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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

January 21, 2025
Date of Report (Date of earliest event reported)
____________________________________
CAPITAL ONE FINANCIAL CORPORATION
(Exact name of registrant as specified in its charter)
____________________________________
Delaware001-1330054-1719854
(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 ClassTrading 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 ICOF 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 JCOF 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 KCOF 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 LCOF 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 NCOF PRN
New York Stock Exchange
1.650% Senior Notes Due 2029COF29
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 January 21, 2025, Capital One Financial Corporation (the “Company”) issued a press release announcing its financial results for the fourth quarter ended December 31, 2024. 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
104The 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 January 21, 2025 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 February 4, 2025 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: January 21, 2025By:/s/ TIMOTHY P. GOLDEN
Timothy P. Golden
SVP, Controller and Principal Accounting Officer

3

Exhibit 99.1
News Release
earningsslidesvfinal1b58aa.jpg
Contacts:
Investor RelationsMedia Relations
Jeff NorrisDanielle DietzSie Soheili
jeff.norris@capitalone.comdanielle.dietz@capitalone.comsie.soheili@capitalone.com

FOR IMMEDIATE RELEASE: January 21, 2025
Capital One Reports Fourth Quarter 2024 Net Income of $1.1 billion,
or $2.67 per share
Net of adjusting items, Fourth Quarter 2024 Net Income of $3.09 per share(1)
McLean, Va. (January 21, 2025) – Capital One Financial Corporation (NYSE: COF) today announced net income for the fourth quarter of 2024 of $1.1 billion, or $2.67 per diluted common share, compared with net income of $1.8 billion, or $4.41 per diluted common share in the third quarter of 2024, and with net income of $706 million, or $1.67 per diluted common share in the fourth quarter of 2023. Adjusted net income(1) for the fourth quarter of 2024 was $3.09 per diluted common share.
“Our fourth quarter results included steady top-line growth in our domestic card business, strong originations and a return to loan growth in our auto business, and stable credit results across our businesses,” said Richard D. Fairbank, Founder, Chairman, and Chief Executive Officer. “The shareholder votes on the Discover acquisition are scheduled for February 18th, and we continue to work closely with our regulators as our applications work their way through the regulatory approval process. We remain well positioned to complete the acquisition in early 2025, subject to regulatory and shareholder approvals.”
The quarter included the following adjusting items:
(Dollars in millions, except per share data)Pre-Tax
Impact		After-Tax Diluted EPS
Impact
Discover integration expenses$140 $0.27 
Legal reserve activity$75 $0.15 
The quarter included the following notable item:
(Dollars in millions, except per share data)Pre-Tax
Impact		After-Tax Diluted EPS
Impact
Accelerated philanthropy contributions$100 $0.20 

Capital One Fourth Quarter 2024 Earnings
Page 2
All comparisons below are for the fourth quarter of 2024 compared with the third quarter of 2024 unless otherwise noted.
Fourth Quarter 2024 Income Statement Summary:
•Total net revenue increased 2 percent to $10.2 billion.
•Total non-interest expense increased 15 percent to $6.1 billion:
◦24 percent increase in marketing.
◦12 percent increase in operating expenses.
•Pre-provision earnings(2) decreased 13 percent to $4.1 billion.
•Provision for credit losses increased $160 million to $2.6 billion:
•Net charge-offs of $2.9 billion.
•$245 million loan reserve release.
•Net interest margin of 7.03 percent, a decrease of 8 basis points.
•Efficiency ratio of 59.75 percent.
◦Adjusted efficiency ratio(1) of 57.64 percent.
•Operating efficiency ratio of 46.26 percent.
◦Adjusted operating efficiency ratio(1) of 44.15 percent.
Fourth Quarter 2024 Balance Sheet Summary:
•Common equity Tier 1 capital ratio(3) under Basel III Standardized Approach of 13.5 percent at December 31, 2024.
•Period-end loans held for investment in the quarter increased $7.5 billion, or 2 percent, to $327.8 billion.
◦Credit Card period-end loans increased $5.9 billion, or 4 percent, to $162.5 billion.
•Domestic Card period-end loans increased $6.2 billion, or 4 percent, to $155.6 billion.
◦Consumer Banking period-end loans increased $1.3 billion, or 2 percent, to $78.1 billion.
•Auto period-end loans increased $1.3 billion, or 2 percent, to $76.8 billion.
◦Commercial Banking period-end loans increased $341 million, or less than 1 percent, to $87.2 billion.
•Average loans held for investment in the quarter increased $3.6 billion, or 1 percent, to $321.9 billion.
◦Credit Card average loans increased $3.4 billion, or 2 percent, to $157.3 billion.
•Domestic Card average loans increased $3.3 billion, or 2 percent, to $150.3 billion.
◦Consumer Banking average loans increased $1.0 billion, or 1 percent, to $77.2 billion.
•Auto average loans increased $1.0 billion, or 1 percent, to $76.0 billion.
◦Commercial Banking average loans decreased $777 million, or 1 percent, to $87.3 billion.
•Period-end total deposits increased $9.1 billion, or 3 percent, to $362.7 billion, while average deposits increased $7.2 billion, or 2 percent, to $358.3 billion.
•Interest-bearing deposits rate paid decreased 18 basis points to 3.45 percent.

Capital One Fourth Quarter 2024 Earnings
Page 2
2024 Full Year Income Statement Summary:
◦Total net revenue increased 6 percent to $39.1 billion.
◦Total non-interest expense increased 6 percent to $21.5 billion:
▪14 percent increase in Marketing expense.
▪4 percent increase in operating expenses.
◦Pre-provision earnings(2) increased 7 percent to $17.6 billion.
◦Provision for credit losses increased $1.3 billion to $11.7 billion.
◦Net interest margin of 6.88 percent, an increased of 25 basis points.
◦Efficiency ratio of 54.93 percent.
▪Adjusted efficiency ratio(1) of 54.00 percent.
◦Operating efficiency ratio of 43.27 percent.
▪Adjusted operating efficiency ratio(1) of 42.35 percent.

Capital One Fourth Quarter 2024 Earnings
Page 3
Earnings Conference Call Webcast Information
The company will hold an earnings conference call on January 21, 2025 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 February 4, 2025 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. Forward-looking statements often use words such as “will,” “anticipate,” “target,” “expect,” “think,” “estimate,” “intend,” “plan,” “goal,” “believe,” “forecast,” “outlook” or other words of similar meaning. Any forward-looking statements made by Capital One or on its behalf speak only as of the date they are made or as of the date indicated, and Capital One does not undertake any obligation to update forward-looking statements as a result of new information, future events or otherwise. 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. For additional information on factors that could materially influence forward-looking statements included in this earnings press release, see the risk factors set forth under “Part I—Item 1A. Risk Factors” in the Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Securities and Exchange Commission (the “SEC”).
About Capital One
Capital One Financial Corporation (www.capitalone.com) is a financial holding company which, along with its subsidiaries, had $362.7 billion in deposits and $490.1 billion in total assets as of December 31, 2024. 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 and Cafés located primarily in New York, Louisiana, Texas, Maryland, Virginia 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.
###


(1)    This is a non-GAAP measure. We believe non-GAAP measures help investors and users of our financial information understand the effect of adjusting items on our selected reported results and provide alternate measurements of our performance, both in the current period and across periods. See our Financial Supplement, filed as Exhibit 99.2 to our Current Report on Form 8-K on January 21, 2025 with the SEC, “Table 15: Calculation of Regulatory Capital Measures and Reconciliation of Non-GAAP Measures” for a reconciliation and additional information on non-GAAP measures.
(2)    Pre-provision earnings is a non-GAAP metric calculated based on total net revenue less non-interest expense for the period. Management believes that this financial metric is useful in assessing the ability of a lending institution to generate income in excess of its provision for credit losses. See our Financial Supplement, filed as Exhibit 99.2 to our Current Report on Form 8-K on January 21, 2025 with the SEC, “Table 15: Calculation of Regulatory Capital Measures and Reconciliation of Non-GAAP Measures” for a reconciliation and additional information on non-GAAP measures.
(3)    Regulatory capital metrics as of December 31, 2024 are preliminary and therefore subject to change.

Exhibit 99.2

Capital One Financial Corporation
Financial Supplement(1)(2)
Fourth Quarter 2024
Table of Contents
Capital One Financial Corporation Consolidated ResultsPage
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 Annual Report on Form 10-K for the period ended December 31, 2024 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. See “Table 15: Calculation of Regulatory Capital Measures and Reconciliation of Non-GAAP Measures” for a reconciliation of any non-GAAP financial measures.


CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 1: Financial Summary—Consolidated     
2024 Q4Year Ended December 31,
(Dollars in millions, except per share data and as noted) 20242024202420242023202420232024 vs.
Q4Q3Q2Q1Q4Q3Q4202420232023
Income Statement
Net interest income$8,098 $8,076 $7,546 $7,488 $7,519 — 8 %$31,208 $29,241 7 %
Non-interest income2,092 1,938 1,960 1,914 1,987 8 %5 7,904 7,546 5 
Total net revenue(1)
10,190 10,014 9,506 9,402 9,506 2 7 39,112 36,787 6 
Provision for credit losses2,642 2,482 3,909 2,683 2,857 6 (8)11,716 10,426 12 
Non-interest expense:
Marketing1,375 1,113 1,064 1,010 1,254 24 10 4,562 4,009 14 
Operating expense4,714 4,201 3,882 4,127 4,463 12 6 16,924 16,307 4 
Total non-interest expense6,089 5,314 4,946 5,137 5,717 15 7 21,486 20,316 6 
Income from continuing operations before income taxes1,459 2,218 651 1,582 932 (34)57 5,910 6,045 (2)
Income tax provision366 441 54 302 226 (17)62 1,163 1,158 —
Income from continuing operations, net of tax1,093 1,777 597 1,280 706 (38)55 4,747 4,887 (3)
Income from discontinued operations, net of tax3 — — — — ****3 — **
Net income1,096 1,777 597 1,280 706 (38)55 4,750 4,887 (3)
Dividends and undistributed earnings allocated to participating securities(2)
(17)(28)(9)(23)(10)(39)70 (77)(77)—
Preferred stock dividends(57)(57)(57)(57)(57)— — (228)(228)— 
Net income available to common stockholders$1,022 $1,692 $531 $1,200 $639 (40)60 $4,445 $4,582 (3)
Common Share Statistics
Basic earnings per common share:(2)
Net income from continuing operations$2.66 $4.42 $1.39 $3.14 $1.67 (40)%59 %$11.60 $11.98 (3)%
Income from discontinued operations0.01 — — — — ****0.01 — **
Net income per basic common share$2.67 $4.42 $1.39 $3.14 $1.67 (40)60 $11.61 $11.98 (3)
Diluted earnings per common share:(2)
Net income from continuing operations$2.66 $4.41 $1.38 $3.13 $1.67 (40)%59 %$11.58 $11.95 (3)%
Income from discontinued operations0.01 — — — — ****0.01 — **
Net income per diluted common share$2.67 $4.41 $1.38 $3.13 $1.67 (39)60 $11.59 $11.95 (3)
Weighted-average common shares outstanding (in millions):
Basic382.4 383.0 383.1 382.2 381.9 — — 382.7 382.4 — 
Diluted383.4 383.7 383.9 383.4 382.8 — — 383.6 383.4 — 
Common shares outstanding (period-end, in millions)381.2 381.5 381.9 382.1 380.4 — — 381.2 380.4 — 
Dividends declared and paid per common share$0.60 $0.60 $0.60 $0.60 $0.60 — — $2.40 $2.40 — 
Tangible book value per common share (period-end)(3)
106.97 112.36 99.28 98.67 99.78 (5)%7 %106.97 99.78 7 %
.
1

2024 Q4Year Ended December 31,
(Dollars in millions)20242024202420242023202420232024 vs.
Q4Q3Q2Q1Q4Q3Q4202420232023
Balance Sheet (Period-End)
Loans held for investment$327,775 $320,243 $318,186 $315,154 $320,472 2 %2 %$327,775 $320,472 2 %
Interest-earning assets463,058 458,189 452,547 453,557 449,701 1 3 463,058 449,701 3 
Total assets490,144 486,433 480,018 481,720 478,464 1 2 490,144 478,464 2 
Interest-bearing deposits336,585 327,253 324,437 323,352 320,389 3 5 336,585 320,389 5 
Total deposits362,707 353,631 351,442 350,969 348,413 3 4 362,707 348,413 4 
Borrowings45,551 49,336 47,956 50,361 49,856 (8)(9)45,551 49,856 (9)
Common equity55,938 58,080 53,135 52,955 53,244 (4)5 55,938 53,244 5 
Total stockholders’ equity60,784 62,925 57,981 57,801 58,089 (3)5 60,784 58,089 5 
Balance Sheet (Average Balances)
Loans held for investment$321,871 $318,255 $314,888 $314,614 $315,890 1 %2 %$317,421 $311,541 2 %
Interest-earning assets460,640 454,484 450,908 447,803 446,929 1 3 453,481 441,238 3 
Total assets488,300 481,219 477,285 474,995 472,594 1 3 480,451 467,807 3 
Interest-bearing deposits331,564 324,509 322,581 318,450 316,808 2 5 324,297 313,737 3 
Total deposits358,323 351,125 349,488 345,657 345,328 2 4 351,168 343,554 2 
Borrowings46,293 48,274 48,842 50,474 51,070 (4)(9)48,465 49,332 (2)
Common equity56,918 56,443 53,262 53,152 50,786 1 12 54,953 50,349 9 
Total stockholders’ equity61,764 61,289 58,107 57,998 55,632 1 11 59,799 55,195 8 
    
    
2

CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 2: Selected Metrics—Consolidated
2024 Q4Year Ended December 31,
(Dollars in millions, except as noted) 20242024202420242023202420232024 vs.
Q4Q3Q2Q1Q4Q3Q4202420232023
Performance Metrics
Net interest income growth (period over period)— 7 %1 %— 1 %****7 %8 %**
Non-interest income growth (period over period)8 %(1)2 (4)%2 ****5 6 **
Total net revenue growth (period over period)2 5 1 (1)1 ****6 7 **
Total net revenue margin(4)
8.85 8.81 8.43 8.40 8.51 4 bps34 bps8.62 8.34 28 bps
Net interest margin(5)
7.03 7.11 6.70 6.69 6.73 (8)30 6.88 6.63 25 
Return on average assets0.90 1.48 0.50 1.08 0.60 (58)30 0.99 1.04 (5)
Return on average tangible assets(6)
0.92 1.53 0.52 1.11 0.62 (61)30 1.02 1.08 (6)
Return on average common equity(7)
7.16 11.99 3.99 9.03 5.03 (483)213 8.08 9.10 (102)
Return on average tangible common equity(8)
9.77 16.42 5.59 12.67 7.20 (665)257 11.18 13.04 (186)
Efficiency ratio(9)
59.75 53.07 52.03 54.64 60.14 668 (39)54.93 55.23 (30)
Operating efficiency ratio(10)
46.26 41.95 40.84 43.89 46.95 431 (69)43.27 44.33 (106)
Effective income tax rate for continuing operations 25.1 19.9 8.3 19.1 24.2 520 90 19.7 19.2 50 
Employees (period-end, in thousands)52.6 52.5 52.1 51.3 52.0 —1%52.6 52.0 1%
Credit Quality Metrics
Allowance for credit losses$16,258$16,534$16,649$15,380$15,296(2)%6%$16,258$15,2966%
Allowance coverage ratio4.96 %5.16 %5.23 %4.88 %4.77 %(20)bps19 bps4.96 %4.77 %19 bps
Net charge-offs$2,884$2,604$2,644$2,616$2,53311%14%$10,748$8,41428%
Net charge-off rate(11)
3.59 %3.27 %3.36 %3.33 %3.21 %32 bps38 bps3.39 %2.70 %69 bps
30+ day performing delinquency rate3.69 3.58 3.36 3.40 3.71 11 (2)3.69 3.71 (2)
30+ day delinquency rate3.98 3.89 3.63 3.67 3.99 9 (1)3.98 3.99 (1)
Capital Ratios(12)
Common equity Tier 1 capital
13.5 %13.6 %13.2 %13.1 %12.9 %(10)bps60 bps13.5 %12.9 %60 bps
Tier 1 capital14.8 14.9 14.5 14.4 14.2 (10)60 14.8 14.2 60 
Total capital16.4 16.6 16.3 16.2 16.0 (20)40 16.4 16.0 40 
Tier 1 leverage11.6 11.6 11.3 11.3 11.2 — 40 11.6 11.2 40 
Tangible common equity (“TCE”)(13)
8.6 9.1 8.2 8.1 8.2 (51)39 8.6 8.2 39 
    
