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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

July 23, 2024
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 July 23, 2024, Capital One Financial Corporation (the “Company”) issued a press release announcing its financial results for the second quarter ended June 30, 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 July 23, 2024 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 August 6, 2024 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: July 23, 2024
By:/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: July 23, 2024
Capital One Reports Second Quarter 2024 Net Income of $597 million,
or $1.38 per share
Net of adjusting items, Second Quarter 2024 Net Income of $3.14 per share(1)
McLean, Va. (July 23, 2024) – Capital One Financial Corporation (NYSE: COF) today announced net income for the second quarter of 2024 of $597 million, or $1.38 per diluted common share, compared with net income of $1.3 billion, or $3.13 per diluted common share in the first quarter of 2024, and with net income of $1.4 billion, or $3.52 per diluted common share in the second quarter of 2023. Adjusted net income(1) for the second quarter of 2024 was $3.14 per diluted common share.
"We posted strong second quarter results while continuing to lean into opportunities to grow and further strengthen our domestic card and national consumer banking franchises," said Richard D. Fairbank, Founder, Chairman, and Chief Executive Officer. "And we’re “all in” and working hard to complete the Discover acquisition, which will create a consumer banking and global payments platform with the potential to enhance competition, deliver compelling financial results, and create significant value for merchants, small businesses, and consumers."
The quarter included the following adjusting items:
(Dollars in millions, except per share data)Pre-Tax
Impact		After-Tax Diluted EPS
Impact
Allowance build for Walmart program agreement loss sharing termination$826 $1.63 
Walmart program agreement termination contra revenue impact$27 $0.05 
Discover integration expenses$31 $0.06 
FDIC special assessment$8 $0.02 



Capital One Second Quarter 2024 Earnings
Page 2
All comparisons below are for the second quarter of 2024 compared with the first quarter of 2024 unless otherwise noted.
Second Quarter 2024 Income Statement Summary:
•Total net revenue increased 1 percent to $9.5 billion.
•Total non-interest expense decreased 4 percent to $4.9 billion:
◦5 percent increase in marketing.
◦6 percent decrease in operating expenses.
•Pre-provision earnings(2) increased 7 percent to $4.6 billion.
•Provision for credit losses increased $1.2 billion to $3.9 billion:
•Net charge-offs of $2.6 billion.
•$1.3 billion loan reserve build.
•Net interest margin of 6.70 percent, an increase of 1 basis point.
•Efficiency ratio of 52.03 percent.
◦Adjusted efficiency ratio(1) of 51.47 percent.
•Operating efficiency ratio of 40.84 percent.
◦Adjusted operating efficiency ratio(1) of 40.31 percent.
Second Quarter 2024 Balance Sheet Summary:
•Common equity Tier 1 capital ratio(3) under Basel III Standardized Approach of 13.2 percent at June 30, 2024.
•Period-end loans held for investment in the quarter increased $3.0 billion, or 1 percent, to $318.2 billion.
◦Credit Card period-end loans increased $3.3 billion, or 2 percent, to $153.9 billion.
•Domestic Card period-end loans increased $3.2 billion, or 2 percent, to $147.1 billion.
◦Consumer Banking period-end loans increased $564 million, or 1 percent, to $75.7 billion.
•Auto period-end loans increased $584 million, or 1 percent, to $74.4 billion.
◦Commercial Banking period-end loans decreased $833 million, or 1 percent, to $88.6 billion.
•Average loans held for investment in the quarter increased $274 million, or less than 1 percent, to $314.9 billion.
◦Credit Card average loans increased $822 million, or 1 percent, to $150.5 billion.
•Domestic Card average loans increased $857 million, or 1 percent, to $143.7 billion.
◦Consumer Banking average loans increased $294 million, or less than 1 percent, to $75.4 billion.
•Auto average loans increased $330 million, or less than 1% percent, to $74.1 billion.
◦Commercial Banking average loans decreased $842 million, or 1 percent, to $89.0 billion.
•Period-end total deposits increased $473 million, or less than 1 percent, to $351.4 billion, while average deposits increased $3.8 billion, or 1 percent, to $349.5 billion.
•Interest-bearing deposits rate paid increased 3 basis points to 3.56 percent.

Capital One Second Quarter 2024 Earnings
Page 3
Earnings Conference Call Webcast Information
The company will hold an earnings conference call on July 23, 2024 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 August 6, 2024 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”) and Quarterly Reports on Form 10-Q and Current Reports on Form 8-K filed with the SEC.
About Capital One
Capital One Financial Corporation (www.capitalone.com) is a financial holding company which, along with its subsidiaries, had $351.4 billion in deposits and $480.0 billion in total assets as of June 30, 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 July 23, 2024 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 July 23, 2024 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 June 30, 2024 are preliminary and therefore subject to change.

Exhibit 99.2

Capital One Financial Corporation
Financial Supplement(1)(2)
Second 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 Quarterly Report on Form 10-Q for the period ended June 30, 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 Q2Six Months Ended June 30,
(Dollars in millions, except per share data and as noted) 20242024202320232023202420232024 vs.
Q2Q1Q4Q3Q2Q1Q2202420232023
Income Statement
Net interest income$7,546 $7,488 $7,519 $7,423 $7,113 1 %6 %$15,034 $14,299 5 %
Non-interest income1,960 1,914 1,987 1,943 1,899 2 3 3,874 3,616 7 
Total net revenue(1)
9,506 9,402 9,506 9,366 9,012 1 5 18,908 17,915 6 
Provision for credit losses3,909 2,683 2,857 2,284 2,490 46 57 6,592 5,285 25 
Non-interest expense:
Marketing1,064 1,010 1,254 972 886 5 20 2,074 1,783 16 
Operating expense3,882 4,127 4,463 3,888 3,908 (6)(1)8,009 7,956 1 
Total non-interest expense4,946 5,137 5,717 4,860 4,794 (4)3 10,083 9,739 4 
Income from continuing operations before income taxes651 1,582 932 2,222 1,728 (59)(62)2,233 2,891 (23)
Income tax provision54 302 226 432 297 (82)(82)356 500 (29)
Net income597 1,280 706 1,790 1,431 (53)(58)1,877 2,391 (21)
Dividends and undistributed earnings allocated to participating securities(2)
(9)(23)(10)(28)(23)(61)(61)(32)(39)(18)
Preferred stock dividends(57)(57)(57)(57)(57)— — (114)(114)— 
Net income available to common stockholders$531 $1,200 $639 $1,705 $1,351 (56)(61)$1,731 $2,238 (23)
Common Share Statistics
Basic earnings per common share:(2)
Net income per basic common share$1.39 $3.14 $1.67 $4.46 $3.53 (56)%(61)%$4.52 $5.85 (23)%
Diluted earnings per common share:(2)
Net income per diluted common share$1.38 $3.13 $1.67 $4.45 $3.52 (56)%(61)%$4.51 $5.83 (23)%
Weighted-average common shares outstanding (in millions):
Basic383.1 382.2 381.9 382.5 382.8 — — 382.7 382.7 — 
Diluted383.9 383.4 382.8 383.3 383.7 — — 383.7 383.8 — 
Common shares outstanding (period-end, in millions)381.9 382.1 380.4 381.0 381.4 — — 381.9 381.4 — 
Dividends declared and paid per common share$0.60 $0.60 $0.60 $0.60 $0.60 — — $1.20 $1.20 — 
Tangible book value per common share (period-end)(3)
99.28 98.67 99.78 87.97 90.07 1 %10 %99.28 90.07 10 %
1

