Capital One Financial (COF) 8-KRegulation FD Disclosure
Filed: 15 Jul 08, 12:00am
Exhibit 99.1
Capital One Financial Corporation
Monthly Charge-off and Delinquency Statistics
As of and for each of the months ended January 31, 2005 through June 30, 2008
National Lending Metrics (Managed Basis)
(dollars in thousands)
2008 Metrics
U.S. Card Metrics | June 2008 | May 2008 | April 2008 | March 2008 | February 2008 | January 2008 | ||||||||||||||||||
Net Principal Charge-Offs | $ | 363,936 | $ | 354,325 | $ | 342,345 | $ | 342,098 | $ | 314,455 | $ | 345,673 | ||||||||||||
Average Loans Held for Investment | $ | 67,998,816 | $ | 67,748,055 | $ | 67,540,760 | $ | 67,585,454 | $ | 68,635,480 | $ | 69,407,764 | ||||||||||||
Annualized Net Charge-Off Rate | 6.42 | % | 6.28 | % | 6.08 | % | 6.07 | % | 5.50 | % | 5.98 | % | ||||||||||||
30 Days + Delinquencies | $ | 2,618,846 | $ | 2,590,892 | $ | 2,649,401 | $ | 2,723,515 | $ | 2,871,007 | $ | 3,009,706 | ||||||||||||
Period-end Loans Held for Investment | $ | 68,059,998 | $ | 67,919,283 | $ | 67,874,929 | $ | 67,382,004 | $ | 68,247,741 | $ | 69,080,666 | ||||||||||||
30 Days + Delinquency Rate | 3.85 | % | 3.81 | % | 3.90 | % | 4.04 | % | 4.21 | % | 4.36 | % | ||||||||||||
Auto Finance Metrics | ||||||||||||||||||||||||
Net Principal Charge-Offs | $ | 83,821 | $ | 76,399 | $ | 71,358 | $ | 84,482 | $ | 80,983 | $ | 84,058 | ||||||||||||
Average Loans Held for Investment | $ | 23,636,503 | $ | 24,116,305 | $ | 24,543,256 | $ | 24,816,112 | $ | 25,079,501 | $ | 25,248,955 | ||||||||||||
Annualized Net Charge-Off Rate | 4.26 | % | 3.80 | % | 3.49 | % | 4.09 | % | 3.87 | % | 4.00 | % | ||||||||||||
30 Days + Delinquencies | $ | 1,782,101 | $ | 1,732,278 | $ | 1,680,642 | $ | 1,581,508 | $ | 1,505,937 | $ | 1,866,516 | ||||||||||||
Period-end Loans Held for Investment | $ | 23,401,160 | $ | 23,831,058 | $ | 24,359,398 | $ | 24,633,665 | $ | 24,891,932 | $ | 25,169,133 | ||||||||||||
30 Days + Delinquency Rate | 7.62 | % | 7.27 | % | 6.90 | % | 6.42 | % | 6.05 | % | 7.42 | % | ||||||||||||
International Metrics | ||||||||||||||||||||||||
Net Principal Charge-Offs | $ | 47,959 | $ | 58,187 | $ | 57,184 | $ | 44,830 | $ | 51,447 | $ | 54,612 | ||||||||||||
Average Loans Held for Investment | $ | 10,731,540 | $ | 10,744,512 | $ | 10,828,673 | $ | 11,216,290 | $ | 11,333,331 | $ | 11,593,069 | ||||||||||||
Annualized Net Charge-Off Rate | 5.36 | % | 6.50 | % | 6.34 | % | 4.80 | % | 5.45 | % | 5.65 | % | ||||||||||||
30 Days + Delinquencies | $ | 574,974 | $ | 561,204 | $ | 562,504 | $ | 562,158 | $ | 553,098 | $ | 533,982 | ||||||||||||
Period-end Loans Held for Investment | $ | 10,740,644 | $ | 10,769,717 | $ | 10,813,477 | $ | 10,987,733 | $ | 11,331,090 | $ | 11,432,842 | ||||||||||||
30 Days + Delinquency Rate | 5.35 | % | 5.21 | % | 5.20 | % | 5.12 | % | 4.88 | % | 4.67 | % |