 
3

CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 3: Consolidated Statements of Income
2024 Q4Year Ended December 31,
(Dollars in millions, except as noted)20242024202420242023202420232024 vs.
Q4Q3Q2Q1Q4Q3Q4202420232023
Interest income:
Loans, including loans held for sale$10,434 $10,547 $9,993 $9,920 $9,934 (1)%5 %$40,894 $37,410 9 %
Investment securities753 733 700 687 669 3 13 2,873 2,550 13 
Other530 580 587 570 542 (9)(2)2,267 1,978 15 
Total interest income11,717 11,860 11,280 11,177 11,145 (1)5 46,034 41,938 10 
Interest expense:
Deposits2,862 2,945 2,874 2,812 2,745 (3)4 11,493 9,489 21 
Securitized debt obligations205 234 258 261 263 (12)(22)958 959 — 
Senior and subordinated notes540 596 591 606 608 (9)(11)2,333 2,204 6 
Other borrowings12 9 11 10 10 33 20 42 45 (7)
Total interest expense3,619 3,784 3,734 3,689 3,626 (4)— 14,826 12,697 17 
Net interest income8,098 8,076 7,546 7,488 7,519 — 8 31,208 29,241 7 
Provision for credit losses2,642 2,482 3,909 2,683 2,857 6 (8)11,716 10,426 12 
Net interest income after provision for credit losses5,456 5,594 3,637 4,805 4,662 (2)17 19,492 18,815 4 
Non-interest income:
Interchange fees, net1,260 1,228 1,249 1,145 1,207 3 4 4,882 4,793 2 
Service charges and other customer-related fees554 501 459 462 424 11 31 1,976 1,667 19 
Net securities gains (losses)— (35)— — (34)****(35)(34)3 
Other278 244 252 307 390 14 (29)1,081 1,120 (3)
Total non-interest income2,092 1,938 1,960 1,914 1,987 8 5 7,904 7,546 5 
Non-interest expense:
Salaries and associate benefits2,329 2,391 2,200 2,478 2,284 (3)2 9,398 9,302 1 
Occupancy and equipment674 587 551 554 628 15 7 2,366 2,160 10 
Marketing1,375 1,113 1,064 1,010 1,254 24 10 4,562 4,009 14 
Professional services630 402 316 262 359 57 75 1,610 1,268 27 
Communications and data processing398 358 355 351 345 11 15 1,462 1,383 6 
Amortization of intangibles19 20 19 19 22 (5)(14)77 82 (6)
Other664 443 441 463 825 50 (20)2,011 2,112 (5)
Total non-interest expense6,089 5,314 4,946 5,137 5,717 15 7 21,486 20,316 6 
Income from continuing operations before income taxes1,459 2,218 651 1,582 932 (34)57 5,910 6,045 (2)
Income tax provision366 441 54 302 226 (17)62 1,163 1,158 —
Income from continuing operations, net of tax1,093 1,777 597 1,280 706 (38)55 4,747 4,887 (3)
Income from discontinued operations, net of tax3 — — — — ****3 — **
Net income1,096 1,777 597 1,280 706 (38)55 4,750 4,887 (3)
Dividends and undistributed earnings allocated to participating securities(2)
(17)(28)(9)(23)(10)(39)70 (77)(77)— 
Preferred stock dividends(57)(57)(57)(57)(57)— — (228)(228)— 
Net income available to common stockholders$1,022 $1,692 $531 $1,200 $639 (40)60 $4,445 $4,582 (3)
4

2024 Q4Year Ended December 31,
20242024202420242023202420232024 vs.
Q4Q3Q2Q1Q4Q3Q4202420232023
Basic earnings per common share:(2)
Net income from continuing operations$2.66 $4.42 $1.39 $3.14 $1.67 (40)%59 %$11.60 $11.98 (3)%
Income from discontinued operations0.01 — — — — ****0.01 — **
Net income per basic common share$2.67 $4.42 $1.39 $3.14 $1.67 (40)60 $11.61 $11.98 (3)
Diluted earnings per common share:(2)
Net income from continuing operations$2.66 $4.41 $1.38 $3.13 $1.67 (40)%59 %$11.58 11.95(3)%
Income from discontinued operations0.01 — — — — ****0.01 — **
Net income per diluted common share$2.67 $4.41 $1.38 $3.13 $1.67 (39)60 $11.59 $11.95 (3)
Weighted-average common shares outstanding (in millions):
Basic common shares382.4 383.0 383.1 382.2 381.9 — — 382.7 382.4 — 
Diluted common shares383.4 383.7 383.9 383.4 382.8 — — 383.6 383.4 — 
5

CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 4: Consolidated Balance Sheets
2024 Q4
2024202420242024202320242023
(Dollars in millions)Q4Q3Q2Q1Q4Q3Q4
Assets:
Cash and cash equivalents:
Cash and due from banks$3,028 $3,976 $5,298 $4,671 $4,903 (24)%(38)%
Interest-bearing deposits and other short-term investments40,202 45,322 40,116 46,357 38,394 (11)5 
Total cash and cash equivalents43,230 49,298 45,414 51,028 43,297 (12)— 
Restricted cash for securitization investors441 421 2,415 474 458 5 (4)
Securities available for sale83,013 83,500 79,250 78,398 79,117 (1)5 
Loans held for investment:
Unsecuritized loans held for investment298,241 292,061 289,124 285,577 289,229 2 3 
Loans held in consolidated trusts29,534 28,182 29,062 29,577 31,243 5 (5)
Total loans held for investment327,775 320,243 318,186 315,154 320,472 2 2 
Allowance for credit losses(16,258)(16,534)(16,649)(15,380)(15,296)(2)6 
Net loans held for investment311,517 303,709 301,537 299,774 305,176 3 2 
Loans held for sale202 96 808 1,631 854 110 (76)
Premises and equipment, net4,511 4,440 4,396 4,366 4,375 2 3 
Interest receivable2,532 2,577 2,494 2,514 2,478 (2)2 
Goodwill15,059 15,083 15,062 15,062 15,065 — — 
Other assets29,639 27,309 28,642 28,473 27,644 9 7 
Total assets$490,144 $486,433 $480,018 $481,720 $478,464 1 2 
6

2024 Q4
2024202420242024202320242023
(Dollars in millions) Q4Q3Q2Q1Q4Q3Q4
Liabilities:
Interest payable$666 $705 $668 $762 $649 (6)%3 %
Deposits:
Non-interest-bearing deposits26,122 26,378 27,005 27,617 28,024 (1)(7)
Interest-bearing deposits336,585 327,253 324,437 323,352 320,389 3 5 
Total deposits362,707 353,631 351,442 350,969 348,413 3 4 
Securitized debt obligations14,264 15,881 17,291 17,661 18,043 (10)(21)
Other debt:
Federal funds purchased and securities loaned or sold under agreements to repurchase562 520 715 568 538 8 4 
Senior and subordinated notes30,696 32,911 29,925 32,108 31,248 (7)(2)
Other borrowings29 24 25 24 27 21 7 
Total other debt31,287 33,455 30,665 32,700 31,813 (6)(2)
Other liabilities20,436 19,836 21,971 21,827 21,457 3 (5)
Total liabilities429,360 423,508 422,037 423,919 420,375 1 2 
Stockholders’ equity:
Preferred stock0 0 0 0 0 — — 
Common stock7 7 7 7 7 — — 
Additional paid-in capital, net36,428 36,216 36,012 35,808 35,541 1 2 
Retained earnings64,505 63,698 62,211 61,905 60,945 1 6 
Accumulated other comprehensive loss(9,286)(6,287)(9,701)(9,534)(8,268)48 12 
Treasury stock, at cost(30,870)(30,709)(30,548)(30,385)(30,136)1 2 
Total stockholders’ equity60,784 62,925 57,981 57,801 58,089 (3)5 
Total liabilities and stockholders’ equity$490,144 $486,433 $480,018 $481,720 $478,464 1 2 