2024 Q2Six Months Ended June 30,
(Dollars in millions)20242024202320232023202420232024 vs.
Q2Q1Q4Q3Q2Q1Q2202420232023
Balance Sheet (Period-End)
Loans held for investment$318,186 $315,154 $320,472 $314,780 $311,323 1 %2 %$318,186 $311,323 2 %
Interest-earning assets452,547 453,557 449,701 445,428 441,250 — 3 452,547 441,250 3 
Total assets480,018 481,720 478,464 471,435 467,800 — 3 480,018 467,800 3 
Interest-bearing deposits324,437 323,352 320,389 317,217 314,393 — 3 324,437 314,393 3 
Total deposits351,442 350,969 348,413 346,011 343,705 — 2 351,442 343,705 2 
Borrowings47,956 50,361 49,856 49,247 50,258 (5)(5)47,956 50,258 (5)
Common equity53,135 52,955 53,244 48,823 49,713 — 7 53,135 49,713 7 
Total stockholders’ equity57,981 57,801 58,089 53,668 54,559 — 6 57,981 54,559 6 
Balance Sheet (Average Balances)
Loans held for investment$314,888 $314,614 $315,890 $312,759 $309,655 — 2 %$314,751 $308,711 2 %
Interest-earning assets450,908 447,803 446,929 443,532 439,139 1 %3 449,356 437,180 3 
Total assets477,285 474,995 472,594 469,860 466,652 — 2 476,140 464,459 3 
Interest-bearing deposits322,581 318,450 316,808 316,032 313,207 1 3 320,515 311,010 3 
Total deposits349,488 345,657 345,328 345,013 343,678 1 2 347,572 341,910 2 
Borrowings48,842 50,474 51,070 49,736 48,468 (3)1 49,658 48,243 3 
Common equity53,262 53,152 50,786 50,166 50,511 — 5 53,207 50,221 6 
Total stockholders’ equity58,107 57,998 55,632 55,012 55,357 — 5 58,052 55,066 5 
    
    
2

CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 2: Selected Metrics—Consolidated
2024 Q2Six Months Ended June 30,
(Dollars in millions, except as noted) 20242024202320232023202420232024 vs.
Q2Q1Q4Q3Q2Q1Q2202420232023
Performance Metrics
Net interest income growth (period over period)1 %— 1 %4 %(1)%****5 %11 %**
Non-interest income growth (period over period)2 (4)%2 2 11 ****7 4 **
Total net revenue growth (period over period)1 (1)1 4 1 ****6 9 **
Total net revenue margin(4)
8.43 8.40 8.51 8.45 8.21 3 bps22 bps8.42 8.20 22 bps
Net interest margin(5)
6.70 6.69 6.73 6.69 6.48 1 22 6.69 6.54 15 
Return on average assets0.50 1.08 0.60 1.52 1.23 (58)(73)0.79 1.03 (24)
Return on average tangible assets(6)
0.52 1.11 0.62 1.58 1.27 (59)(75)0.81 1.06 (25)
Return on average common equity(7)
3.99 9.03 5.03 13.59 10.70 (504)(671)6.51 8.91 (240)
Return on average tangible common equity(8)
5.59 12.67 7.20 19.59 15.30 (708)(971)9.12 12.74 (362)
Efficiency ratio(9)
52.03 54.64 60.14 51.89 53.20 (261)(117)53.33 54.36 (103)
Operating efficiency ratio(10)
40.84 43.89 46.95 41.51 43.36 (305)(252)42.36 44.41 (205)
Effective income tax rate for continuing operations 8.3 19.1 24.2 19.4 17.2 (1,080)(890)15.9 17.3 (140)
Employees (period-end, in thousands)52.1 51.3 52.0 54.2 55.6 2%(6)%52.1 55.6 (6)%
Credit Quality Metrics
Allowance for credit losses$16,649$15,380$15,296$14,955$14,6468%14%$16,649$14,64614%
Allowance coverage ratio5.23 %4.88 %4.77 %4.75 %4.70 %35 bps53 bps5.23 %4.70 %53 bps
Net charge-offs$2,644$2,616$2,533$1,999$2,1851%21%$5,260$3,88235%
Net charge-off rate(11)
3.36 %3.33 %3.21 %2.56 %2.82 %3 bps54 bps3.34 %2.52 %82 bps
30+ day performing delinquency rate3.36 3.40 3.71 3.42 3.08 (4)28 3.36 3.08 28 
30+ day delinquency rate3.63 3.67 3.99 3.71 3.36 (4)27 3.63 3.36 27 
Capital Ratios(12)
Common equity Tier 1 capital
13.2 %13.1 %12.9 %13.0 %12.7 %10 bps50 bps13.2 %12.7 %50 bps
Tier 1 capital14.5 14.4 14.2 14.3 14.0 10 50 14.5 14.0 50 
Total capital16.3 16.3 16.0 16.2 16.0 — 30 16.3 16.0 30 
Tier 1 leverage11.3 11.3 11.2 11.2 11.0 — 30 11.3 11.0 30 
Tangible common equity (“TCE”)(13)
8.2 8.1 8.2 7.3 7.6 10 60 8.2 7.6 60 
    