1
2007 Metrics
U.S. Card Metrics | December 2007 | November 2007 | October 2007 | September 2007 | August 2007 | July 2007 | ||||||||||||||||||
Net Principal Charge-Offs | $ | 288,519 | $ | 274,904 | $ | 256,897 | $ | 219,938 | $ | 206,697 | $ | 213,572 | ||||||||||||
Average Loans Held for Investment | $ | 69,982,501 | $ | 67,420,129 | $ | 66,770,348 | $ | 66,651,519 | $ | 66,440,231 | $ | 66,330,646 | ||||||||||||
Annualized Net Charge-Off Rate | 5.02 | % | 4.89 | % | 4.62 | % | 3.96 | % | 3.73 | % | 3.86 | % | ||||||||||||
30 Days + Delinquencies | $ | 2,981,119 | $ | 2,847,829 | $ | 2,713,147 | $ | 2,537,022 | $ | 2,375,381 | $ | 2,155,213 | ||||||||||||
Period-end Loans Held for Investment | $ | 69,723,169 | $ | 67,990,190 | $ | 67,107,343 | $ | 66,687,232 | $ | 66,612,533 | $ | 66,245,322 | ||||||||||||
30 Days + Delinquency Rate | 4.28 | % | 4.19 | % | 4.04 | % | 3.80 | % | 3.57 | % | 3.25 | % | ||||||||||||
Auto Finance Metrics | ||||||||||||||||||||||||
Net Principal Charge-Offs | $ | 84,902 | $ | 83,213 | $ | 80,876 | $ | 74,856 | $ | 74,207 | $ | 66,300 | ||||||||||||
Average Loans Held for Investment | $ | 25,207,927 | $ | 24,961,944 | $ | 24,592,611 | $ | 24,449,022 | $ | 24,074,862 | $ | 23,995,256 | ||||||||||||
Annualized Net Charge-Off Rate | 4.04 | % | 4.00 | % | 3.95 | % | 3.67 | % | 3.70 | % | 3.32 | % | ||||||||||||
30 Days + Delinquencies | $ | 1,969,338 | $ | 1,767,019 | $ | 1,785,242 | $ | 1,739,530 | $ | 1,611,306 | $ | 1,556,262 | ||||||||||||
Period-end Loans Held for Investment | $ | 25,128,352 | $ | 25,054,610 | $ | 24,670,171 | $ | 24,335,242 | $ | 24,152,302 | $ | 24,040,562 | ||||||||||||
30 Days + Delinquency Rate | 7.84 | % | 7.05 | % | 7.24 | % | 7.15 | % | 6.67 | % | 6.47 | % | ||||||||||||
International Metrics | ||||||||||||||||||||||||
Net Principal Charge-Offs | $ | 47,410 | $ | 58,774 | $ | 57,606 | $ | 50,789 | $ | 48,584 | $ | 52,660 | ||||||||||||
Average Loans Held for Investment | $ | 11,685,891 | $ | 11,832,306 | $ | 11,507,345 | $ | 11,250,572 | $ | 11,244,780 | $ | 10,997,697 | ||||||||||||
Annualized Net Charge-Off Rate | 4.87 | % | 5.96 | % | 6.01 | % | 5.42 | % | 5.18 | % | 5.75 | % | ||||||||||||
30 Days + Delinquencies | $ | 558,199 | $ | 528,002 | $ | 543,803 | $ | 541,483 | $ | 508,429 | $ | 519,216 | ||||||||||||
Period-end Loans Held for Investment | $ | 11,656,922 | $ | 11,608,789 | $ | 11,851,963 | $ | 11,533,797 | $ | 11,278,883 | $ | 11,205,127 | ||||||||||||
30 Days + Delinquency Rate | 4.79 | % | 4.55 | % | 4.59 | % | 4.69 | % | 4.51 | % | 4.63 | % | ||||||||||||
U.S. Card Metrics | June 2007 | May 2007 | April 2007 | March 2007 | February 2007 | January 2007 | ||||||||||||||||||
Net Principal Charge-Offs | $ | 165,060 | $ | 214,823 | $ | 204,062 | $ | 209,545 | $ | 201,720 | $ | 213,993 | ||||||||||||