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 $706 million in Q4 2024, $624 million in Q3 2024, $649 million in Q2 2024, $630 million in Q1 2024 and $566 million in Q4 2023 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)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.
(4)Total net revenue margin is calculated based on annualized total net revenue for the period divided by average interest-earning assets for the period.
(5)Net interest margin is calculated based on annualized net interest income for the period divided by average interest-earning assets for the period.
(6)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.
(7)Return on average common equity is calculated based on annualized net income (loss) available to common stockholders less 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.
(8)Return on average tangible common equity is a non-GAAP measure calculated based annualized on net income (loss) available to common stockholders less income (loss) from discontinued operations, net of tax, for the period, divided by average TCE. See “Table 15: Calculation of Regulatory Capital Measures and Reconciliation of Non-GAAP Measures” for additional information on non-GAAP measures.
(9)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.
(10)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.
(11)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.
(12)Capital ratios as of the end of Q4 2024 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.
(13)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
2024 Q42024 Q32023 Q4
(Dollars in millions, except as noted)Average BalanceInterest Income/ Expense
Yield/Rate(1)
Average BalanceInterest Income/ Expense
Yield/Rate(1)
Average BalanceInterest Income/ Expense
Yield/Rate(1)
Interest-earning assets:
Loans, including loans held for sale$322,231 $10,434 12.95 %$318,715 $10,547 13.24 %$316,670 $9,934 12.55 %
Investment securities92,248 753 3.26 90,644 733 3.24 88,650 669 3.02 
Cash equivalents and other46,161 530 4.59 45,125 580 5.14 41,609 542 5.21 
Total interest-earning assets$460,640 $11,717 10.17 $454,484 $11,860 10.44 $446,929 $11,145 9.97 
Interest-bearing liabilities:
Interest-bearing deposits$331,564 $2,862 3.45 $324,509 $2,945 3.63 $316,808 $2,745 3.47 
Securitized debt obligations14,931 205 5.47 15,833 234 5.93 18,022 263 5.84 
Senior and subordinated notes30,888 540 7.00 32,041 596 7.43 32,586 608 7.46 
Other borrowings and liabilities(2)
2,434 12 1.85 2,389 9 1.50 2,349 10 1.74 
Total interest-bearing liabilities$379,817 $3,619 3.81 $374,772 $3,784 4.04 $369,765 $3,626 3.92 
Net interest income/spread$8,098 6.36 $8,076 6.40 $7,519 6.05 
Impact of non-interest-bearing funding0.67 0.71 0.68 
Net interest margin(3)
7.03 %7.11 %6.73 %
                                                                                                                                                                                                                            
Year Ended December 31,
20242023
(Dollars in millions, except as noted)Average BalanceInterest Income/ Expense
Yield/Rate(1)
Average BalanceInterest Income/ Expense
Yield/Rate(1)
Interest-earning assets:
Loans, including loans held for sale$318,096 $40,894 12.86 %$312,173 $37,410 11.98 %
Investment securities90,250 2,873 3.18 89,105 2,550 2.86 
Cash equivalents and other45,135 2,267 5.02 39,960 1,978 4.95 
Total interest-earning assets$453,481 $46,034 10.15 $441,238 $41,938 9.50 
Interest-bearing liabilities:
Interest-bearing deposits$324,297 $11,493 3.54 $313,737 $9,489 3.02 
Securitized debt obligations16,507 958 5.80 17,675 959 5.42 
Senior and subordinated notes31,529 2,333 7.40 31,109 2,204 7.08 
Other borrowings and liabilities(2)
2,424 42 1.71 2,394 45 1.89 
Total interest-bearing liabilities$374,757 $14,826 3.96 $364,915 $12,697 3.48 
Net interest income/spread$31,208 6.20 $29,241 6.03 
Impact of non-interest-bearing funding0.68 0.60 
Net interest margin6.88 %6.63 %

9

CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 7: Loan Information and Performance Statistics
2024 Q4Year Ended December 31,
2024202420242024202320242023202420232024 vs. 2023
(Dollars in millions, except as noted) Q4Q3Q2Q1Q4Q3Q4
Loans Held for Investment (Period-End)
Credit card:
   Domestic credit card$155,618 $149,400 $147,065 $143,861 $147,666 4 %5 %$155,618 $147,666 5 %
   International card businesses6,890 7,251 6,830 6,733 6,881 (5)— 6,890 6,881 — 
Total credit card162,508 156,651 153,895 150,594 154,547 4 5 162,508 154,547 5 
Consumer banking:
   Auto76,829 75,505 74,385 73,801 74,075 2 4 76,829 74,075 4 
   Retail banking1,263 1,253 1,278 1,298 1,362 1 (7)1,263 1,362 (7)
Total consumer banking78,092 76,758 75,663 75,099 75,437 2 4 78,092 75,437 4 
Commercial banking:
   Commercial and multifamily real estate31,903 32,199 32,832 34,272 34,446 (1)(7)31,903 34,446 (7)
   Commercial and industrial55,272 54,635 55,796 55,189 56,042 1 (1)55,272 56,042 (1)
Total commercial banking87,175 86,834 88,628 89,461 90,488 — (4)87,175 90,488 (4)
Total loans held for investment$327,775 $320,243 $318,186 $315,154 $320,472 2 2 $327,775 $320,472 2 
Loans Held for Investment (Average)
Credit card:
   Domestic credit card$150,290 $147,021 $143,744 $142,887 $142,112 2 %6 %$146,000 $135,213 8 %
   International card businesses7,036 6,951 6,723 6,758 6,515 1 8 6,868 6,359 8 
Total credit card157,326 153,972 150,467 149,645 148,627 2 6 152,868 141,572 8 
Consumer banking:
   Auto75,968 74,920 74,098 73,768 74,861 1 1 74,692 76,067 (2)
   Retail banking1,253 1,262 1,288 1,324 1,377 (1)(9)1,281 1,446 (11)
Total consumer banking77,221 76,182 75,386 75,092 76,238 1 1 75,973 77,513 (2)
Commercial banking:
   Commercial and multifamily real estate32,058 32,416 33,801 34,310 35,414 (1)(9)33,141 36,448 (9)
   Commercial and industrial55,266 55,685 55,234 55,567 55,611 (1)(1)55,439 56,008 (1)
Total commercial banking87,324 88,101 89,035 89,877 91,025 (1)(4)88,580 92,456 (4)
Total average loans held for investment$321,871 $318,255 $314,888 $314,614 $315,890 1 2 $317,421 $311,541 2 
10

2024 Q4Year Ended December 31,
2024202420242024202320242023202420232024 vs. 2023
Q4Q3Q2Q1Q4Q3Q4
Net Charge-Off (Recovery) Rates
Credit card:
   Domestic credit card(4)(5)
6.06 %5.61 %6.05 %5.94 %5.35 %45 bps71 bps5.91 %4.56 %135 bps
   International card businesses5.17 5.23 5.03 5.16 4.94 (6)23 5.15 4.84 31 
Total credit card6.02 5.60 6.00 5.90 5.33 42 69 5.88 4.57 131 
Consumer banking:
   Auto2.32 2.05 1.81 1.99 2.19 27 13 2.05 1.72 33 
   Retail banking5.63 5.43 5.38 4.04 5.68 20 (5)5.11 3.89 122 
Total consumer banking2.38 2.11 1.87 2.03 2.25 27 13 2.10 1.76 34 
Commercial banking:
   Commercial and multifamily real estate0.50 0.26 0.11 0.20 0.96 24 (46)0.26 1.34 (108)
   Commercial and industrial0.13 0.20 0.17 0.08 0.26 (7)(13)0.15 0.16 (1)
Total commercial banking0.26 0.22 0.15 0.13 0.53 4 (27)0.19 0.62 (43)
Total net charge-offs3.59 3.27 3.36 3.33 3.21 32 38 3.39 2.70 69 
30+ Day Performing Delinquency Rates
Credit card:
   Domestic credit card4.53 %4.53 %4.14 %4.48 %4.61 %— (8)bps4.53 %4.61 %(8)bps
   International card businesses4.52 4.53 4.63 4.83 4.67 (1)bps(15)4.52 4.67 (15)
Total credit card4.53 4.53 4.16 4.50 4.61 — (8)4.53 4.61 (8)
Consumer banking:
   Auto5.95 5.61 5.67 5.28 6.34 34 (39)5.95 6.34 (39)
   Retail banking1.12 0.95 1.57 0.95 1.19 17 (7)1.12 1.19 (7)
Total consumer banking5.87 5.53 5.60 5.21 6.25 34 (38)5.87 6.25 (38)
Nonperforming Loans and Nonperforming Assets Rates(6)(7)
Credit card:
   International card businesses0.15 %0.15 %0.15 %0.13 %0.13 %— 2 bps0.15 %0.13 %2 bps
Total credit card0.01 0.01 0.01 0.01 0.01 — — 0.01 0.01 — 
Consumer banking:
   Auto0.98 0.91 0.88 0.79 0.96 7 bps2 0.98 0.96 2 
   Retail banking1.94 2.19 2.81 3.21 3.36 (25)(142)1.94 3.36 (142)
Total consumer banking0.99 0.93 0.92 0.83 1.00 6 (1)0.99 1.00 (1)
Commercial banking:
   Commercial and multifamily real estate1.60 1.96 1.28 1.58 1.23 (36)37 1.60 1.23 37 
   Commercial and industrial1.27 1.32 1.56 1.10 0.60 (5)67 1.27 0.60 67 
Total commercial banking1.39 1.55 1.46 1.28 0.84 (16)55 1.39 0.84 55 
Total nonperforming loans0.61 0.65 0.63 0.57 0.48 (4)13 0.61 0.48 13 
Total nonperforming assets0.63 0.67 0.64 0.58 0.50 (4)13 0.63 0.50 13 
11