 
3

CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 3: Consolidated Statements of Income
2024 Q2Six Months Ended June 30,
(Dollars in millions, except as noted)20242024202320232023202420232024 vs.
Q2Q1Q4Q3Q2Q1Q2202420232023
Interest income:
Loans, including loans held for sale$9,993 $9,920 $9,934 $9,696 $9,057 1 %10 %$19,913 $17,780 12 %
Investment securities700 687 669 627 639 2 10 1,387 1,254 11 
Other587 570 542 550 470 3 25 1,157 886 31 
Total interest income11,280 11,177 11,145 10,873 10,166 1 11 22,457 19,920 13 
Interest expense:
Deposits2,874 2,812 2,745 2,611 2,277 2 26 5,686 4,133 38 
Securitized debt obligations258 261 263 249 236 (1)9 519 447 16 
Senior and subordinated notes591 606 608 579 528 (2)12 1,197 1,017 18 
Other borrowings11 10 10 11 12 10 (8)21 24 (13)
Total interest expense3,734 3,689 3,626 3,450 3,053 1 22 7,423 5,621 32 
Net interest income7,546 7,488 7,519 7,423 7,113 1 6 15,034 14,299 5 
Provision for credit losses3,909 2,683 2,857 2,284 2,490 46 57 6,592 5,285 25 
Net interest income after provision for credit losses3,637 4,805 4,662 5,139 4,623 (24)(21)8,442 9,014 (6)
Non-interest income:
Interchange fees, net1,249 1,145 1,207 1,234 1,213 9 3 2,394 2,352 2 
Service charges and other customer-related fees459 462 424 453 411 (1)12 921 790 17 
Net securities gains (losses)— — (34)— — — — — — —
Other252 307 390 256 275 (18)(8)559 474 18 
Total non-interest income1,960 1,914 1,987 1,943 1,899 2 3 3,874 3,616 7 
Non-interest expense:
Salaries and associate benefits2,200 2,478 2,284 2,274 2,317 (11)(5)4,678 4,744 (1)
Occupancy and equipment551 554 628 518 506 (1)9 1,105 1,014 9 
Marketing1,064 1,010 1,254 972 886 5 20 2,074 1,783 16 
Professional services316 262 359 295 290 21 9 578 614 (6)
Communications and data processing355 351 345 344 344 1 3 706 694 2 
Amortization of intangibles19 19 22 24 22 — (14)38 36 6 
Other441 463 825 433 429 (5)3 904 854 6 
Total non-interest expense4,946 5,137 5,717 4,860 4,794 (4)3 10,083 9,739 4 
Income from continuing operations before income taxes651 1,582 932 2,222 1,728 (59)(62)2,233 2,891 (23)
Income tax provision54 302 226 432 297 (82)(82)356 500 (29)
Net income597 1,280 706 1,790 1,431 (53)(58)1,877 2,391 (21)
Dividends and undistributed earnings allocated to participating securities(2)
(9)(23)(10)(28)(23)(61)(61)(32)(39)(18)
Preferred stock dividends(57)(57)(57)(57)(57)— — (114)(114)— 
Net income available to common stockholders$531 $1,200 $639 $1,705 $1,351 (56)(61)$1,731 $2,238 (23)
4

2024 Q2Six Months Ended June 30,
20242024202320232023202420232024 vs.
Q2Q1Q4Q3Q2Q1Q2202420232023
Basic earnings per common share:(2)
Net income per basic common share$1.39 $3.14 $1.67 $4.46 $3.53 (56)%(61)%$4.52 $5.85 (23)%
Diluted earnings per common share:(2)
Net income per diluted common share$1.38 $3.13 $1.67 $4.45 $3.52 (56)%(61)%$4.51 $5.83 (23)%
Weighted-average common shares outstanding (in millions):
Basic common shares383.1 382.2 381.9 382.5 382.8 — — 382.7 382.7 — 
Diluted common shares383.9 383.4 382.8 383.3 383.7 — — 383.7 383.8 — 
5

CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 4: Consolidated Balance Sheets
2024 Q2
2024202420232023202320242023
(Dollars in millions)Q2Q1Q4Q3Q2Q1Q2
Assets:
Cash and cash equivalents:
Cash and due from banks$5,298 $4,671 $4,903 $4,620 $3,360 13 %58 %
Interest-bearing deposits and other short-term investments40,116 46,357 38,394 40,249 38,236 (13)5 
Total cash and cash equivalents45,414 51,028 43,297 44,869 41,596 (11)9 
Restricted cash for securitization investors2,415 474 458 435 452 ****
Securities available for sale79,250 78,398 79,117 74,837 78,412 1 1 
Loans held for investment:
Unsecuritized loans held for investment289,124 285,577 289,229 284,953 280,933 1 3 
Loans held in consolidated trusts29,062 29,577 31,243 29,827 30,390 (2)(4)
Total loans held for investment318,186 315,154 320,472 314,780 311,323 1 2 
Allowance for credit losses(16,649)(15,380)(15,296)(14,955)(14,646)8 14 
Net loans held for investment301,537 299,774 305,176 299,825 296,677 1 2 
Loans held for sale808 1,631 854 742 1,211 (50)(33)
Premises and equipment, net4,396 4,366 4,375 4,378 4,359 1 1 
Interest receivable2,494 2,514 2,478 2,469 2,297 (1)9 
Goodwill15,062 15,062 15,065 15,048 15,060 — — 
Other assets28,642 28,473 27,644 28,832 27,736 1 3 
Total assets$480,018 $481,720 $478,464 $471,435 $467,800 — 3 
6

2024 Q2
2024202420232023202320242023
(Dollars in millions) Q2Q1Q4Q3Q2Q1Q2
Liabilities:
Interest payable$668 $762 $649 $685 $637 (12)%5 %
Deposits:
Non-interest-bearing deposits27,005 27,617 28,024 28,794 29,312 (2)(8)
Interest-bearing deposits324,437 323,352 320,389 317,217 314,393 — 3 
Total deposits351,442 350,969 348,413 346,011 343,705 — 2 
Securitized debt obligations17,291 17,661 18,043 17,417 17,861 (2)(3)
Other debt:
Federal funds purchased and securities loaned or sold under agreements to repurchase715 568 538 522 649 26 10 
Senior and subordinated notes29,925 32,108 31,248 31,283 31,627 (7)(5)
Other borrowings25 24 27 25 121 4 (79)
Total other debt30,665 32,700 31,813 31,830 32,397 (6)(5)
Other liabilities21,971 21,827 21,457 21,824 18,641 1 18 
Total liabilities422,037 423,919 420,375 417,767 413,241 — 2 
Stockholders’ equity:
Preferred stock0 0 0 0 0 — — 
Common stock7 7 7 7 7 — — 
Additional paid-in capital, net36,012 35,808 35,541 35,334 35,163 1 2 
Retained earnings62,211 61,905 60,945 60,529 59,028 — 5 
Accumulated other comprehensive loss(9,701)(9,534)(8,268)(12,224)(9,818)2 (1)
Treasury stock, at cost(30,548)(30,385)(30,136)(29,978)(29,821)1 2 
Total stockholders’ equity57,981 57,801 58,089 53,668 54,559 — 6 
Total liabilities and stockholders’ equity$480,018 $481,720 $478,464 $471,435 $467,800 — 3 

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 $649 million in Q2 2024, $630 million in Q1 2024, $566 million in Q4 2023, $449 million in Q3 2023 and $443 million in Q2 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 annualized income (loss) from discontinued operations, net of tax, for the period, divided by average common equity. Our calculation of return on average common equity may not be comparable to similarly-titled measures reported by other companies.
(8)Return on average tangible common equity is a non-GAAP measure calculated based on annualized net income (loss) available to common stockholders less annualized income (loss) from discontinued operations, net of tax, for the period, divided by average TCE. 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 Q2 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 Q22024 Q12023 Q2
(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$315,823 $9,993 12.66 %$315,563 $9,920 12.57 %$310,335 $9,057 11.67 %
Investment securities89,501 700 3.13 88,581 687 3.10 89,994 639 2.84 
Cash equivalents and other45,584 587 5.16 43,659 570 5.21 38,810 470 4.84 
Total interest-earning assets$450,908 $11,280 10.01 $447,803 $11,177 9.98 $439,139 $10,166 9.26 
Interest-bearing liabilities:
Interest-bearing deposits$322,581 $2,874 3.56 $318,450 $2,812 3.53 $313,207 $2,277 2.91 
Securitized debt obligations17,452 258 5.91 17,836 261 5.85 17,771 236 5.31 
Senior and subordinated notes30,978 591 7.64 32,211 606 7.52 30,161 528 7.00 
Other borrowings and liabilities(2)
2,502 11 1.73 2,373 10 1.78 2,419 12 1.95 
Total interest-bearing liabilities$373,513 $3,734 4.00 $370,870 $3,689 3.98 $363,558 $3,053 3.36 
Net interest income/spread$7,546 6.01 $7,488 6.00 $7,113 5.90 
Impact of non-interest-bearing funding0.69 0.69 0.58 
Net interest margin6.70 %6.69 %6.48 %
                                                                                                                                                                                                                            
