CAPITAL ONE FINANCIAL CORP
For the period ended Dec 31, 2023. Filed Feb 23, 2024.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Feb 23, 2024
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Nonperforming Loans and Other Nonperforming Assets
Nonperforming Loans and Nonperforming Assets
Nonperforming loans include loans that have been placed on nonaccrual status. Nonperforming assets consist of nonperforming loans, repossessed assets and other foreclosed assets. See “Item 8. Financial Statements and Supplementary Data—Note 1—Summary of Significant Accounting Policies” for information on our policies for classifying loans as nonperforming for each of our loan categories.
Table 25 presents our nonperforming loans, by portfolio segment, and other nonperforming assets as of December 31, 2023 and 2022. We do not classify loans held for sale as nonperforming. We provide additional information on our credit quality metrics in “Business Segment Financial Performance.”
Table 25: Nonperforming Loans and Other Nonperforming Assets(1)
| December 31, 2023 | December 31, 2022 | |||
|---|---|---|---|---|
| (Dollars in millions) | Amount | Rate | Amount | Rate |
| Nonperforming loans held for investment:(2) | ||||
| Credit Card: | ||||
| International card businesses | $9 | 0.13% | $9 | 0.14% |
| Total credit card | 9 | 0.01 | 9 | 0.01 |
| Consumer Banking: | ||||
| Auto | 712 | 0.96 | 595 | 0.76 |
| Retail banking | 46 | 3.36 | 39 | 2.49 |
| Total consumer banking | 758 | 1.00 | 634 | 0.79 |
| Commercial Banking: | ||||
| Commercial and multifamily real estate | 425 | 1.23 | 271 | 0.72 |
| Commercial and industrial | 336 | 0.60 | 430 | 0.75 |
| Total commercial banking | 761 | 0.84 | 701 | 0.74 |
| Total nonperforming loans held for investment(3) | 1,528 | 0.48 | 1,344 | 0.43 |
| Other nonperforming assets(4) | 62 | 0.02 | 61 | 0.02 |
| Total nonperforming assets | $1,590 | 0.50 | $1,405 | 0.45 |
(1)We recognized interest income for loans classified as nonperforming of $91 million and $66 million in 2023 and 2022, respectively.
| 96 | Capital One Financial Corporation (COF) |
(2)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.
(3)Excluding the impact of domestic credit card loans, nonperforming loans as a percentage of total loans held for investment was 0.88% and 0.74% as of December 31, 2023 and 2022, respectively.
(4)The denominators used in calculating nonperforming asset rates consist of total loans held for investment and other nonperforming assets.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.