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

Three Months Ended December 31, 2024
Credit CardConsumer Banking
(Dollars in millions) Domestic CardInternational Card BusinessesTotal Credit CardAutoRetail BankingTotal Consumer BankingCommercial BankingTotal
Allowance for credit losses:
Balance as of September 30, 2024$12,494 $495 $12,989 $1,988 $27 $2,015 $1,530 $16,534 
Charge-offs(2,737)(128)(2,865)(733)(22)(755)(68)(3,688)
Recoveries459 38 497 291 5 296 11 804 
Net charge-offs(2,278)(90)(2,368)(442)(17)(459)(57)(2,884)
Provision (benefit) for credit losses2,278 106 2,384 313 15 328 (73)2,639 
Allowance build (release) for credit losses— 16 16 (129)(2)(131)(130)(245)
Other changes(8)
— (31)(31)————(31)
Balance as of December 31, 202412,494 480 12,974 1,859 25 1,884 1,400 16,258 
Reserve for unfunded lending commitments:
Balance as of September 30, 2024————— —142 142 
Provision (benefit) for losses on unfunded lending commitments————— —1 1 
Balance as of December 31, 2024————— —143 143 
Combined allowance and reserve as of December 31, 2024$12,494 $480 $12,974 $1,859 $25 $1,884 $1,543 $16,401 
Year Ended December 31, 2024
Credit CardConsumer Banking
(Dollars in millions) Domestic CardInternational Card BusinessesTotal Credit CardAutoRetail BankingTotal Consumer BankingCommercial BankingTotal
Allowance for credit losses:
Balance as of December 31, 2023$11,261 $448 $11,709 $2,002 $40 $2,042 $1,545 $15,296 
Charge-offs(10,246)(511)(10,757)(2,674)(84)(2,758)(234)(13,749)
Recoveries1,612 158 1,770 1,146 19 1,165 66 3,001 
Net charge-offs(8,634)(353)(8,987)(1,528)(65)(1,593)(168)(10,748)
Provision for credit losses9,867 405 10,272 1,385 50 1,435 23 11,730 
Allowance build (release) for credit losses(9)
1,233 52 1,285 (143)(15)(158)(145)982 
Other changes(8)
— (20)(20)— — — — (20)
Balance as of December 31, 202412,494 480 12,974 1,859 25 1,884 1,400 16,258 
Reserve for unfunded lending commitments:
Balance as of December 31, 2023————— — 158 158 
Provision (benefit) for losses on unfunded lending commitments————— — (15)(15)
Balance as of December 31, 2024————— — 143 143 
Combined allowance and reserve as of December 31, 2024$12,494 $480 $12,974 $1,859 $25 $1,884 $1,543 $16,401 
12

CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 9: Financial Summary—Business Segment Results

Three Months Ended December 31, 2024Year Ended December 31, 2024
(Dollars in millions)Credit CardConsumer Banking
Commercial Banking(10)
Other(10)
TotalCredit CardConsumer Banking
Commercial Banking(10)
Other(10)
Total
Net interest income (loss)$5,779 $1,959 $587 $(227)$8,098 $22,088 $8,023 $2,391 $(1,294)$31,208 
Non-interest income (loss)1,585 182 366 (41)2,092 6,076 695 1,210 (77)7,904 
Total net revenue (loss)7,364 2,141 953 (268)10,190 28,164 8,718 3,601 (1,371)39,112 
Provision (benefit) for credit losses2,384 328 (72)2 2,642 10,272 1,435 8 1 11,716 
Non-interest expense3,846 1,545 518 180 6,089 13,576 5,372 2,011 527 21,486 
Income (loss) from continuing operations before income taxes1,134 268 507 (450)1,459 4,316 1,911 1,582 (1,899)5,910 
Income tax provision (benefit)268 63 119 (84)366 1,024 451 373 (685)1,163 
Income (loss) from continuing operations, net of tax$866 $205 $388 $(366)$1,093 $3,292 $1,460 $1,209 $(1,214)$4,747 
Three Months Ended September 30, 2024
(Dollars in millions) Credit CardConsumer Banking
Commercial Banking(10)
Other(10)
Total
Net interest income (loss)$5,743 $2,028 $596 $(291)$8,076 
Non-interest income (loss)1,509 182 292 (45)1,938 
Total net revenue (loss)7,252 2,210 888 (336)10,014 
Provision (benefit) for credit losses2,084 351 48 (1)2,482 
Non-interest expense3,367 1,331 495 121 5,314 
Income (loss) from continuing operations before income taxes1,801 528 345 (456)2,218 
Income tax provision (benefit)427 125 82 (193)441 
Income (loss) from continuing operations, net of tax$1,374 $403 $263 $(263)$1,777 
Three Months Ended December 31, 2023Year Ended December 31, 2023
(Dollars in millions) Credit CardConsumer Banking
Commercial Banking(10)
Other(10)
TotalCredit CardConsumer Banking
Commercial Banking(10)
Other(10)
Total
Net interest income (loss)$5,231 $1,951 $617 $(280)$7,519 $19,729 $8,713 $2,518 $(1,719)$29,241 
Non-interest income1,565 163 245 14 1,987 5,940 589 1,002 15 7,546 
Total net revenue (loss)6,796 2,114 862 (266)9,506 25,669 9,302 3,520 (1,704)36,787 
Provision (benefit) for credit losses2,353 422 84 (2)2,857 8,651 1,169 605 1 10,426 
Non-interest expense3,417 1,402 487 411 5,717 12,490 5,178 2,011 637 20,316 
Income (loss) from continuing operations before income taxes1,026 290 291 (675)932 4,528 2,955 904 (2,342)6,045 
Income tax provision (benefit)241 68 68 (151)226 1,071 697 213 (823)1,158 
Income (loss) from continuing operations, net of tax$785 $222 $223 $(524)$706 $3,457 $2,258 $691 $(1,519)$4,887 

13

CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 10: Financial & Statistical Summary—Credit Card Business
2024 Q4 vs.Year Ended December 31,
20242024202420242023202420232024 vs.
(Dollars in millions, except as noted) Q4Q3Q2Q1Q4Q3Q4202420232023
Credit Card
Earnings:
Net interest income$5,779 $5,743 $5,294 $5,272 $5,231 1%10%$22,088 $19,729 12%
Non-interest income1,585 1,509 1,506 1,476 1,565 5 1 6,076 5,940 2 
Total net revenue7,364 7,252 6,800 6,748 6,796 2 8 28,164 25,669 10 
Provision for credit losses2,384 2,084 3,545 2,259 2,353 14 110,272 8,651 19
Non-interest expense3,846 3,367 3,134 3,229 3,417 14 13 13,576 12,490 9 
Income from continuing operations before income taxes1,134 1,801 121 1,260 1,026 (37)11 4,316 4,528 (5)
Income tax provision268 427 30 299 241 (37)11 1,024 1,071 (4)
Income from continuing operations, net of tax$866 $1,374 $91 $961 $785 (37)10 $3,292 $3,457 (5)
Selected performance metrics:
Period-end loans held for investment$162,508$156,651$153,895$150,594$154,5474 5 $162,508$154,5475 
Average loans held for investment157,326153,972150,467149,645148,6272 6 152,868141,5728 
Average yield on loans outstanding(1)
19.05 %19.66 %18.79 %18.84 %18.96 %(61)bps9 bps19.09 %18.54 %55 bps
Total net revenue margin(11)
18.72 18.82 18.03 17.99 18.24 (10)48 18.39 18.12 27 
Net charge-off rate6.02 5.60 6.00 5.90 5.33 42 69 5.88 4.57 131 
30+ day performing delinquency rate4.53 4.53 4.16 4.50 4.61 — (8)4.53 4.61 (8)
30+ day delinquency rate4.54 4.54 4.17 4.50 4.62 — (8)4.54 4.62 (8)
Nonperforming loan rate(6)
0.01 0.01 0.01 0.01 0.01 — — 0.01 0.01 — 
Purchase volume(12)
$172,919$166,203$165,143$150,171$162,0554%7%$654,436$620,2906%
14