Six Months Ended June 30,
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$315,693 $19,913 12.62 %$309,231 $17,780 11.50 %
Investment securities89,041 1,387 3.12 89,977 1,254 2.79 
Cash equivalents and other44,622 1,157 5.19 37,972 886 4.67 
Total interest-earning assets$449,356 $22,457 10.00 $437,180 $19,920 9.11 
Interest-bearing liabilities:
Interest-bearing deposits$320,515 $5,686 3.55 $311,010 $4,133 2.66 
Securitized debt obligations17,644 519 5.88 17,512 447 5.10 
Senior and subordinated notes31,594 1,197 7.58 30,149 1,017 6.75 
Other borrowings and liabilities(2)
2,438 21 1.75 2,377 24 2.01 
Total interest-bearing liabilities$372,191 $7,423 3.99 $361,048 $5,621 3.11 
Net interest income/spread$15,034 6.01 $14,299 6.00 
Impact of non-interest-bearing funding0.68 0.54 
Net interest margin6.69 %6.54 %

9

CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 7: Loan Information and Performance Statistics
2024 Q2Six Months Ended June 30,
2024202420232023202320242023202420232024 vs. 2023
(Dollars in millions, except as noted) Q2Q1Q4Q3Q2Q1Q2
Loans Held for Investment (Period-End)
Credit card:
   Domestic credit card$147,065 $143,861 $147,666 $140,320 $135,975 2 %8 %$147,065 $135,975 8 %
   International card businesses6,830 6,733 6,881 6,463 6,516 1 5 6,830 6,516 5 
Total credit card153,895 150,594 154,547 146,783 142,491 2 8 153,895 142,491 8 
Consumer banking:
   Auto74,385 73,801 74,075 75,456 75,841 1 (2)74,385 75,841 (2)
   Retail banking1,278 1,298 1,362 1,388 1,439 (2)(11)1,278 1,439 (11)
Total consumer banking75,663 75,099 75,437 76,844 77,280 1 (2)75,663 77,280 (2)
Commercial banking:
   Commercial and multifamily real estate32,832 34,272 34,446 35,622 36,041 (4)(9)32,832 36,041 (9)
   Commercial and industrial55,796 55,189 56,042 55,531 55,511 1 1 55,796 55,511 1 
Total commercial banking88,628 89,461 90,488 91,153 91,552 (1)(3)88,628 91,552 (3)
Total loans held for investment$318,186 $315,154 $320,472 $314,780 $311,323 1 2 $318,186 $311,323 2 
Loans Held for Investment (Average)
Credit card:
   Domestic credit card$143,744 $142,887 $142,112 $137,500 $132,505 1 %8 %$143,316 $130,544 10 %
   International card businesses6,723 6,758 6,515 6,549 6,257 (1)7 6,740 6,183 9 
Total credit card150,467 149,645 148,627 144,049 138,762 1 8 150,056 136,727 10 
Consumer banking:
   Auto74,098 73,768 74,861 75,740 76,233 — (3)73,933 76,846 (4)
   Retail banking1,288 1,324 1,377 1,414 1,465 (3)(12)1,306 1,497 (13)
Total consumer banking75,386 75,092 76,238 77,154 77,698 — (3)75,239 78,343 (4)
Commercial banking:
   Commercial and multifamily real estate33,801 34,310 35,414 35,964 37,068 (1)(9)34,055 37,220 (9)
   Commercial and industrial55,234 55,567 55,611 55,592 56,127 (1)(2)55,401 56,421 (2)
Total commercial banking89,035 89,877 91,025 91,556 93,195 (1)(4)89,456 93,641 (4)
Total average loans held for investment$314,888 $314,614 $315,890 $312,759 $309,655 — 2 $314,751 $308,711 2 
10

2024 Q2Six Months Ended June 30,
2024202420232023202320242023202420232024 vs. 2023
Q2Q1Q4Q3Q2Q1Q2
Net Charge-Off (Recovery) Rates
Credit card:
   Domestic credit card(3)(4)
6.05 %5.94 %5.35 %4.40 %4.38 %11 bps167 bps5.99 %4.21 %178 bps
   International card businesses5.03 5.16 4.94 4.87 4.98 (13)5 5.10 4.77 33 
Total credit card6.00 5.90 5.33 4.42 4.41 10 159 5.95 4.24 171 
Consumer banking:
   Auto1.81 1.99 2.19 1.77 1.40 (18)41 1.90 1.46 44 
   Retail banking5.38 4.04 5.68 3.80 3.25 134 213 4.70 3.10 160 
Total consumer banking1.87 2.03 2.25 1.81 1.43 (16)44 1.95 1.50 45 
Commercial banking:
   Commercial and multifamily real estate0.11 0.20 0.96 0.27 3.91 (9)(380)0.16 2.04 (188)
   Commercial and industrial0.17 0.08 0.26 0.24 0.11 9 6 0.13 0.07 6 
Total commercial banking0.15 0.13 0.53 0.25 1.62 2 (147)0.14 0.85 (71)
Total net charge-offs3.36 3.33 3.21 2.56 2.82 3 54 3.34 2.52 82 
30+ Day Performing Delinquency Rates
Credit card:
   Domestic credit card4.14 %4.48 %4.61 %4.31 %3.74 %(34)bps40 bps4.14 %3.74 %40 bps
   International card businesses4.63 4.83 4.67 4.43 4.24 (20)39 4.63 4.24 39 
Total credit card4.16 4.50 4.61 4.32 3.77 (34)39 4.16 3.77 39 
Consumer banking:
   Auto5.67 5.28 6.34 5.64 5.38 39 29 5.67 5.38 29 
   Retail banking1.57 0.95 1.19 1.07 1.19 62 38 1.57 1.19 38 
Total consumer banking5.60 5.21 6.25 5.55 5.30 39 30 5.60 5.30 30 
Nonperforming Loans and Nonperforming Assets Rates(5)(6)
Credit card:
   International card businesses0.15 %0.13 %0.13 %0.14 %0.16 %2 bps(1)bps0.15 %0.16 %(1)bps
Total credit card0.01 0.01 0.01 0.01 0.01 — — 0.01 0.01 — 
Consumer banking:
   Auto0.88 0.79 0.96 0.85 0.77 9 11 0.88 0.77 11 
   Retail banking2.81 3.21 3.36 3.28 2.99 (40)(18)2.81 2.99 (18)
Total consumer banking0.92 0.83 1.00 0.89 0.82 9 10 0.92 0.82 10 
Commercial banking:
   Commercial and multifamily real estate1.28 1.58 1.23 1.29 1.15 (30)13 1.28 1.15 13 
   Commercial and industrial1.56 1.10 0.60 0.65 0.71 46 85 1.56 0.71 85 
Total commercial banking1.46 1.28 0.84 0.90 0.89 18 57 1.46 0.89 57 
Total nonperforming loans0.63 0.57 0.48 0.48 0.47 6 16 0.63 0.47 16 
Total nonperforming assets0.64 0.58 0.50 0.50 0.48 6 16 0.64 0.48 16 
11