Average Loans Held for Investment | $ | 66,026,948 | $ | 65,493,112 | $ | 65,402,895 | $ | 66,070,552 | $ | 67,441,752 | $ | 68,281,554 | ||||||||||||
Annualized Net Charge-Off Rate | 3.00 | % | 3.94 | % | 3.74 | % | 3.81 | % | 3.59 | % | 3.76 | % | ||||||||||||
30 Days + Delinquencies | $ | 1,981,225 | $ | 2,025,345 | $ | 1,980,238 | $ | 2,001,231 | $ | 2,209,094 | $ | 2,271,710 | ||||||||||||
Period-end Loans Held for Investment | $ | 66,539,623 | $ | 65,854,676 | $ | 65,627,136 | $ | 65,369,362 | $ | 67,118,371 | $ | 67,992,494 | ||||||||||||
30 Days + Delinquency Rate | 2.98 | % | 3.08 | % | 3.02 | % | 3.06 | % | 3.29 | % | 3.34 | % | ||||||||||||
Auto Finance Metrics | ||||||||||||||||||||||||
Net Principal Charge-Offs | $ | 52,460 | $ | 46,053 | $ | 41,822 | $ | 35,888 | $ | 41,603 | $ | 57,709 | ||||||||||||
Average Loans Held for Investment | $ | 23,943,464 | $ | 23,887,915 | $ | 23,863,169 | $ | 23,762,821 | $ | 23,672,529 | $ | 23,553,386 | ||||||||||||
Annualized Net Charge-Off Rate | 2.63 | % | 2.31 | % | 2.10 | % | 1.81 | % | 2.11 | % | 2.94 | % | ||||||||||||
30 Days + Delinquencies | $ | 1,440,811 | $ | 1,405,865 | $ | 1,226,344 | $ | 1,107,606 | $ | 1,129,479 | $ | 1,300,560 | ||||||||||||
Period-end Loans Held for Investment | $ | 24,067,760 | $ | 23,947,792 | $ | 23,910,793 | $ | 23,930,547 | $ | 23,920,965 | $ | 23,840,965 | ||||||||||||
30 Days + Delinquency Rate | 5.99 | % | 5.87 | % | 5.13 | % | 4.63 | % | 4.72 | % | 5.46 | % | ||||||||||||
International Metrics | ||||||||||||||||||||||||
Net Principal Charge-Offs | $ | 47,325 | $ | 57,238 | $ | 43,294 | $ | 65,463 | $ | 56,327 | $ | 50,752 | ||||||||||||
Average Loans Held for Investment | $ | 10,919,338 | $ | 11,048,043 | $ | 10,978,565 | $ | 11,161,625 | $ | 11,428,599 | $ | 11,671,162 | ||||||||||||
Annualized Net Charge-Off Rate | 5.20 | % | 6.22 | % | 4.73 | % | 7.04 | % | 5.91 | % | 5.22 | % | ||||||||||||
30 Days + Delinquencies | $ | 529,019 | $ | 529,670 | $ | 544,655 | $ | 528,903 | $ | 543,201 | $ | 530,903 | ||||||||||||
Period-end Loans Held for Investment | $ | 10,982,656 | $ | 11,031,586 | $ | 11,178,686 | $ | 11,071,623 | $ | 11,373,184 | $ | 11,586,212 | ||||||||||||
30 Days + Delinquency Rate | 4.82 | % | 4.80 | % | 4.87 | % | 4.78 | % | 4.78 | % | 4.58 | % |
2
2006 Metrics
U.S. Card Metrics | December 2006 | November 2006 | October 2006 | September 2006 | August 2006 | July 2006 | ||||||||||||||||||
Net Principal Charge-Offs | $ | 216,559 | $ | 194,443 | $ | 182,626 | $ | 186,271 | $ | 161,574 | $ | 161,071 | ||||||||||||
Average Loans Held for Investment | $ | 67,867,172 | $ | 66,269,281 | $ | 66,191,871 | $ | 66,052,434 | $ | 65,253,525 | $ | 63,845,699 | ||||||||||||
Annualized Net Charge-Off Rate | 3.83 | % | 3.52 | % | 3.31 | % | 3.38 | % | 2.97 | % | 3.03 | % | ||||||||||||
30 Days + Delinquencies | $ | 2,270,508 | $ | 2,198,424 | $ | 2,156,551 | $ | 2,046,947 | $ | 1,986,688 | $ | 1,911,603 | ||||||||||||
