax $ 1,146  $ 1,491  $ 1,500  $ 1,453  $ 2,030  (23) (44) $ 4,137  $ 6,305  (34)
Selected performance metrics:
Period-end loans held for investment $ 126,913 $ 120,880 $ 113,962 $ 114,772 $ 105,030 5  21  $ 126,913 $ 105,030 21 
Average loans held for investment 123,357 115,835 111,480 108,588 102,046 6  21  116,934 100,757 16 
Average yield on loans outstanding(1)
 16.74  % 15.24  % 14.97  % 14.94  % 14.88  % 150  bps 186  bps 15.67  % 14.47  % 120  bps
Total net revenue margin(7)
 18.70  18.33  18.56  18.11  18.33  37  37  18.53  17.70  83 
Net charge-off rate
2.25  2.34  2.18  1.42  1.43  (9) 82  2.26  2.08  18 
30+ day performing delinquency rate 3.01  2.42  2.38  2.28  2.00  59  101  3.01  2.00  101 
30+ day delinquency rate 3.02  2.42  2.39  2.29  2.00  60  102  3.02  2.00  102 
Nonperforming loan rate(3)
 0.01  0.01  0.01  0.01  0.01  —  —  0.01  0.01  — 
Purchase volume(8)
 $ 149,497 $ 148,491 $ 133,662 $ 149,982 $ 136,614 1% 9% $ 431,650 $ 377,623 14%
14

2022 Q3 vs. Nine Months Ended September 30,
2022 2022 2022 2021 2021 2022 2021 2022 vs.
(Dollars in millions, except as noted) Q3 Q2 Q1 Q4 Q3 Q2 Q3 2022 2021 2021
Domestic Card
Earnings:
Net interest income $ 4,065  $ 3,651  $ 3,620  $ 3,558  $ 3,319  11% 22% $ 11,336  $ 9,358  21%
Non-interest income 1,383  1,340  1,248  1,190  1,200  3  15  3,971  3,342  19 
Total net revenue 5,448  4,991  4,868  4,748  4,519  9  21  15,307  12,700  21 
Provision (benefit) for credit losses 1,167  494  559  384  (200) 136  ** 2,220  (1,252) **
Non-interest expense 2,803  2,594  2,564  2,564  2,191  8  28  7,961  6,148  29 
Income from continuing operations before income taxes 1,478  1,903  1,745  1,800  2,528  (22) (42) 5,126  7,804  (34)
Income tax provision 351  450  414  424  597  (22) (41) 1,215  1,842  (34)
Income from continuing operations, net of tax $ 1,127  $ 1,453  $ 1,331  $ 1,376  $ 1,931  (22) (42) $ 3,911  $ 5,962  (34)
Selected performance metrics:
Period-end loans held for investment $ 121,279 $ 115,004 $ 107,987 $ 108,723 $ 99,258 5  22  $ 121,279 $ 99,258 22 
Average loans held for investment 117,467 109,962 105,536 102,717 96,309 7  22  111,032 93,493 19 
Average yield on loans outstanding(1)
 16.61  % 15.03  % 14.82  % 14.86  % 14.80  % 158  bps 181  bps 15.51  % 14.36  % 115  bps
Total net revenue margin(7)
 18.55  18.16  18.28  18.14  18.40  39  15  18.33  17.74  59 
Net charge-off rate (2)
 2.20  2.26  2.12  1.49  1.36  (6) 84  2.19  2.05  14 
30+ day performing delinquency rate 2.97  2.35  2.32  2.22  1.93  62  104  2.97  1.93  104 
Purchase volume(8)
 $ 145,805 $ 144,668 $ 126,284 $ 138,825 $ 126,057 1% 16% $ 416,757 $ 348,472 20%
Refreshed FICO scores:(9)
Greater than 660 70  % 70  % 70  % 71  % 71  % —  (1) 70  % 71  % (1)
660 or below 30  30  30  29  29  —  1  30  29  1 
Total 100  % 100  % 100  % 100  % 100  % 100  % 100  %
15

CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 11: Financial & Statistical Summary—Consumer Banking Business
2022 Q3 vs. Nine Months Ended September 30,
2022 2022 2022 2021 2021 2022 2021 2022 vs.
(Dollars in millions, except as noted) Q3 Q2 Q1 Q4 Q3 Q2 Q3 2022 2021 2021
Consumer Banking
Earnings:
Net interest income $ 2,311  $ 2,147  $ 2,113  $ 2,158  $ 2,159  8% 7% $ 6,571  $ 6,290  4%
Non-interest income 129  96  105  142  127  34  2  330  412  (20)
Total net revenue 2,440  2,243  2,218  2,300  2,286  9  7  6,901  6,702  3 
Provision (benefit) for credit losses 285  281  130  2  (91) 1  ** 696  (523) **
Non-interest expense 1,340  1,286  1,236  1,285  1,186  4  13  3,862  3,426  13 
Income from continuing operations before income taxes 815  676  852  1,013  1,191  21  (32) 2,343  3,799  (38)
Income tax provision 193  160  202  239  282  21  (32) 555  897  (38)
Income from continuing operations, net of tax $ 622  $ 516  $ 650  $ 774  $ 909  21  (32) $ 1,788  $ 2,902  (38)
Selected performance metrics:
Period-end loans held for investment $ 81,199 $ 81,531 $ 80,330 $ 77,646 $ 77,112 —  5  $ 81,199 $ 77,112 5 
Average loans held for investment 81,339 80,981 78,689 77,444 75,996 —  7  80,346 72,669 11 
Average yield on loans held for investment(1)
 7.20  % 7.08  % 7.17  % 7.55  % 7.78  % 12  bps (58) bps 7.15  % 7.97  % (82) bps
Auto loan originations $ 8,289 $ 10,328 $ 11,713 $ 9,721 $ 11,570 (20)% (28)% $ 30,330 $ 33,362 (9)%
Period-end deposits 256,661 255,904 258,359 256,407 252,387 —  2  256,661 252,387 2 
Average deposits 255,843 254,336 255,265 253,372 251,307 1  2  255,150 251,105 2 
Average deposits interest rate 0.79  % 0.38  % 0.29  % 0.30  % 0.30  % 41  bps 49  bps 0.49  % 0.32  % 17  bps
Net charge-off rate 1.10  0.67  0.75  0.75  0.27  43  83  0.84  0.24  60 
30+ day performing delinquency rate 4.77  4.39  3.78  4.26  3.58  38  119  4.77  3.58  119 
30+ day delinquency rate 5.28  4.81  4.13  4.66  3.88  47  140  5.28  3.88  140 
Nonperforming loan rate(3)
 0.64  0.54  0.46  0.50  0.42  10  22  0.64  0.42  22 
Nonperforming asset rate(4)
 0.71  0.60  0.52  0.56  0.47  11  24  0.71  0.47  24 
Auto—At origination FICO scores:(10)
Greater than 660 52  % 52  % 51  % 50  % 49  % —  3% 52  % 49  % 3%
621 - 660 20  20  20  20  20  —  —  20  20  — 
620 or below 28  28  29  30  31  —  (3) 28  31  (3)
Total 100  % 100  % 100  % 100  % 100  % 100  % 100  %
16

CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 12: Financial & Statistical Summary—Commercial Banking Business
2022 Q3 vs. Nine Months Ended September 30,
2022 2022 2022 2021 2021 2022 2021 2022 vs.
(Dollars in millions, except as noted) Q3 Q2 Q1 Q4 Q3 Q2 Q3 2022 2021 2021
Commercial Banking
Earnings:
Net interest income $ 699  $ 635  $ 607  $ 595  $ 578  10% 21% $ 1,941 $ 1,558 25%
Non-interest income 319  272  277  345  306  17  4  868 803 8 
Total net revenue(6)
 1,018  907  884  940  884  12  15  2,809 2,361 19 
Provision (benefit) for credit losses 123  222  8  (44) (53) (45) ** 353 (475) **
Non-interest expense 542  485  488  520  459  12  18  1,515 1,295 17 
Income from continuing operations before income taxes 353  200  388  464  478  77  (26) 941 1,541 (39)
Income tax provision 83  48  92  109  113  73  (27) 223 364 (39)
Income from continuing operations, net of tax $ 270  $ 152  $ 296  $ 355  $ 365  78  (26) $ 718 $ 1,177 (39)
Selected performance metrics:
Period-end loans held for investment $ 95,831 $ 93,973 $ 86,174 $ 84,922 $ 79,248 2  21  $ 95,831 $ 79,248 21 
     Average loans held for investment 95,490 89,294 85,173 81,127 75,059 7  27  90,024 74,441 21 
Average yield on loans held for investment(1)(6)
 4.40  % 3.18  % 2.66  % 2.71  % 2.77  % 122  bps 163  bps 3.44  % 2.75  % 69  bps
Period-end deposits $ 41,058 $ 38,844 $ 45,232 $ 44,809 $ 43,347 6% (5)% $ 41,058 $ 43,347 (5)%
Average deposits 39,799 40,536 45,008 44,206 42,729 (2) (7) 41,762 41,725 —
Average deposits interest rate 0.83  % 0.19  % 0.12  % 0.12  % 0.15  % 64  bps 68  bps 0.37  % 0.15  % 22  bps
Net charge-off (recovery) rate 0.05  0.14  0.06  (0.02) 0.05  (9) — 0.08  0.01  7 
Nonperforming loan rate(3)
 0.57  0.70  0.81  0.82  0.76  (13) (19) 0.57  0.76  (19)
Nonperforming asset rate(4)
 0.57  0.70  0.81  0.82  0.76  (13) (19) 0.57  0.76  (19)
Risk category:(11)
Noncriticized $ 89,559 $ 88,349 $ 80,586 $ 79,014 $ 73,218 1% 22% $ 89,559 $ 73,218 22%
Criticized performing 5,722 4,969 4,893 5,209 5,429 15  5  5,722 5,429 5 
Criticized nonperforming 550 655 695 699 601 (16) (8) 550 601 (8)
Total commercial banking loans $ 95,831 $ 93,973 $ 86,174 $ 84,922 $ 79,248 2  21  $ 95,831 $ 79,248 21 
Risk category as a percentage of period-end loans held for investment:(11)
Noncriticized 93.46  % 94.01  % 93.51  % 93.05  % 92.39  % (55) bps 107  bps 93.46  % 92.39  % 107  bps
Criticized performing 5.97  5.29  5.68  6.13  6.85  68  (88) 5.97  6.85  (88)
Criticized nonperforming 0.57  0.70  0.81  0.82  0.76  (13) (19) 0.57  0.76  (19)
Total commercial banking loans 100.00  % 100.00  % 100.00  % 100.00  % 100.00  % 100.00  % 100.00  %
17

CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 13: Financial & Statistical Summary—Other and Total
2022 Q3 vs. Nine Months Ended September 30,
2022 2022 2022 2021 2021 2022 2021 2022 vs.
(Dollars in millions) Q3 Q2 Q1 Q4 Q3 Q2 Q3 2022 2021 2021
Other
Earnings:
Net interest loss $ (320) $ (164) $ (162) $ (168) $ (201) 95% 59% $ (646) $ (336) 92%
Non-interest loss (100) (63) (64) (80) (22) 59 ** (227) (164) 38
Total net loss(6)
 (420) (227) (226) (248) (223) 85 88 (873) (500) 75
Provision (benefit) for credit losses — 1 (6) — — ** — (5) (2) 150
Non-interest expense(12)
 63 41 44 74 117 54 (46) 148 349 (58)
Loss from continuing operations before income taxes (483) (269) (264) (322) (340) 80 42 (1,016) (847) 20
Income tax benefit (139) (141) (221) (166) (140) (1) (1) (501) (431) 16
Loss from continuing operations, net of tax $ (344) $ (128) $ (43) $ (156) $ (200) 169 72 $ (515) $ (416) 24
Selected performance metrics:
Period-end deposits $ 19,474  $ 13,137  $ 9,838  $ 9,764  $ 10,204  48 91 $ 19,474  $ 10,204  91
Average deposits 16,286  11,082  9,324  9,694  10,999  47 48 12,256  13,272  (8)
Total
Earnings:
Net interest income $ 7,003  $ 6,517  $ 6,397  $ 6,450  $ 6,156  7% 14% $ 19,917  $ 17,721  12%
Non-interest income 1,802  1,715  1,776  1,668  1,674  5 8 5,293  4,596  15
Total net revenue 8,805  8,232  8,173  8,118  7,830  7 12 25,210  22,317  13
Provision (benefit) for credit losses 1,669  1,085  677  381  (342) 54 ** 3,431  (2,325) **
Non-interest expense 4,949  4,583  4,551  4,678  4,186  8 18 14,083  11,892  18
Income from continuing operations before income taxes 2,187  2,564  2,945  3,059  3,986  (15) (45) 7,696  12,750  (40)
Income tax provision 493  533  542  633  882  (8) (44) 1,568  2,782  (44)
Income from continuing operations, net of tax $ 1,694  $ 2,031  $ 2,403  $ 2,426  $ 3,104  (17) (45) $ 6,128  $ 9,968  (39)
Selected performance metrics:
Period-end loans held for investment $ 303,943  $ 296,384  $ 280,466  $ 277,340  $ 261,390  3 16 $ 303,943  $ 261,390  16
Average loans held for investment 300,186  286,110  275,342  267,159  253,101  5 19 287,304  247,867  16
Period-end deposits 317,193  307,885  313,429  310,980  305,938  3 4 317,193  305,938  4
Average deposits 311,928  305,954  309,597  307,272  305,035  2 2 309,168  306,102  1
18

CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 14: Notes to Net Interest Margin, Loan, Allowance and Business Segment Disclosures (Tables 6—13)

(1)Average yield is calculated based on annualized interest income for the period divided by average loans during the period. Annualized interest income does not include any allocations, such as funds transfer pricing. Average yield is calculated using whole dollar values for average balances and interest income/expense. Accordingly, total interest earning assets less total interest bearing liabilities may not total net interest income/spread.
(2)In August 2022, in addition to our normal recovery activity, we sold a pool of charged-off loans that resulted in elevated debt sale recovery activity of approximately $33 million, which decreased the Domestic Credit Card net charge-off rate for the third quarter of 2022 by approximately 11 basis points. Excluding the impact, the Domestic Credit Card net charge-off rate would have been 2.31% for the third quarter of 2022.
(3)Nonperforming loan rates are calculated based on nonperforming loans for each category divided by period-end total loans held for investment for each respective category. For Commercial Banking, loans categorized as nonperforming are considered criticized nonperforming.
(4)Nonperforming assets consist of nonperforming loans, repossessed assets and other foreclosed assets. The total nonperforming asset rate is calculated based on total nonperforming assets divided by the combined period-end total loans held for investment, repossessed assets and other foreclosed assets.
(5)Primarily represents foreign currency translation adjustments and initial allowance builds for purchase credit-deteriorated loans.
(6)Some of our commercial investments generate tax-exempt income, tax credits or other tax benefits. Accordingly, we present our Commercial Banking revenue and yields on a taxable-equivalent basis, calculated using the federal statutory tax rate of 21% and state taxes where applicable, with offsetting reductions to the Other category.
(7)Total net revenue margin is calculated based on total net revenue for the period divided by average loans outstanding during the period.
(8)Purchase volume consists of purchase transactions, net of returns, for the period, and excludes cash advance and balance transfer transactions.
(9)Percentages represent period-end loans held for investment in each credit score category. Domestic Card credit scores generally represent FICO scores. These scores are obtained from one of the major credit bureaus at origination and are refreshed monthly thereafter. We approximate non-FICO credit scores to comparable FICO scores for consistency purposes. Balances for which no credit score is available or the credit score is invalid are included in the 660 or below category.
(10)Percentages represent period-end loans held for investment in each credit score category. Auto credit scores generally represent average FICO scores obtained from three credit bureaus at the time of application and are not refreshed thereafter. Balances for which no credit score is available or the credit score is invalid are included in the 620 or below category.
(11)Criticized exposures correspond to the “Special Mention,” “Substandard” and “Doubtful” asset categories defined by bank regulatory authorities.
(12)Includes charges incurred as a result of restructuring activities.
**    Not meaningful.
19

CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 15: Calculation of Regulatory Capital Measures and Reconciliation of Non-GAAP Measures(1)
Basel III Standardized Approach
(Dollars in millions, except as noted) September 30,
2022		 June 30,
2022		 March 31,
2022		 December 31,
2021		 September 30,
2021
Regulatory Capital Metrics
Common equity excluding AOCI $ 58,516  $ 57,278 $ 57,390 $ 58,206 $ 58,705
Adjustments:
AOCI, net of tax(2)
 (120) (72) (20) (23) (33)
Goodwill, net of related deferred tax liabilities (14,537) (14,548) (14,559) (14,562) (14,435)
Intangible assets, net of related deferred tax liabilities (180) (80) (94) (108) (84)
Other (14) (15) (16) (12) (15)
Common equity Tier 1 capital $ 43,665  $ 42,563 $ 42,701 $ 43,501 $ 44,138
Tier 1 capital $ 48,510  $ 47,408 $ 47,547 $ 48,346 $ 50,049
Total capital(3)
 55,938  55,100 55,059 56,089 57,851
Risk-weighted assets 356,817  351,746 336,739 332,673 318,729
Adjusted average assets(4)
 439,479  427,446 418,957 415,141 411,216
Capital Ratios
Common equity Tier 1 capital(5)
 12.2  % 12.1  % 12.7  % 13.1  % 13.8  %
Tier 1 capital(6)
 13.6  13.5  14.1  14.5  15.7 
Total capital(7)
 15.7  15.7  16.4  16.9  18.2 
Tier 1 leverage(4)
 11.0  11.1  11.3  11.6  12.2 
Tangible common equity (“TCE”)(8)
 7.2  7.9  8.7  9.9  10.4 


20

Reconciliation of Non-GAAP Measures

The following non-GAAP measures consist of our adjusted results that we believe help investors and users of our financial information understand the effect of adjusting items on our selected reported results. These adjusted results provide alternate measurements of our operating performance, both for the current period and trends across multiple periods. The following tables present reconciliations of these non-GAAP measures to the applicable amounts measured in accordance with GAAP.
2022 2022 2022 2021 2021 Nine Months Ended September 30,
(Dollars in millions, except per share data and as noted) Q3 Q2 Q1 Q4 Q3 2022 2021
Adjusted diluted earnings per share (“EPS”):
Net income available to common stockholders (GAAP) $ 1,616 $ 1,949  $ 2,318 $ 2,296 $ 2,987 $ 5,883 $ 9,669
Legal reserve activity, including insurance recoveries — — — — 45 — 100
Adjusted net income available to common stockholders before income tax impacts (non-GAAP) 1,616 1,949  2,318 2,296 3,032 5,883 9,769
Income tax impacts — — — — (11) — (24)
Adjusted net income available to common stockholders (non-GAAP) $ 1,616 $ 1,949  $ 2,318 $ 2,296 $ 3,021 $ 5,883 $ 9,745
Diluted weighted-average common shares outstanding (in millions) (GAAP) 384.6 392.6  412.2 424.3 440.5 396.4 450.9
Diluted EPS (GAAP) $ 4.20 $ 4.96  $ 5.62 $ 5.41 $ 6.78 $ 14.84 $ 21.44
Impact of adjustments noted above — — — — 0.08 — 0.17
Adjusted diluted EPS (non-GAAP) $ 4.20 $ 4.96  $ 5.62 $ 5.41 $ 6.86 $ 14.84 $ 21.61
Adjusted efficiency ratio:
Non-interest expense (GAAP) $ 4,949 $ 4,583  $ 4,551 $ 4,678 $ 4,186 $ 14,083 $ 11,892
Legal reserve activity, including insurance recoveries — — — — (45) — (100)
Adjusted non-interest expense (non-GAAP) $ 4,949 $ 4,583  $ 4,551 $ 4,678 $ 4,141 $ 14,083 $ 11,792
Total net revenue (GAAP) $ 8,805 $ 8,232  $ 8,173 $ 8,118 $ 7,830 $ 25,210 $ 22,317
Efficiency ratio (GAAP) 56.21% 55.67% 55.68% 57.63% 53.46% 55.86% 53.29%
Impact of adjustments noted above — — — —  (57) bps — (45) bps
Adjusted efficiency ratio (non-GAAP) 56.21% 55.67% 55.68% 57.63% 52.89% 55.86% 52.84%
Adjusted operating efficiency ratio:
Operating expense (GAAP) $ 3,971 $ 3,580  $ 3,633 $ 3,679 $ 3,435 $ 11,184 $ 10,020
Legal reserve activity, including insurance recoveries — — — — (45) — (100)
Adjusted operating expense (non-GAAP) $ 3,971 $ 3,580  $ 3,633 $ 3,679 $ 3,390 $ 11,184 $ 9,920
Total net revenue (GAAP) $ 8,805 $ 8,232  $ 8,173 $ 8,118 $ 7,830 $ 25,210 $ 22,317
Operating efficiency ratio (GAAP) 45.10% 43.49% 44.45% 45.32% 43.87% 44.36% 44.90%
Impact of adjustments noted above — — — —  (57) bps — (45) bps
Adjusted operating efficiency ratio (non-GAAP) 45.10% 43.49% 44.45% 45.32% 43.30% 44.36% 44.45%