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

Three Months Ended June 30, 2024
Credit CardConsumer Banking
(Dollars in millions) Domestic CardInternational Card BusinessesTotal Credit CardAutoRetail BankingTotal Consumer BankingCommercial BankingTotal
Allowance for credit losses:
Balance as of March 31, 2024$11,298 $456 $11,754 $2,057 $31 $2,088 $1,538 $15,380 
Charge-offs(2,556)(130)(2,686)(615)(21)(636)(39)(3,361)
Recoveries383 45 428 280 3 283 6 717 
Net charge-offs(2,173)(85)(2,258)(335)(18)(353)(33)(2,644)
Provision for credit losses3,435 110 3,545 315 15 330 39 3,914 
Allowance build (release) for credit losses(7)
1,262 25 1,287 (20)(3)(23)6 1,270 
Other changes(8)
— (1)(1)————(1)
Balance as of June 30, 202412,560 480 13,040 2,037 28 2,065 1,544 16,649 
Reserve for unfunded lending commitments:
Balance as of March 31, 2024————— —134 134 
Provision (benefit) for losses on unfunded lending commitments————— —(5)(5)
Balance as of June 30, 2024————— —129 129 
Combined allowance and reserve as of June 30, 2024$12,560 $480 $13,040 $2,037 $28 $2,065 $1,673 $16,778 
Six Months Ended June 30, 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(5,008)(252)(5,260)(1,257)(39)(1,296)(78)(6,634)
Recoveries715 80 795 555 8 563 16 1,374 
Net charge-offs(4,293)(172)(4,465)(702)(31)(733)(62)(5,260)
Provision for credit losses5,592 212 5,804 737 19 756 61 6,621 
Allowance build (release) for credit losses(7)
1,299 40 1,339 35 (12)23 (1)1,361 
Other changes(8)
— (8)(8)— — — — (8)
Balance as of June 30, 202412,560 480 13,040 2,037 28 2,065 1,544 16,649 
Reserve for unfunded lending commitments:
Balance as of December 31, 2023————— — 158 158 
Provision (benefit) for losses on unfunded lending commitments————— — (29)(29)
Balance as of June 30, 2024————— — 129 129 
Combined allowance and reserve as of June 30, 2024$12,560 $480 $13,040 $2,037 $28 $2,065 $1,673 $16,778 
12

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

Three Months Ended June 30, 2024Six Months Ended June 30, 2024
(Dollars in millions)Credit CardConsumer Banking
Commercial Banking(9)
Other(9)
TotalCredit CardConsumer Banking
Commercial Banking(9)
Other(9)
Total
Net interest income (loss)$5,294 $2,025 $609 $(382)$7,546 $10,566 $4,036 $1,208 $(776)$15,034 
Non-interest income1,506 172 271 11 1,960 2,982 331 552 9 3,874 
Total net revenue (loss)6,800 2,197 880 (371)9,506 13,548 4,367 1,760 (767)18,908 
Provision for credit losses3,545 330 34 — 3,909 5,804 756 32 — 6,592 
Non-interest expense3,134 1,250 483 79 4,946 6,363 2,496 998 226 10,083 
Income (loss) from continuing operations before income taxes121 617 363 (450)651 1,381 1,115 730 (993)2,233 
Income tax provision (benefit)30 146 85 (207)54 329 263 172 (408)356 
Income (loss) from continuing operations, net of tax$91 $471 $278 $(243)$597 $1,052 $852 $558 $(585)$1,877 
Three Months Ended March 31, 2024
(Dollars in millions) Credit CardConsumer Banking
Commercial Banking(9)
Other(9)
Total
Net interest income (loss)$5,272 $2,011 $599 $(394)$7,488 
Non-interest income (loss)1,476 159 281 (2)1,914 
Total net revenue (loss)6,748 2,170 880 (396)9,402 
Provision (benefit) for credit losses2,259 426 (2)— 2,683 
Non-interest expense3,229 1,246 515 147 5,137 
Income (loss) from continuing operations before income taxes1,260 498 367 (543)1,582 
Income tax provision (benefit)299 117 87 (201)302 
Income (loss) from continuing operations, net of tax$961 $381 $280 $(342)$1,280 
Three Months Ended June 30, 2023Six Months Ended June 30, 2023
(Dollars in millions) Credit CardConsumer Banking
Commercial Banking(9)
Other(9)
TotalCredit CardConsumer Banking
Commercial Banking(9)
Other(9)
Total
Net interest income (loss)$4,727 $2,269 $632 $(515)$7,113 $9,384 $4,629 $1,280 $(994)$14,299 
Non-interest income (loss)1,499 149 257 (6)1,899 2,862 284 469 1 3,616 
Total net revenue (loss)6,226 2,418 889 (521)9,012 12,246 4,913 1,749 (993)17,915 
Provision for credit losses2,084 259 146 1 2,490 4,345 534 405 1 5,285 
Non-interest expense3,020 1,231 482 61 4,794 6,058 2,514 1,012 155 9,739 
Income (loss) from continuing operations before income taxes1,122 928 261 (583)1,728 1,843 1,865 332 (1,149)2,891 
Income tax provision (benefit)265 219 61 (248)297 437 440 78 (455)500 
Income (loss) from continuing operations, net of tax$857 $709 $200 $(335)$1,431 $1,406 $1,425 $254 $(694)$2,391 