Period-end Loans Held for Investment | $ | 68,778,731 | $ | 66,933,944 | $ | 66,312,840 | $ | 66,287,772 | $ | 65,971,950 | $ | 64,639,034 | ||||||||||||
30 Days + Delinquency Rate | 3.30 | % | 3.28 | % | 3.25 | % | 3.09 | % | 3.01 | % | 2.96 | % | ||||||||||||
Auto Finance Metrics | ||||||||||||||||||||||||
Net Principal Charge-Offs | $ | 54,615 | $ | 49,481 | $ | 49,314 | $ | 42,627 | $ | 39,515 | $ | 39,632 | ||||||||||||
Average Loans Held for Investment | $ | 21,715,708 | $ | 21,490,658 | $ | 21,288,006 | $ | 21,037,454 | $ | 20,808,521 | $ | 20,598,881 | ||||||||||||
Annualized Net Charge-Off Rate | 3.02 | % | 2.76 | % | 2.78 | % | 2.43 | % | 2.28 | % | 2.31 | % | ||||||||||||
30 Days + Delinquencies | $ | 1,382,714 | $ | 1,215,163 | $ | 1,179,438 | $ | 1,095,156 | $ | 1,088,504 | $ | 1,041,930 | ||||||||||||
Period-end Loans Held for Investment | $ | 21,751,827 | $ | 21,576,590 | $ | 21,352,122 | $ | 21,158,797 | $ | 20,925,445 | $ | 20,636,234 | ||||||||||||
30 Days + Delinquency Rate | 6.36 | % | 5.63 | % | 5.52 | % | 5.18 | % | 5.20 | % | 5.05 | % | ||||||||||||
International Metrics | ||||||||||||||||||||||||
Net Principal Charge-Offs | $ | 46,981 | $ | 58,496 | $ | 54,837 | $ | 47,454 | $ | 58,340 | $ | 54,047 | ||||||||||||
Average Loans Held for Investment | $ | 11,759,084 | $ | 11,599,893 | $ | 11,445,941 | $ | 11,660,764 | $ | 11,416,241 | $ | 11,321,255 | ||||||||||||
Annualized Net Charge-Off Rate | 4.79 | % | 6.05 | % | 5.75 | % | 4.88 | % | 6.13 | % | 5.73 | % | ||||||||||||
30 Days + Delinquencies | $ | 534,962 | $ | 525,776 | $ | 527,732 | $ | 520,746 | $ | 528,542 | $ | 531,078 | ||||||||||||
Period-end Loans Held for Investment | $ | 11,750,840 | $ | 11,854,197 | $ | 11,633,865 | $ | 11,479,484 | $ | 11,689,043 | $ | 11,441,793 | ||||||||||||
30 Days + Delinquency Rate | 4.55 | % | 4.44 | % | 4.54 | % | 4.54 | % | 4.52 | % | 4.64 | % | ||||||||||||
U.S. Card Metrics | June 2006 | May 2006 | April 2006 | March 2006 | February 2006 | January 2006 | ||||||||||||||||||
Net Principal Charge-Offs | $ | 159,360 | $ | 153,712 | $ | 154,063 | $ | 165,479 | $ | 112,619 | $ | 141,018 | ||||||||||||
Average Loans Held for Investment | $ | 62,874,471 | $ | 61,749,657 | $ | 61,047,561 | $ | 60,531,094 | $ | 61,491,788 | $ | 61,956,156 | ||||||||||||
Annualized Net Charge-Off Rate | 3.04 | % | 2.99 | % | 3.03 | % | 3.28 | % | 2.20 | % | 2.73 | % | ||||||||||||
30 Days + Delinquencies | $ | 1,813,614 | $ | 1,770,371 | $ | 1,766,971 | $ | 1,755,547 | $ | 1,908,862 | $ | 1,939,086 | ||||||||||||
Period-end Loans Held for Investment | $ | 63,377,950 | $ | 62,542,998 | $ | 61,526,860 | $ | 60,571,108 | $ | 61,249,418 | $ | 61,835,820 | ||||||||||||
30 Days + Delinquency Rate | 2.86 | % | 2.83 | % | 2.87 | % | 2.90 | % | 3.12 | % | 3.14 | % | ||||||||||||
