CAPITAL ONE FINANCIAL CORP | 2013 | FY | 3


The following Parent Company Only financial statements are provided in accordance with Regulation S-X of the SEC.

 

     December 31,  

(Dollars in millions)

   2013     2012  

Balance sheets

    

Assets:

    

Cash and cash equivalents

   $ 7,185      $ 7,342   

Investment in subsidiaries

     43,430        46,605   

Loans to subsidiaries

     1,487        1,335   

Securities available for sale

     807        464   

Other

     976        1,432   
  

 

 

   

 

 

 

Total assets

     53,885        57,178   
  

 

 

   

 

 

 

Liabilities:

    

Senior and subordinated notes

     9,458        10,116   

Other borrowings

     1,545        5,036   

Other

     1,138        1,527   
  

 

 

   

 

 

 

Total liabilities

     12,141        16,679   
  

 

 

   

 

 

 

Stockholders’ equity:

    

Preferred stock

     0        0   

Common stock

     6        6   

Additional paid-in-capital, net

     26,526        26,188   

Retained earnings

     20,404        16,853   

Accumulated other comprehensive income

     (872     739   

Less: Treasury stock, at cost

     (4,320     (3,287
  

 

 

   

 

 

 

Total Stockholders’ equity

     41,744        40,499   
  

 

 

   

 

 

 

Total liabilities and stockholders’ equity

   $ 53,885      $ 57,178   
  

 

 

   

 

 

 

 

     Year Ended December 31,  

(Dollars in millions)

   2013     2012     2011  

Statements of income

      

Interest from temporary investments

   $ 94      $ 47      $ 26   

Interest expense

     250        574        515   

Dividends, principally from bank subsidiaries

     5,950        0        1,950   

Non-interest income

     33        697        29   

Non-interest expense

     196        173        361   
  

 

 

   

 

 

   

 

 

 

Income before income taxes and equity in undistributed earnings of subsidiaries

     5,631        (3     1,129   

Income tax (benefit)

     (66     (168     (247

Equity in undistributed earnings of subsidiaries

     (1,305     3,569        1,877   
  

 

 

   

 

 

   

 

 

 

Income from continuing operations, net of tax

     4,392        3,734        3,253   

Loss from discontinued operations, net of tax

     (233     (217     (106
  

 

 

   

 

 

   

 

 

 

Net income

     4,159        3,517        3,147   

Dividends and undistributed earnings allocated to participating securities

     (17     (15     (26

Preferred stock dividends

     (53     (15     0   
  

 

 

   

 

 

   

 

 

 

Net income available to common stockholders

   $ 4,089      $ 3,487      $ 3,121   
  

 

 

   

 

 

   

 

 

 

 

     Year Ended December 31,  

(Dollars in millions)

   2013     2012     2011  

Statements of cash flows

      

Operating activities:

      

Net income

   $ 4,159      $ 3,517      $ 3,147   

Adjustments to reconcile net income (loss) to net cash provided by operating activities:

      

Dividends (undistributed earnings) from subsidiaries:

      

Continuing operations

     1,305        (3,569     (1,877

Discontinued operations

     233        217        106   

Accretion

     (57     (24     (2

Stock plan compensation expense

     143        112        92   

Decrease (increase) in other assets

     (818     1        (65

Increase (decrease) in other liabilities

     (388     (34     18   
  

 

 

   

 

 

   

 

 

 

Net cash (used in) provided by operating activities

     4,577        220        1,419   
  

 

 

   

 

 

   

 

 

 

Investing activities:

      

(Increase) decrease in investment in subsidiaries

     787        (9,709     (46

Proceeds from maturities of securities available for sale

     46        24        0   

Purchase of securities available for sale

     (287     (351     (54

(Increase) decrease in loans to subsidiaries

     (153     (997     (1

Proceeds from issuance of common stock for acquisition

     0        2,638        0   
  

 

 

   

 

 

   

 

 

 

Net cash provided by (used in) investing activities

     393        (8,395     (101
  

 

 

   

 

 

   

 

 

 

Financing activities:

      

(Decrease) increase in borrowings from subsidiaries

     (3,490     555        450   

Issuance of senior notes

     849        2,246        2,992   

Maturities of senior notes

     (1,040     (632     (855

Dividends paid—common stock

     (555     (111     (91

Dividends paid—preferred stock

     (53     (15     0   

Purchases of treasury stock

     (1,033     (43     (42

Net proceeds from issuances of common stock

     81        3,233        40   

Net proceeds from issuances of preferred stock

     0        853        0   

Proceeds from stock-based payment activities

     114        80        57   
  

 

 

   

 

 

   

 

 

 

Net cash (used in) provided by financing activities

     (5,127     6,166        2,551   
  

 

 

   

 

 

   

 

 

 

(Decrease) increase in cash and cash equivalents

     (157     (2,009     3,869   

Cash and cash equivalents at beginning of year

     7,342        9,351        5,482   
  

 

 

   

 

 

   

 

 

 

Cash and cash equivalents at end of year

   $ 7,185      $ 7,342      $ 9,351   
  

 

 

   

 

 

   

 

 

 

 


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