13

CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 10: Financial & Statistical Summary—Credit Card Business
2024 Q2 vs.Six Months Ended June 30,
20242024202320232023202420232024 vs.
(Dollars in millions, except as noted) Q2Q1Q4Q3Q2Q1Q2202420232023
Credit Card
Earnings:
Net interest income$5,294 $5,272 $5,231 $5,114 $4,727 — 12%$10,566 $9,384 13%
Non-interest income1,506 1,476 1,565 1,513 1,499 2%— 2,982 2,862 4 
Total net revenue6,800 6,748 6,796 6,627 6,226 1 9 13,548 12,246 11 
Provision for credit losses3,545 2,259 2,353 1,953 2,084 57 705,804 4,345 34
Non-interest expense3,134 3,229 3,417 3,015 3,020 (3)4 6,363 6,058 5 
Income from continuing operations before income taxes121 1,260 1,026 1,659 1,122 (90)(89)1,381 1,843 (25)
Income tax provision30 299 241 393 265 (90)(89)329 437 (25)
Income from continuing operations, net of tax$91 $961 $785 $1,266 $857 (91)(89)$1,052 $1,406 (25)
Selected performance metrics:
Period-end loans held for investment$153,895$150,594$154,547$146,783$142,4912 8 $153,895$142,4918 
Average loans held for investment150,467149,645148,627144,049138,7621 8 150,056136,72710 
Average yield on loans outstanding(1)
18.79 %18.84 %18.96 %19.02 %18.17 %(5)bps62 bps18.82 %18.07 %75 bps
Total net revenue margin(10)
18.03 17.99 18.24 18.40 17.95 4 8 18.01 17.91 10 
Net charge-off rate6.00 5.90 5.33 4.42 4.41 10 159 5.95 4.24 171 
30+ day performing delinquency rate4.16 4.50 4.61 4.32 3.77 (34)39 4.16 3.77 39 
30+ day delinquency rate4.17 4.50 4.62 4.32 3.77 (33)40 4.17 3.77 40 
Nonperforming loan rate(5)
0.01 0.01 0.01 0.01 0.01 — — 0.01 0.01 — 
Purchase volume(11)
$165,143$150,171$162,055$158,640$157,93710%5%$315,314$299,5955%
14

2024 Q2 vs.Six Months Ended June 30,
20242024202320232023202420232024 vs.
(Dollars in millions, except as noted)Q2Q1Q4Q3Q2Q1Q2202420232023
Domestic Card
Earnings:
Net interest income$5,001 $4,972 $4,940 $4,827 $4,453 1%12%$9,973 $8,843 13%
Non-interest income1,440 1,411 1,498 1,445 1,431 2 1 2,851 2,729 4 
Total net revenue(12)
6,441 6,383 6,438 6,272 5,884 1 9 12,824 11,572 11 
Provision for credit losses3,435 2,157 2,238 1,861 1,995 59 725,592 4,169 34
Non-interest expense2,946 3,025 3,186 2,810 2,805 (3)5 5,971 5,652 6 
Income from continuing operations before income taxes60 1,201 1,014 1,601 1,084 (95)(94)1,261 1,751 (28)
Income tax provision15 283 239 378 256 (95)(94)298 413 (28)
Income from continuing operations, net of tax$45 $918 $775 $1,223 $828 (95)(95)$963 $1,338 (28)
Selected performance metrics:
Period-end loans held for investment$147,065$143,861$147,666$140,320$135,9752 8 $147,065$135,9758 
Average loans held for investment143,744142,887142,112137,500132,5051 8 143,316130,54410 
Average yield on loans outstanding(1)
18.73 %18.76 %18.88 %18.96 %18.07 %(3)bps66 bps18.75 %17.98 %77 bps
Total net revenue margin(10)(12)
17.87 17.82 18.07 18.24 17.76 5 11 17.85 17.73 12 
Net charge-off rate(3)(4)
6.05 5.94 5.35 4.40 4.38 11 167 5.99 4.21 178 
30+ day performing delinquency rate4.14 4.48 4.61 4.31 3.74 (34)40 4.14 3.74 40 
Purchase volume(11)
$161,370$146,696$158,290$154,880$154,18410%5%$308,066$292,4945%
Refreshed FICO scores:(13)
Greater than 66069 %68 %68 %69 %69 %1 — 69 %69 %— 
660 or below31 32 32 31 31 (1)— 31 31 — 
Total100 %100 %100 %100 %100 %100 %100 %
    

15

CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 11: Financial & Statistical Summary—Consumer Banking Business
2024 Q2 vs.Six Months Ended June 30,
20242024202320232023202420232024 vs.
(Dollars in millions, except as noted)Q2Q1Q4Q3Q2Q1Q2202420232023
Consumer Banking
Earnings:
Net interest income$2,025 $2,011 $1,951 $2,133 $2,269 1%(11)%$4,036 $4,629 (13)%
Non-interest income172 159 163 142 149 8 15 331 284 17 
Total net revenue2,197 2,170 2,114 2,275 2,418 1 (9)4,367 4,913 (11)
Provision for credit losses330 426 422 213 259 (23)27756 534 42
Non-interest expense1,250 1,246 1,402 1,262 1,231 — 2 2,496 2,514 (1)
Income from continuing operations before income taxes617 498 290 800 928 24 (34)1,115 1,865 (40)
Income tax provision146 117 68 189 219 25 (33)263 440 (40)
Income from continuing operations, net of tax$471 $381 $222 $611 $709 24 (34)$852 $1,425 (40)
Selected performance metrics:
Period-end loans held for investment$75,663$75,099$75,437$76,844$77,2801 (2)$75,663$77,280(2)
Average loans held for investment75,38675,09276,23877,15477,698— (3)75,23978,343(4)
Average yield on loans held for investment(1)
8.54 %8.33 %8.17 %7.97 %7.65 %21 bps89 bps8.44 %7.52 %92 bps
Auto loan originations$8,463$7,522$6,157$7,452$7,16013%18%$15,985$13,37120%
Period-end deposits305,422300,806296,171290,789286,1742 7 305,422286,1747 
Average deposits300,794294,448291,486287,457285,6472 5 297,621282,2295 
Average deposits interest rate3.22 %3.15 %3.06 %2.85 %2.46 %7 bps76 bps3.19 %2.21 %98 bps
Net charge-off rate1.87 2.03 2.25 1.81 1.43 (16)44 1.95 1.50 45 
30+ day performing delinquency rate5.60 5.21 6.25 5.55 5.30 39 30 5.60 5.30 30 
30+ day delinquency rate6.35 5.86 7.08 6.27 5.95 49 40 6.35 5.95 40 
Nonperforming loan rate(5)
0.92 0.83 1.00 0.89 0.82 9 10 0.92 0.82 10 
Nonperforming asset rate(6)
0.99 0.91 1.09 0.96 0.88 8 11 0.99 0.88 11 
Auto—At origination FICO scores:(14)
Greater than 66053 %53 %53 %52 %52 %— 1%53 %52 %1%
621 - 66020 20 20 20 20 — — 20 20 — 
620 or below27 27 27 28 28 — (1)27 28 (1)
Total100 %100 %100 %100 %100 %100 %100 %
16

