CAPITAL ONE FINANCIAL CORP
For the period ended Dec 31, 2023. Filed Feb 23, 2024.
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FY2023 · Filed Feb 23, 2024
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Business Segment Results
Business Segment Financial Performance
Table 7 summarizes our business segment results, which we report based on total net revenue (loss) and net income (loss) from continuing operations, for the years ended December 31, 2023, 2022 and 2021. We provide information on the allocation methodologies used to derive our business segment results in “Item 8. Financial Statements and Supplementary Data—Note 17—Business Segments and Revenue from Contracts with Customers.”
Table 7: Business Segment Results
| Year Ended December 31, | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2023 · 2022 · 2021 | ||||||||||||
| Total NetRevenue (Loss)(1) | Net Income(Loss)(2) | Total NetRevenue (Loss)(1) | Net Income(Loss)(2) | Total NetRevenue (Loss)(1) | Net Income (Loss)(2) | |||||||
| (Dollars in millions) | Amount | % ofTotal | Amount | % ofTotal | Amount | % ofTotal | Amount | % ofTotal | Amount | % ofTotal | Amount | % ofTotal |
| Credit Card | $25,669 | 70% | $3,457 | 71% | $22,355 | 65% | $4,927 | 67% | $18,880 | 62% | $7,758 | 63% |
| Consumer Banking | 9,302 | 25 | 2,258 | 46 | 9,434 | 28 | 2,250 | 31 | 9,002 | 29 | 3,676 | 30 |
| Commercial Banking(3) | 3,520 | 10 | 691 | 14 | 3,590 | 10 | 843 | 11 | 3,301 | 11 | 1,532 | 12 |
| Other(3) | (1,704) | (5) | (1,519) | (31) | (1,129) | (3) | (660) | (9) | (748) | (2) | (572) | (5) |
| Total | $36,787 | 100% | $4,887 | 100% | $34,250 | 100% | $7,360 | 100% | $30,435 | 100% | $12,394 | 100% |
(1)Total net revenue (loss) consists of net interest income and non-interest income.
(2)Net income (loss) for our business segments and the Other category is based on income (loss) from continuing operations, net of tax.
(3)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.
| 63 | Capital One Financial Corporation (COF) |
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