Auto Finance Metrics | ||||||||||||||||||||||||
Net Principal Charge-Offs | $ | 32,438 | $ | 24,955 | $ | 20,378 | $ | 28,147 | $ | 38,060 | $ | 47,895 | ||||||||||||
Average Loans Held for Investment | $ | 20,447,432 | $ | 20,188,298 | $ | 19,927,142 | $ | 19,653,379 | $ | 19,407,397 | $ | 19,253,593 | ||||||||||||
Annualized Net Charge-Off Rate | 1.90 | % | 1.48 | % | 1.23 | % | 1.72 | % | 2.35 | % | 2.99 | % | ||||||||||||
30 Days + Delinquencies | $ | 933,795 | $ | 931,187 | $ | 819,220 | $ | 708,246 | $ | 730,359 | $ | 884,248 | ||||||||||||
Period-end Loans Held for Investment | $ | 20,558,455 | $ | 20,311,911 | $ | 20,067,229 | $ | 19,848,190 | $ | 19,495,145 | $ | 19,335,426 | ||||||||||||
30 Days + Delinquency Rate | 4.54 | % | 4.58 | % | 4.08 | % | 3.57 | % | 3.75 | % | 4.57 | % | ||||||||||||
International Metrics | ||||||||||||||||||||||||
Net Principal Charge-Offs | $ | 58,894 | $ | 55,457 | $ | 54,635 | $ | 51,400 | $ | 46,954 | $ | 50,815 | ||||||||||||
Average Loans Held for Investment | $ | 11,353,194 | $ | 10,926,239 | $ | 10,352,683 | $ | 10,390,340 | $ | 10,723,913 | $ | 10,597,348 | ||||||||||||
Annualized Net Charge-Off Rate | 6.22 | % | 6.09 | % | 6.33 | % | 5.94 | % | 5.25 | % | 5.75 | % | ||||||||||||
30 Days + Delinquencies | $ | 525,707 | $ | 536,765 | $ | 534,670 | $ | 490,893 | $ | 508,096 | $ | 499,900 | ||||||||||||
Period-end Loans Held for Investment | $ | 11,314,451 | $ | 11,320,819 | $ | 10,845,874 | $ | 10,322,546 | $ | 10,534,753 | $ | 10,874,416 | ||||||||||||
30 Days + Delinquency Rate | 4.65 | % | 4.74 | % | 4.93 | % | 4.76 | % | 4.82 | % | 4.60 | % |
3
2005 Metrics
U.S. Card Metrics | December 2005 | November 2005 | October 2005 | September 2005 | August 2005 | July 2005 | ||||||||||||||||||
Net Principal Charge-Offs | $ | 149,806 | $ | 159,221 | $ | 474,646 | $ | 247,272 | $ | 186,106 | $ | 205,283 | ||||||||||||
Average Loans Held for Investment | $ | 61,007,634 | $ | 58,784,290 | $ | 58,413,689 | $ | 58,656,951 | $ | 58,353,037 | $ | 57,926,736 | ||||||||||||
Annualized Net Charge-Off Rate | 2.95 | % | 3.25 | % | 9.75 | % | 5.06 | % | 3.83 | % | 4.25 | % | ||||||||||||
30 Days + Delinquencies | $ | 1,894,579 | $ | 1,863,281 | $ | 1,856,556 | $ | 1,980,173 | $ | 1,954,547 | $ | 1,916,480 | ||||||||||||
Period-end Loans Held for Investment | $ | 62,186,887 | $ | 59,628,324 | $ | 58,429,918 | $ | 58,623,199 | $ | 58,672,963 | $ | 57,962,410 | ||||||||||||
30 Days + Delinquency Rate | 3.05 | % | 3.12 | % | 3.18 | % | 3.38 | % | 3.33 | % | 3.31 | % | ||||||||||||
Auto Finance Metrics | ||||||||||||||||||||||||
Net Principal Charge-Offs | $ | 46,512 | $ | 46,894 | $ | 40,049 | $ | 34,980 | $ | 33,371 | $ | 27,694 | ||||||||||||
Average Loans Held for Investment | $ | 16,313,314 | $ | 16,107,965 | $ | 15,866,491 | $ | 15,525,212 | $ | 15,130,039 | $ | 14,671,714 | ||||||||||||