CAPITAL ONE FINANCIAL CORPORATION (COF)
Table 12: Financial & Statistical Summary—Commercial Banking Business
2024 Q2 vs.Six Months Ended June 30,
20242024202320232023202420232024 vs.
(Dollars in millions, except as noted) Q2Q1Q4Q3Q2Q1Q2202420232023
Commercial Banking
Earnings:
Net interest income$609 $599 $617 $621 $632 2%(4)%$1,208$1,280(6)%
Non-interest income271 281 245 288 257 (4)5 55246918 
Total net revenue(9)
880 880 862 909 889 — (1)1,7601,7491 
Provision (benefit) for credit losses34 (2)84 116 146 **(77)32405(92)
Non-interest expense483 515 487 512 482 (6)— 9981,012(1)
Income from continuing operations before income taxes363 367 291 281 261 (1)39 730332120 
Income tax provision85 87 68 67 61 (2)39 17278121 
Income from continuing operations, net of tax$278 $280 $223 $214 $200 (1)39 $558$254120 
Selected performance metrics:
Period-end loans held for investment$88,628$89,461$90,488$91,153$91,552(1)(3)$88,628$91,552(3)
Average loans held for investment 89,03589,87791,02591,55693,195(1)(4)89,45693,641(4)
Average yield on loans held for investment(1)(9)
7.23 %7.14 %7.24 %7.16 %6.75 %9 bps48 bps7.18 %6.53 %65 bps
Period-end deposits$29,210$31,082$32,712$36,035$36,793(6)%(21)%$29,210$36,793(21)%
Average deposits30,81031,84434,52537,27937,960(3)(19)31,32738,945(20)
Average deposits interest rate2.55 %2.65 %2.79 %2.93 %2.68 %(10)bps(13)bps2.60 %2.51 %9 bps
Net charge-off rate0.15 0.13 0.53 0.25 1.62 2 (147)0.14 0.85 (71)
Nonperforming loan rate(5)
1.46 1.28 0.84 0.90 0.89 18 57 1.46 0.89 57 
Nonperforming asset rate(6)
1.46 1.28 0.84 0.90 0.89 18 57 1.46 0.89 57 
Risk category:(15)
Noncriticized$79,695$80,804$81,758$82,968$84,583(1)%(6)%$79,695$84,583(6)%
Criticized performing7,6397,5097,9697,3636,1582 24 7,6396,15824 
Criticized nonperforming1,2941,14876182281113 60 1,29481160 
Total commercial banking loans held for investment$88,628$89,461$90,488$91,153$91,552(1)(3)$88,628$91,552(3)
Risk category as a percentage of period-end loans held for investment:(15)
Noncriticized89.92 %90.33 %90.35 %91.02 %92.38 %(41)bps(246)bps89.92 %92.38 %(246)bps
Criticized performing8.62 8.39 8.81 8.08 6.73 23 189 8.62 6.73 189 
Criticized nonperforming1.46 1.28 0.84 0.90 0.89 18 57 1.46 0.89 57 
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 Q2 vs.Six Months Ended June 30,
20242024202320232023202420232024 vs.
(Dollars in millions)Q2Q1Q4Q3Q2Q1Q2202420232023
Other
Earnings:
Net interest loss$(382)$(394)$(280)$(445)$(515)(3)%(26)%$(776)$(994)(22)%
Non-interest income (loss)11(2)14—(6)****91**
Total net loss(9)
(371)(396)(266)(445)(521)(6)(29)(767)(993)(23)
Provision (benefit) for credit losses——(2)21—**—1**
Non-interest expense(16)(17)
791474117161(46)3022615546
Loss from continuing operations before income taxes(450)(543)(675)(518)(583)(17)(23)(993)(1,149)(14)
Income tax benefit(207)(201)(151)(217)(248)3(17)(408)(455)(10)
Loss from continuing operations, net of tax$(243)$(342)$(524)$(301)$(335)(29)(27)$(585)$(694)(16)
Selected performance metrics:
Period-end deposits$16,810 $19,081 $19,530 $19,187 $20,738 (12)(19)$16,810 $20,738 (19)
Average deposits17,884 19,365 19,317 20,277 20,071 (8)(11)18,624 20,736 (10)
Total
Earnings:
Net interest income$7,546 $7,488 $7,519 $7,423 $7,113 1%6%$15,034 $14,299 5%
Non-interest income1,960 1,914 1,987 1,943 1,899 233,874 3,616 7
Total net revenue9,506 9,402 9,506 9,366 9,012 1518,908 17,915 6
Provision for credit losses3,909 2,683 2,857 2,284 2,490 46576,592 5,285 25
Non-interest expense4,946 5,137 5,717 4,860 4,794 (4)310,083 9,739 4
Income from continuing operations before income taxes651 1,582 932 2,222 1,728 (59)(62)2,233 2,891 (23)
Income tax provision54 302 226 432 297 (82)(82)356 500 (29)
Income from continuing operations, net of tax$597 $1,280 $706 $1,790 $1,431 (53)(58)$1,877 $2,391 (21)
Selected performance metrics:
Period-end loans held for investment$318,186 $315,154 $320,472 $314,780 $311,323 12$318,186 $311,323 2
Average loans held for investment314,888 314,614 315,890 312,759 309,655 —2314,751 308,711 2
Period-end deposits351,442 350,969 348,413 346,011 343,705 —2351,442 343,705 2
Average deposits349,488 345,657 345,328 345,013 343,678 12347,572 341,910 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 $2.1 billion, $1.9 billion and $2.0 billion for the second quarter, first quarter and first six months of 2024, respectively, and $1.9 billion and $1.8 billion for the second quarter and first six months of 2023, respectively. Related interest expense was $8 million for the second and first quarters of 2024, and the second quarter of 2023, and $16 million for both the first six months of 2024 and 2023.
(3)The termination of our Walmart program agreement, effective May 21, 2024, (“Walmart Program Termination”) increased the Domestic Card net charge-off rate by 19 basis points for Q2 2024. Excluding this impact, the Domestic Card net charge-off rate would have been 5.86%.
(4)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%.
(5)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.
(6)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.
(7)The Walmart Program Termination resulted in an allowance for credit losses build in Domestic Card of $826 million in the second quarter of 2024.
(8)Primarily represents foreign currency translation adjustments.
(9)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.
(10)Total net revenue margin is calculated based on annualized total net revenue for the period divided by average interest-earning assets for the period.
(11)Purchase volume consists of purchase transactions, net of returns, for the period, and excludes cash advance and balance transfer transactions.
(12)The Walmart Program Termination decreased Domestic Card net revenue by $27 million and reduced revenue margin by 8 bps. This was more than offset by higher income from the partial quarter effect of the end of the Walmart revenue sharing provisions which increased revenue margin by 18 bps. The net impact of these items on revenue margin was an increase of 10 bps.
(13)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.
(14)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.
(15)Criticized exposures correspond to the “Special Mention,” “Substandard” and “Doubtful” asset categories defined by bank regulatory authorities.
(16)Includes the impact of $8 million, $42 million and $289 million FDIC special assessment in Q2 2024, Q1 2024 and Q4 2023, respectively.
(17)Includes the impact of $31 million in Discover integration expenses in Q2 2024, 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) June 30,
2024		March 31,
2024		December 31,
2023		September 30,
2023		June 30,
2023
Regulatory Capital Metrics
Common equity excluding AOCI$63,435$63,088$62,710$62,245$60,729
Adjustments:
AOCI, net of tax(2)
131427(9)31
Goodwill, net of related deferred tax liabilities(14,800)(14,804)(14,811)(14,797)(14,813)
Other Intangible and deferred tax assets, net of deferred tax liabilities(271)(291)(311)(333)(358)
Common equity Tier 1 capital$48,377$48,007$47,615$47,106$45,589
Tier 1 capital$53,222$52,852$52,460$51,952$50,434
Total capital(3)
59,87659,48459,12458,84457,607
Risk-weighted assets367,068366,161369,206362,962359,613
Adjusted average assets(4)
470,915468,030467,553464,286459,732
Capital Ratios
Common equity Tier 1 capital(5)
13.2%13.1%12.9%13.0%12.7%
Tier 1 capital(6)
14.514.414.214.314.0
Total capital(7)
16.316.216.016.216.0
Tier 1 leverage(4)
11.311.311.211.211.0
TCE(8)
8.28.18.27.37.6