2024 Q4 vs.Year Ended December 31,
20242024202420242023202420232024 vs.
(Dollars in millions, except as noted)Q4Q3Q2Q1Q4Q3Q4202420232023
Domestic Card
Earnings:
Net interest income$5,474 $5,434 $5,001 $4,972 $4,940 1%11%$20,881 $18,610 12%
Non-interest income1,522 1,438 1,440 1,411 1,498 6 2 5,811 5,672 2 
Total net revenue(13)
6,996 6,872 6,441 6,383 6,438 2 9 26,692 24,282 10 
Provision for credit losses2,278 1,997 3,435 2,157 2,238 14 29,867 8,268 19
Non-interest expense3,607 3,149 2,946 3,025 3,186 15 13 12,727 11,648 9 
Income from continuing operations before income taxes1,111 1,726 60 1,201 1,014 (36)10 4,098 4,366 (6)
Income tax provision262 407 15 283 239 (36)10 967 1,030 (6)
Income from continuing operations, net of tax$849 $1,319 $45 $918 $775 (36)10 $3,131 $3,336 (6)
Selected performance metrics:
Period-end loans held for investment$155,618$149,400$147,065$143,861$147,6664 5 $155,618$147,6665 
Average loans held for investment150,290147,021143,744142,887142,1122 6 146,000135,2138 
Average yield on loans outstanding(1)
19.00 %19.62 %18.73 %18.76 %18.88 %(62)bps12 bps19.03 %18.46 %57 bps
Total net revenue margin(11)(13)
18.62 18.67 17.87 17.82 18.07 (5)55 18.25 17.94 31 
Net charge-off rate(4)(5)
6.06 5.61 6.05 5.94 5.35 45 71 5.91 4.56 135 
30+ day performing delinquency rate4.53 4.53 4.14 4.48 4.61 — (8)4.53 4.61 (8)
Purchase volume(12)
$168,994$162,281$161,370$146,696$158,2904%7%$639,341$605,6646%
Refreshed FICO scores:(14)
Greater than 66069 %69 %69 %68 %68 %— 1 69 %68 %1 
660 or below31 31 31 32 32 — (1)31 32 (1)
Total100 %100 %100 %100 %100 %100 %100 %
    

15

CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 11: Financial & Statistical Summary—Consumer Banking Business
2024 Q4 vs.Year Ended December 31,
20242024202420242023202420232024 vs.
(Dollars in millions, except as noted)Q4Q3Q2Q1Q4Q3Q4202420232023
Consumer Banking
Earnings:
Net interest income$1,959 $2,028 $2,025 $2,011 $1,951 (3)%— $8,023 $8,713 (8)%
Non-interest income182 182 172 159 163 — 12%695 589 18 
Total net revenue2,141 2,210 2,197 2,170 2,114 (3)1 8,718 9,302 (6)
Provision for credit losses328 351 330 426 422 (7)(22)1,435 1,169 23
Non-interest expense1,545 1,331 1,250 1,246 1,402 16 10 5,372 5,178 4 
Income from continuing operations before income taxes268 528 617 498 290 (49)(8)1,911 2,955 (35)
Income tax provision63 125 146 117 68 (50)(7)451 697 (35)
Income from continuing operations, net of tax$205 $403 $471 $381 $222 (49)(8)$1,460 $2,258 (35)
Selected performance metrics:
Period-end loans held for investment$78,092$76,758$75,663$75,099$75,4372 4 $78,092$75,4374 
Average loans held for investment77,22176,18275,38675,09276,2381 1 75,97377,513(2)
Average yield on loans held for investment(1)
9.04 %8.88 %8.54 %8.33 %8.17 %16 bps87 bps8.70 %7.79 %91 bps
Auto loan originations$9,399$9,158$8,463$7,522$6,1573%53%$34,542$26,98028%
Period-end deposits318,329309,569305,422300,806296,1713 7 318,329296,1717 
Average deposits313,992306,121300,794294,448291,4863 8 303,873285,8806 
Average deposits interest rate3.21 %3.33 %3.22 %3.15 %3.06 %(12)bps15 bps3.23 %2.59 %64 bps
Net charge-off rate2.38 2.11 1.87 2.03 2.25 27 13 2.10 1.76 34 
30+ day performing delinquency rate5.87 5.53 5.60 5.21 6.25 34 (38)5.87 6.25 (38)
30+ day delinquency rate6.73 6.31 6.35 5.86 7.08 42 (35)6.73 7.08 (35)
Nonperforming loan rate(6)
0.99 0.93 0.92 0.83 1.00 6 (1)0.99 1.00 (1)
Nonperforming asset rate(7)
1.08 1.01 0.99 0.91 1.09 7 (1)1.08 1.09 (1)
Auto—At origination FICO scores:(15)
Greater than 66054 %53 %53 %53 %53 %1%1%54 %53 %1%
621 - 66019 20 20 20 20 (1)(1)19 20 (1)
620 or below27 27 27 27 27 — — 27 27 — 
Total100 %100 %100 %100 %100 %100 %100 %
16

CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 12: Financial & Statistical Summary—Commercial Banking Business
2024 Q4 vs.Year Ended December 31,
20242024202420242023202420232024 vs.
(Dollars in millions, except as noted) Q4Q3Q2Q1Q4Q3Q4202420232023
Commercial Banking
Earnings:
Net interest income$587 $596 $609 $599 $617 (2)%(5)%$2,391$2,518(5)%
Non-interest income366 292 271 281 245 25 49 1,2101,00221 
Total net revenue(10)
953 888 880 880 862 7 11 3,6013,5202 
Provision (benefit) for credit losses(72)48 34 (2)84 ****8605(99)
Non-interest expense518 495 483 515 487 5 6 2,0112,011— 
Income from continuing operations before income taxes507 345 363 367 291 47 74 1,58290475 
Income tax provision119 82 85 87 68 45 75 37321375 
Income from continuing operations, net of tax$388 $263 $278 $280 $223 48 74 $1,209$69175 
Selected performance metrics:
Period-end loans held for investment$87,175$86,834$88,628$89,461$90,488— (4)$87,175$90,488(4)
Average loans held for investment 87,32488,10189,03589,87791,025(1)(4)88,58092,456(4)
Average yield on loans held for investment(1)(10)
6.72 %7.25 %7.23 %7.14 %7.24 %(53)bps(52)bps7.09 %6.86 %23 bps
Period-end deposits$31,691$30,598$29,210$31,082$32,7124%(3)%$31,691$32,712(3)%
Average deposits31,54530,36530,81031,84434,5254 (9)31,14037,411(17)
Average deposits interest rate2.28 %2.55 %2.55 %2.65 %2.79 %(27)bps(51)bps2.51 %2.68 %(17)bps
Net charge-off rate0.26 0.22 0.15 0.13 0.53 4 (27)0.19 0.62 (43)
Nonperforming loan rate(6)
1.39 1.55 1.46 1.28 0.84 (16)55 1.39 0.84 55 
Nonperforming asset rate(7)
1.39 1.55 1.46 1.28 0.84 (16)55 1.39 0.84 55 
Risk category:(16)
Noncriticized$80,431$78,835$79,695$80,804$81,7582%(2)%$80,431$81,758(2)%
Criticized performing5,5346,6517,6397,5097,969(17)(31)5,5347,969(31)
Criticized nonperforming1,2101,3481,2941,148761(10)59 1,21076159 
Total commercial banking loans held for investment$87,175$86,834$88,628$89,461$90,488— (4)$87,175$90,488(4)
Risk category as a percentage of period-end loans held for investment:(16)
Noncriticized92.26 %90.79 %89.92 %90.33 %90.35 %147 bps191 bps92.26 %90.35 %191 bps
Criticized performing6.35 7.66 8.62 8.39 8.81 (131)(246)6.35 8.81 (246)
Criticized nonperforming1.39 1.55 1.46 1.28 0.84 (16)55 1.39 0.84 55 
Total commercial banking loans100.00 %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
2024 Q4 vs.Year Ended December 31,
20242024202420242023202420232024 vs.
(Dollars in millions)Q4Q3Q2Q1Q4Q3Q4202420232023
Other
Earnings:
Net interest loss$(227)$(291)$(382)$(394)$(280)(22)%(19)%$(1,294)$(1,719)(25)%
Non-interest income (loss)(41)(45)11(2)14(9)**(77)15**
Total net loss(10)
(268)(336)(371)(396)(266)(20)1(1,371)(1,704)(20)
Provision (benefit) for credit losses2(1)——(2)****11—
Non-interest expense(17)(18)
1801217914741149(56)527637(17)
Loss from continuing operations before income taxes(450)(456)(450)(543)(675)(1)(33)(1,899)(2,342)(19)
Income tax benefit(84)(193)(207)(201)(151)(56)(44)(685)(823)(17)
Loss from continuing operations, net of tax$(366)$(263)$(243)$(342)$(524)39(30)$(1,214)$(1,519)(20)
Selected performance metrics:
Period-end deposits$12,687 $13,464 $16,810 $19,081 $19,530 (6)(35)$12,687 $19,530 (35)
Average deposits12,786 14,639 17,884 19,365 19,317 (13)(34)16,155 20,263 (20)
Total
Earnings:
Net interest income$8,098 $8,076 $7,546 $7,488 $7,519 —8%$31,208 $29,241 7%
Non-interest income2,092 1,938 1,960 1,914 1,987 8%57,904 7,546 5
Total net revenue10,190 10,014 9,506 9,402 9,506 2739,112 36,787 6
Provision for credit losses2,642 2,482 3,909 2,683 2,857 6(8)11,716 10,426 12
Non-interest expense6,089 5,314 4,946 5,137 5,717 15721,486 20,316 6
Income from continuing operations before income taxes1,459 2,218 651 1,582 932 (34)575,910 6,045 (2)
Income tax provision366 441 54 302 226 (17)621,163 1,158 —
Income from continuing operations, net of tax$1,093 $1,777 $597 $1,280 $706 (38)55$4,747 $4,887 (3)
Selected performance metrics:
Period-end loans held for investment$327,775 $320,243 $318,186 $315,154 $320,472 22$327,775 $320,472 2
Average loans held for investment321,871 318,255 314,888 314,614 315,890 12317,421 311,541 2
Period-end deposits362,707 353,631 351,442 350,969 348,413 34362,707 348,413 4
Average deposits358,323 351,125 349,488 345,657 345,328 24351,168 343,554 2
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)Includes amounts related to entities that provide capital to low-income and rural communities of $2.0 billion in Q4 2024, $2.0 billion in Q3 2024 and $1.9 billion in Q4 2023 and $2.0 billion and $1.8 billion in the twelve months ended 2024 and 2023, respectively. Related interest expense was $8 million in Q4 2024, $7 million in Q3 2024 and $7 million in Q4 2023, respectively, and $31 million and $32 million for the twelve months ended 2024 and 2023, respectively.
(3)The termination of our Walmart program agreement, effective May 21, 2024 (“Walmart Program Termination”) increased net interest margin by 21 basis points in Q4 2024 and 22 basis points in Q3 2024, respectively. Excluding this impact, the net interest margin would have been 6.82% in Q4 2024 and 6.89% in Q3 2024.
(4)The Walmart Program Termination increased the Domestic Card net charge-off rate by 40 basis points, 38 basis points and 19 basis points for Q4 2024, Q3 2024 and Q2 2024, respectively. Excluding this impact, the Domestic Card net charge-off rate would have been 5.66%, 5.23% and 5.86% for Q4 2024, Q3 2024 and Q2 2024, respectively.
(5)In December 2023, we recognized $18 million of incremental net charge-offs on certain loans in hardship programs from the one-time impact of operational delays, which increased the Q4 2023 net charge-off rate by approximately 5 basis points. Excluding this impact, the Q4 2023 net charge-off rate would have been 5.30%.
(6)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.
(7)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.
(8)Primarily represents foreign currency translation adjustments.
(9)The Walmart Program Termination resulted in an allowance for credit losses build in Domestic Card of $826 million in Q2 2024.
(10)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.
(11)Total net revenue margin is calculated based on annualized total net revenue for the period divided by average interest-earning assets for the period.
(12)Purchase volume consists of purchase transactions, net of returns, for the period, and excludes cash advance and balance transfer transactions.
(13)The Walmart Program Termination increased Domestic Card net revenue margin by 55 basis points in Q4 2024, 51 basis points in Q3 2024 and 10 basis points in Q2 2024. Excluding this impact, the Domestic Card net revenue margin would have been 18.07% in Q4 2024, 18.16% in Q3 2024 and 17.77% in Q2 2024.
(14)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.
(15)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.
(16)Criticized exposures correspond to the “Special Mention,” “Substandard” and “Doubtful” asset categories defined by bank regulatory authorities.
(17)Includes the impact of ($9 million), $8 million, $42 million and $289 million FDIC special assessment in Q3 2024, Q2 2024, Q1 2024 and Q4 2023, respectively.
(18)Includes the impact of $140 million, $63 million and $31 million in Discover integration expenses in Q4 2024, Q3 2024 and Q2 2024, respectively, as well as any charges incurred as a result of restructuring activities for the periods presented.
**    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) December 31,
2024		September 30,
2024		June 30,
2024		March 31,
2024		December 31,
2023
Regulatory Capital Metrics
Common equity excluding AOCI$65,823$64,966$63,435$63,088$62,710
Adjustments:
AOCI, net of tax(2)
158131427
Goodwill, net of related deferred tax liabilities(14,786)(14,816)(14,800)(14,804)(14,811)
Other Intangible and deferred tax assets, net of deferred tax liabilities(231)(252)(271)(291)(311)
Common equity Tier 1 capital$50,807$49,956$48,377$48,007$47,615
Tier 1 capital$55,652$54,801$53,222$52,852$52,460
Total capital(3)
61,80561,15159,87559,48459,124
Risk-weighted assets377,147368,199366,959366,161369,206
Adjusted average assets(4)
480,794473,146470,915468,030467,553
Capital Ratios
Common equity Tier 1 capital(5)
13.5%13.6%13.2%13.1%12.9%
Tier 1 capital(6)
14.814.914.514.414.2
Total capital(7)
16.416.616.316.216.0
Tier 1 leverage(4)
11.611.611.311.311.2
TCE(8)
8.69.18.28.18.2


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, however, they may not be comparable to similarly-titled measures reported by other companies. 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.
20242024202420242023Year Ended December 31,
(Dollars in millions, except per share data and as noted)Q4Q3Q2Q1Q420242023
Adjusted diluted earnings per share (“EPS”):
Net income available to common stockholders (GAAP)$1,022$1,692$531$1,200$639$4,445$4,582
Allowance build for Walmart program agreement loss sharing termination——826——826—
Walmart program agreement termination contra revenue impact——27——27—
Discover integration expenses1406331——234—
Legal reserve activity75————75—
FDIC special assessment—(9)84228941289
Adjusted net income available to common stockholders before income tax impacts (non-GAAP)1,2371,7461,4231,2429285,6484,871
Income tax impacts(52)(13)(218)(10)(70)(293)(70)
Adjusted net income available to common stockholders (non-GAAP)$1,185$1,733$1,205$1,232$858$5,355$4,801
Diluted weighted-average common shares outstanding (in millions) (GAAP)383.4383.7383.9383.4382.8383.6383.4
Diluted EPS (GAAP)$2.67$4.41$1.38$3.13$1.67$11.59$11.95
Impact of adjustments noted above0.420.101.760.080.572.370.57
Adjusted diluted EPS (non-GAAP)$3.09$4.51$3.14$3.21$2.24$13.96$12.52
Adjusted efficiency ratio:
Non-interest expense (GAAP)$6,089$5,314$4,946$5,137$5,717$21,486$20,316
Discover integration expenses(140)(63)(31)——(234)—
Legal reserve activity(75)————(75)—
FDIC special assessment—9(8)(42)(289)(41)(289)
Adjusted non-interest expense (non-GAAP)$5,874$5,260$4,907$5,095$5,428$21,136$20,027
Total net revenue (GAAP)$10,190$10,014$9,506$9,402$9,506$39,112$36,787
Walmart program agreement termination contra revenue impact——27——27—
Adjusted net revenue (non-GAAP)$10,190$10,014$9,533$9,402$9,506$39,139$36,787
Efficiency ratio (GAAP)59.75%53.07%52.03%54.64%60.14%54.93%55.23%
Impact of adjustments noted above(211)bps(54)bps(56)bps(45)bps(304)bps(93)bps(79)bps
Adjusted efficiency ratio (non-GAAP)57.64%52.53%51.47%54.19%57.10%54.00%54.44%
21

