Exhibit 99.1
Capital One Financial Corporation
Monthly Charge-off and Delinquency Statistics
As of and for the month ended November 30, 2009
(dollars in thousands)
Domestic Card Metrics | November 2009 | |||
Net Principal Charge-Offs | $ | 480,084 | ||
Average Loans Held for Investment | $ | 60,026,302 | ||
Annualized Net Charge-Off Rate | 9.60 | % | ||
30 Days + Delinquencies | $ | 3,517,484 | ||
Period-end Loans Held for Investment | $ | 59,872,204 | ||
30 Days + Delinquency Rate | 5.87 | % | ||
Auto Finance Metrics | ||||
Net Principal Charge-Offs | $ | 57,375 | ||
Average Loans Held for Investment | $ | 18,759,469 | ||
Annualized Net Charge-Off Rate | 3.67 | % | ||
30 Days + Delinquencies | $ | 1,776,988 | ||
Period-end Loans Held for Investment | $ | 18,561,196 | ||
30 Days + Delinquency Rate | 9.57 | % | ||
International Card Metrics | ||||
Net Principal Charge-Offs | $ | 65,406 | ||
Average Loans Held for Investment | $ | 8,260,900 | ||
Annualized Net Charge-Off Rate | 9.50 | % | ||
30 Days + Delinquencies | $ | 549,829 | ||
Period-end Loans Held for Investment | $ | 8,331,412 | ||
30 Days + Delinquency Rate | 6.60 | % | ||
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.
Net Charge-Off Rate
Average Loans Held for Investment used in the calculation of the Annualized 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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