Annualized Net Charge-Off Rate | 3.42 | % | 3.49 | % | 3.03 | % | 2.70 | % | 2.65 | % | 2.27 | % | ||||||||||||
30 Days + Delinquencies | $ | 934,167 | $ | 883,513 | $ | 862,151 | $ | 730,747 | $ | 718,153 | $ | 690,655 | ||||||||||||
Period-end Loans Held for Investment | $ | 16,372,019 | $ | 16,239,805 | $ | 15,991,139 | $ | 15,730,713 | $ | 15,358,194 | $ | 14,895,654 | ||||||||||||
30 Days + Delinquency Rate | 5.71 | % | 5.44 | % | 5.39 | % | 4.65 | % | 4.68 | % | 4.64 | % | ||||||||||||
International Metrics | ||||||||||||||||||||||||
Net Principal Charge-Offs | $ | 49,233 | $ | 43,813 | $ | 44,492 | $ | 44,995 | $ | 43,843 | $ | 45,283 | ||||||||||||
Average Loans Held for Investment | $ | 10,608,774 | $ | 10,652,561 | $ | 10,475,505 | $ | 10,516,149 | $ | 10,301,995 | $ | 10,443,825 | ||||||||||||
Annualized Net Charge-Off Rate | 5.57 | % | 4.94 | % | 5.10 | % | 5.13 | % | 5.11 | % | 5.20 | % | ||||||||||||
30 Days + Delinquencies | $ | 470,022 | $ | 461,877 | $ | 476,072 | $ | 471,457 | $ | 468,481 | $ | 454,341 | ||||||||||||
Period-end Loans Held for Investment | $ | 10,651,880 | $ | 10,590,395 | $ | 10,615,342 | $ | 10,424,650 | $ | 10,609,902 | $ | 10,321,518 | ||||||||||||
30 Days + Delinquency Rate | 4.41 | % | 4.36 | % | 4.48 | % | 4.52 | % | 4.42 | % | 4.40 | % | ||||||||||||
U.S. Card Metrics | June 2005 | May 2005 | April 2005 | March 2005 | February 2005 | January 2005 | ||||||||||||||||||
Net Principal Charge-Offs | $ | 208,191 | $ | 220,805 | $ | 232,351 | $ | 227,399 | $ | 205,496 | $ | 210,413 | ||||||||||||
Average Loans Held for Investment | $ | 58,004,462 | $ | 57,730,738 | $ | 57,796,093 | $ | 57,617,898 | $ | 58,521,924 | $ | 59,042,419 | ||||||||||||
Annualized Net Charge-Off Rate | 4.31 | % | 4.59 | % | 4.82 | % | 4.74 | % | 4.21 | % | 4.28 | % | ||||||||||||
30 Days + Delinquencies | $ | 1,859,648 | $ | 1,828,520 | $ | 1,826,922 | $ | 1,894,552 | $ | 2,055,089 | $ | 2,124,033 | ||||||||||||
Period-end Loans Held for Investment | $ | 58,010,865 | $ | 57,837,613 | $ | 57,866,942 | $ | 57,652,468 | $ | 58,145,332 | $ | 58,872,796 | ||||||||||||
30 Days + Delinquency Rate | 3.21 | % | 3.16 | % | 3.16 | % | 3.29 | % | 3.53 | % | 3.61 | % | ||||||||||||
Auto Finance Metrics | ||||||||||||||||||||||||
Net Principal Charge-Offs | $ | 24,108 | $ | 19,358 | $ | 17,552 | $ | 36,011 | $ | 28,289 | $ | 27,861 | ||||||||||||
Average Loans Held for Investment | $ | 14,310,401 | $ | 14,017,584 | $ | 13,653,223 | $ | 13,188,041 | $ | 13,042,790 | $ | 10,036,477 | ||||||||||||
Annualized Net Charge-Off Rate | 2.02 | % | 1.66 | % | 1.54 | % | 3.28 | % | 2.60 | % | 3.33 | % | ||||||||||||
30 Days + Delinquencies | $ | 593,857 | $ | 550,293 | $ | 494,509 | $ | 466,856 | $ | 469,924 | $ | 505,472 | ||||||||||||
Period-end Loans Held for Investment | $ | 14,520,216 | $ | 14,139,028 | $ | 13,900,062 | $ | 13,292,953 | $ | 13,086,240 | $ | 10,054,281 | ||||||||||||