20242024202420242023Year Ended December 31,
(Dollars in millions, except per share data and as noted)Q4Q3Q2Q1Q420242023
Adjusted operating efficiency ratio:
Operating expense (GAAP)$4,714$4,201$3,882$4,127$4,463$16,924$16,307
Discover integration expenses(140)(63)(31)——(234)—
Legal reserve activity(75)————(75)—
FDIC special assessment—9(8)(42)(289)(41)(289)
Adjusted operating expense (non-GAAP)$4,499$4,147$3,843$4,085$4,174$16,574$16,018
Total net revenue (GAAP)$10,190$10,014$9,506$9,402$9,506$39,112$36,787
Walmart program agreement termination contra revenue impact——27——27—
Adjusted net revenue (non-GAAP)$10,190$10,014$9,533$9,402$9,506$39,139$36,787
Operating efficiency ratio (GAAP)46.26%41.95%40.84%43.89%46.95%43.27%44.33%
Impact of adjustments noted above(211)bps(54)bps(53)bps(44)bps(304)bps(92)bps(79)bps
Adjusted operating efficiency ratio (non-GAAP)44.15%41.41%40.31%43.45%43.91%42.35%43.54%
        


22

Reconciliation of Non-GAAP Measures

The following summarizes our non-GAAP measures. While these non-GAAP measures are widely used by investors, analysts and bank regulatory agencies to assess the operating performance and capital position of financial services companies, they may not be comparable to similarly-titled measures reported by other companies. The following table presents reconciliations of these non-GAAP measures to the applicable amounts measured in accordance with GAAP.

20242024202420242023
(Dollars in millions)Q4Q3Q2Q1Q4
Pre- Provision Earnings
Total net revenue$10,190 $10,014$9,506$9,402$9,506
Non-interest expense(6,089)(5,314)(4,946)(5,137)(5,717)
Pre-provision earnings(9)
$4,101 $4,700$4,560$4,265$3,789
Tangible Common Equity (Period-End)
Stockholders’ equity$60,784 $62,925$57,981$57,801$58,089
Goodwill and other intangible assets(10)
(15,157)(15,214)(15,226)(15,257)(15,289)
Noncumulative perpetual preferred stock(4,845)(4,845)(4,845)(4,845)(4,845)
Tangible common equity(11)
$40,782 $42,866$37,910$37,699$37,955
Tangible Common Equity (Average)
Stockholders’ equity$61,764 $61,289$58,107$57,998$55,632
Goodwill and other intangible assets(10)
(15,195)(15,225)(15,249)(15,280)(15,304)
Noncumulative perpetual preferred stock(4,845)(4,845)(4,845)(4,845)(4,845)
Tangible common equity(11)
$41,724 $41,219$38,013$37,873$35,483
Return on Tangible Common Equity (Average)
Net income available to common stockholders$1,022 $1,692$531$1,200$639
Tangible common equity (Average)
41,724 41,21938,01337,87335,483
Return on tangible common equity(11)(12)
9.77 %16.42%5.59%12.67%7.20%
Tangible Assets (Period-End)
Total assets$490,144 $486,433$480,018$481,720$478,464
Goodwill and other intangible assets(10)
(15,157)(15,214)(15,226)(15,257)(15,289)
Tangible assets(11)
$474,987 $471,219$464,792$466,463$463,175
23

20242024202420242023
(Dollars in millions)Q4Q3Q2Q1Q4
Tangible Assets (Average)
Total assets$488,300 $481,219 $477,285 $474,995 $472,594 
Goodwill and other intangible assets(10)
(15,195)(15,225)(15,249)(15,280)(15,304)
Tangible assets(11)
$473,105 $465,994 $462,036 $459,715 $457,290 
Return on Tangible Assets (Average)
Net income$1,096 $1,777 $597 $1,280 $706 
Tangible Assets (Average)473,105 465,994 462,036 459,715 457,290 
Return on tangible assets(11)(13)
0.92%1.53%0.52%1.11%0.62%
TCE Ratio
Tangible common equity (Period-end)$40,782 $42,866 $37,910 $37,699 $37,955 
Tangible Assets (Period-end)474,987 471,219 464,792 466,463 463,175 
TCE Ratio(11)
8.6%9.1%8.2%8.1%8.2%
Tangible Book Value per Common Share
Tangible common equity (Period-end)$40,782 $42,866 $37,910 $37,699 $37,955 
Outstanding Common Shares381.2 381.5 381.9 382.1 380.4 
Tangible book value per common share(11)
$106.97 $112.36 $99.28 $98.67 $99.78 
__________
(1)Regulatory capital metrics and capital ratios as of December 31, 2024 are preliminary and therefore subject to change.    
(2)Excludes certain components of AOCI in accordance with rules applicable to Category III institutions.
(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)Management believes that this financial metric is useful in assessing the ability of a lending institution to generate income in excess of its provision for credit losses.
(10)Includes impact of related deferred taxes.
(11)Management believes that this financial metric is useful in assessing capital adequacy and the level of returns generated.
(12)Return on average tangible common equity is a non-GAAP measure calculated based annualized on net income (loss) available to common stockholders less income (loss) from discontinued operations, net of tax, for the period, divided by average TCE.
(13)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.
24
v3.24.4
Cover
Jan. 21, 2025
Entity Information [Line Items]  
Document Type 8-K
Document Period End Date Jan. 21, 2025
Entity Registrant Name CAPITAL ONE FINANCIAL CORP
Entity Incorporation, State or Country Code DE
Entity File Number 001-13300
Entity Tax Identification Number 54-1719854
Entity Address, Address Line One 1680 Capital One Drive,
Entity Address, City or Town McLean,
Entity Address, State or Province VA
Entity Address, Postal Zip Code 22102
City Area Code 703
Local Phone Number 720-1000
Written Communications false
Soliciting Material false
Pre-commencement Tender Offer false
Pre-commencement Issuer Tender Offer false
Entity Emerging Growth Company false
Entity Central Index Key 0000927628
Amendment Flag false
Common Stock (par value $.01 per share)  
Entity Information [Line Items]  
Title of 12(b) Security Common Stock (par value $.01 per share)
Trading Symbol COF
Security Exchange Name NYSE
Depositary Shares, Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series I  
Entity Information [Line Items]  
Title of 12(b) Security Depositary Shares, Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series I
Trading Symbol COF PRI
Security Exchange Name NYSE
Depositary Shares, Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series J  
Entity Information [Line Items]  
Title of 12(b) Security Depositary Shares, Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series J
Trading Symbol COF PRJ
Security Exchange Name NYSE
Depositary Shares, Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series K  
Entity Information [Line Items]  
Title of 12(b) Security Depositary Shares, Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series K
Trading Symbol COF PRK
Security Exchange Name NYSE
Depositary Shares, Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series L  
Entity Information [Line Items]  
Title of 12(b) Security Depositary Shares, Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series L
Trading Symbol COF PRL
Security Exchange Name NYSE
Depositary Shares, Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series N  
Entity Information [Line Items]  
Title of 12(b) Security Depositary Shares, Each Representing a 1/40th Interest in a Share of Fixed Rate Non-Cumulative Perpetual Preferred Stock, Series N
Trading Symbol COF PRN
Security Exchange Name NYSE
1.650% Senior Notes Due 2029  
Entity Information [Line Items]  
Title of 12(b) Security 1.650% Senior Notes Due 2029
Trading Symbol COF29
Security Exchange Name NYSE
Capital One Financial (NYSE:COF-N)
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Capital One Financial (NYSE:COF-N)
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