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.
20242024202320232023Six Months Ended June 30,
(Dollars in millions, except per share data and as noted)Q2Q1Q4Q3Q220242023
Adjusted diluted earnings per share (“EPS”):
Net income available to common stockholders (GAAP)$531$1,200$639$1,705$1,351$1,731$2,238
Allowance build for Walmart program agreement loss sharing termination826————826—
Walmart program agreement termination contra revenue impact27————27—
Discover integration expenses31————31—
FDIC special assessment842289——50—
Adjusted net income available to common stockholders before income tax impacts (non-GAAP)1,4231,2429281,7051,3512,6652,238
Income tax impacts(218)(10)(70)——(228)—
Adjusted net income available to common stockholders (non-GAAP)$1,205$1,232$858$1,705$1,351$2,437$2,238
Diluted weighted-average common shares outstanding (in millions) (GAAP)383.9383.4382.8383.3383.7383.7383.8
Diluted EPS (GAAP)$1.38$3.13$1.67$4.45$3.52$4.51$5.83
Impact of adjustments noted above1.760.080.57——1.84—
Adjusted diluted EPS (non-GAAP)$3.14$3.21$2.24$4.45$3.52$6.35$5.83
Adjusted efficiency ratio:
Non-interest expense (GAAP)$4,946$5,137$5,717$4,860$4,794$10,083$9,739
Discover integration expenses(31)————(31)—
FDIC special assessment(8)(42)(289)——(50)—
Adjusted non-interest expense (non-GAAP)$4,907$5,095$5,428$4,860$4,794$10,002$9,739
Total net revenue (GAAP)$9,506$9,402$9,506$9,366$9,012$18,908$17,915
Walmart program agreement termination contra revenue impact27————27—
Adjusted net revenue (non-GAAP)$9,533$9,402$9,506$9,366$9,012$18,935$17,915
Efficiency ratio (GAAP)52.03%54.64%60.14%51.89%53.20%53.33%54.36%
Impact of adjustments noted above(56)bps(45)bps(304)bps——(51)bps—
Adjusted efficiency ratio (non-GAAP)51.47%54.19%57.10%51.89%53.20%52.82%54.36%
Adjusted operating efficiency ratio:
Operating expense (GAAP)$3,882$4,127$4,463$3,888$3,908$8,009$7,956
21

20242024202320232023Six Months Ended June 30,
(Dollars in millions, except per share data and as noted)Q2Q1Q4Q3Q220242023
Discover integration expenses(31)————(31)—
FDIC special assessment(8)(42)(289)——(50)—
Adjusted operating expense (non-GAAP)$3,843$4,085$4,174$3,888$3,908$7,928$7,956
Total net revenue (GAAP)9,506$9,402$9,506$9,366$9,012$18,908$17,915
Walmart program agreement termination revenue impact27————27—
Adjusted net revenue (non-GAAP)$9,533$9,402$9,506$9,366$9,012$18,935$17,915
Operating efficiency ratio (GAAP)40.84%43.89%46.95%41.51%43.36%42.36%44.41%
Impact of adjustments noted above(53)bps(44)bps(304)bps—bps—bps(49)bps—bps
Adjusted operating efficiency ratio (non-GAAP)40.31%43.45%43.91%41.51%43.36%41.87%44.41%
        


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.

20242024202320232023
(Dollars in millions)Q2Q1Q4Q3Q2
Pre- Provision Earnings
Total net revenue$9,506 $9,402 $9,506 $9,366 $9,012 
Non-interest expense(4,946)(5,137)(5,717)(4,860)(4,794)
Pre-provision earnings(9)
$4,560 $4,265 $3,789 $4,506 $4,218 
Tangible Common Equity (Period-End)
Stockholders’ equity$57,981 $57,801 $58,089 $53,668 $54,559 
Goodwill and other intangible assets(10)
(15,226)(15,257)(15,289)(15,308)(15,356)
Noncumulative perpetual preferred stock(4,845)(4,845)(4,845)(4,845)(4,845)
Tangible common equity(11)
$37,910 $37,699 $37,955 $33,515 $34,358 
Tangible Common Equity (Average)
Stockholders’ equity$58,107 $57,998 $55,632 $55,012 $55,357 
Goodwill and other intangible assets(10)
(15,249)(15,280)(15,304)(15,348)(15,187)
Noncumulative perpetual preferred stock(4,845)(4,845)(4,845)(4,845)(4,845)
Tangible common equity(11)
$38,013 $37,873 $35,483 $34,819 $35,325 
Return on Tangible Common Equity (Average)
Net income available to common stockholders$531 $1,200 $639 $1,705 $1,351 
Tangible common equity (Average)
38,013 37,873 35,483 34,819 35,325 
Return on tangible common equity(11)(12)
5.59 %12.67 %7.20 %19.59 %15.30 %
Tangible Assets (Period-End)
Total assets$480,018 $481,720 $478,464 $471,435 $467,800 
Goodwill and other intangible assets(10)
(15,226)(15,257)(15,289)(15,308)(15,356)
Tangible assets(11)
$464,792 $466,463 $463,175 $456,127 $452,444 
23

20242024202320232023
(Dollars in millions)Q2Q1Q4Q3Q2
Tangible Assets (Average)
Total assets$477,285 $474,995 $472,594 $469,860 $466,652 
Goodwill and other intangible assets(10)
(15,249)(15,280)(15,304)(15,348)(15,187)
Tangible assets(11)
$462,036 $459,715 $457,290 $454,512 $451,465 
Return on Tangible Assets (Average)
Net income$597 $1,280 $706 $1,790 $1,431 
Tangible Assets (Average)462,036 459,715 457,290 454,512 451,465 
Return on tangible assets(11)(13)
0.52%1.11%0.62%1.58%1.27%
TCE Ratio
Tangible common equity (Period-end)$37,910 $37,699 $37,955 $33,515 $34,358 
Tangible Assets (Period-end)464,792 466,463 463,175 456,127 452,444 
TCE Ratio(11)
8.2%8.1%8.2%7.3%7.6%
Tangible Book Value per Common Share
Tangible common equity (Period-end)$37,910 $37,699 $37,955 $33,515 $34,358 
Outstanding Common Shares381.9 382.1 380.4 381.0 381.4 
Tangible book value per common share(11)
$99.28 $98.67 $99.78 $87.97 $90.07 
__________
(1)Regulatory capital metrics and capital ratios as of June 30, 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 on annualized net income (loss) available to common stockholders less annualized income (loss) from discontinued operations, net of tax, for the period, divided by average TCE.
(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.
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Jul. 23, 2024
Entity Information [Line Items]  
Document Type 8-K
Document Period End Date Jul. 23, 2024
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
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