21

Reconciliation of Non-GAAP Measures

The following non-GAAP measures consist of TCE, tangible assets and metrics computed using these amounts, which include tangible book value per common share, return on average tangible assets, return on average TCE and TCE ratio. We consider these metrics to be key financial performance measures that management uses in assessing capital adequacy and the level of returns generated. While our non-GAAP measures are widely used by investors, analysts and bank regulatory agencies to assess the capital position of financial services companies, they may not be comparable to similarly-titled measures reported by other companies. The following tables present reconciliations of these non-GAAP measures to the applicable amounts measured in accordance with GAAP.
2022 2022 2022 2021 2021
(Dollars in millions) Q3 Q2 Q1 Q4 Q3
Tangible Common Equity (Period-End)
Stockholders’ equity $ 50,861  $ 53,410  $ 56,345  $ 61,029  $ 63,544 
Goodwill and intangible assets(9)
 (14,932) (14,850) (14,883) (14,907) (14,766)
Noncumulative perpetual preferred stock (4,845) (4,845) (4,845) (4,845) (5,912)
Tangible common equity $ 31,084  $ 33,715  $ 36,617  $ 41,277  $ 42,866 
Tangible Common Equity (Average)
Stockholders’ equity $ 54,541  $ 54,165  $ 59,437  $ 62,498  $ 64,682 
Goodwill and intangible assets(9)
 (14,916) (14,875) (14,904) (14,847) (14,777)
Noncumulative perpetual preferred stock (4,845) (4,845) (4,845) (5,552) (6,452)
Tangible common equity $ 34,780  $ 34,445  $ 39,688  $ 42,099  $ 43,453 
Tangible Assets (Period-End)
Total assets $ 444,232  $ 440,288  $ 434,195  $ 432,381  $ 425,377 
Goodwill and intangible assets(9)
 (14,932) (14,850) (14,883) (14,907) (14,766)
Tangible assets $ 429,300  $ 425,438  $ 419,312  $ 417,474  $ 410,611 
Tangible Assets (Average)
Total assets $ 447,088  $ 435,327  $ 430,372  $ 427,845  $ 424,506 
Goodwill and intangible assets(9)
 (14,916) (14,875) (14,904) (14,847) (14,777)
Tangible assets $ 432,172  $ 420,452  $ 415,468  $ 412,998  $ 409,729 
__________
(1)Regulatory capital metrics and capital ratios as of September 30, 2022 are preliminary and therefore subject to change.    
(2)Excludes certain components of AOCI as permitted under the Tailoring Rules.
(3)Total capital equals the sum of Tier 1 capital and Tier 2 capital.
(4)Adjusted average assets for the purpose of calculating our Tier 1 leverage ratio represents total average assets adjusted for amounts that are deducted from Tier 1 capital, predominately goodwill and intangible assets. Tier 1 leverage ratio is a regulatory capital measure calculated based on Tier 1 capital divided by adjusted average assets.
(5)Common equity Tier 1 capital ratio is a regulatory capital measure calculated based on common equity Tier 1 capital divided by risk-weighted assets.
(6)Tier 1 capital ratio is a regulatory capital measure calculated based on Tier 1 capital divided by risk-weighted assets.
(7)Total capital ratio is a regulatory capital measure calculated based on total capital divided by risk-weighted assets.
(8)TCE ratio is a non-GAAP measure calculated based on TCE divided by tangible assets.
(9)Includes impact of related deferred taxes.
22