30 Days + Delinquency Rate | 4.09 | % | 3.89 | % | 3.56 | % | 3.51 | % | 3.59 | % | 5.03 | % | ||||||||||||
International Metrics | ||||||||||||||||||||||||
Net Principal Charge-Offs | $ | 41,191 | $ | 41,811 | $ | 39,338 | $ | 39,086 | $ | 34,839 | $ | 34,529 | ||||||||||||
Average Loans Held for Investment | $ | 10,445,194 | $ | 10,766,164 | $ | 10,687,030 | $ | 10,646,427 | $ | 10,340,137 | $ | 10,555,902 | ||||||||||||
Annualized Net Charge-Off Rate | 4.73 | % | 4.66 | % | 4.42 | % | 4.41 | % | 4.04 | % | 3.93 | % | ||||||||||||
30 Days + Delinquencies | $ | 457,012 | $ | 463,519 | $ | 471,676 | $ | 469,445 | $ | 480,631 | $ | 442,232 | ||||||||||||
Period-end Loans Held for Investment | $ | 10,430,793 | $ | 10,484,687 | $ | 10,707,628 | $ | 10,658,660 | $ | 10,643,634 | $ | 10,406,093 | ||||||||||||
30 Days + Delinquency Rate | 4.38 | % | 4.42 | % | 4.41 | % | 4.40 | % | 4.52 | % | 4.25 | % |
4
Reconciliation to GAAP Measures
Our “managed” consolidated financial statements reflect adjustments made related to effects of securitization transactions qualifying as sales under accounting principles generally accepted in the United States (“GAAP”). We generate earnings from our “managed” loan portfolio which includes both the on-balance sheet loans and off-balance sheet loans. Our “managed” income statement takes the components of the servicing and securitizations income generated from the securitized portfolio and distributes the revenue and expense to appropriate income statement line items from which they originated. For this reason, we believe the “managed” consolidated financial statements and related managed metrics to be useful to stakeholders.
Reportable Segments
We manage our business as two distinct operating segments: Local Banking and National Lending. The Local Banking and National Lending segments are considered reportable segments based on quantitative thresholds applied to the managed loan portfolio for reportable segments provided by SFAS No. 131,Disclosures about Segments of an Enterprise and Related Information.As management makes decisions on a managed basis within each segment, information about reportable segments is provided on a managed basis.
Net Charge-Off Rate
Average Loans Outstanding used in the calculation of the Net Charge-Off Rate includes an estimate of the uncollectible portion of finance charge and fee receivables. We recognize earned finance charges and fee income on open ended loans according to the contractual provisions of the credit arrangements. When we do not expect full payment of finance charges and fees, we do not accrue the estimated uncollectible portion as income. The estimated uncollectible portion of finance charges and fees is adjusted quarterly.
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