CAPITAL ONE FINANCIAL CORP

For the period ended Sep 30, 2025. Filed Nov 3, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Nov 3, 2025

COF$195.84-1.4%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Consolidated Statements of Cash Flows

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

	Nine Months Ended September 30,
(Dollars in millions)	2025	2024
Operating activities:
Income from continuing operations, net of tax	$334	$3,654
Loss from discontinued operations, net of tax	(15)	0
Net income	319	3,654
Adjustments to reconcile net income to net cash from operating activities:
Provision for credit losses	16,513	9,074
Depreciation and amortization, net	3,655	2,423
Deferred tax benefit	(1,404)	(501)
Net securities losses	0	35
Loss (gain) on sales of loans	2	27
Stock-based compensation expense	576	425
Other fair value adjustments	101	37
Loans held for sale:
Originations and purchases	(3,687)	(2,603)
Proceeds from sales and paydowns	3,264	2,887
Changes in operating assets and liabilities:
Changes in interest receivable	2	(99)
Changes in other assets	(640)	913
Changes in interest payable	(187)	56
Changes in other liabilities	1,359	(617)
Net change from discontinued operations	14	0
Net cash from (used in) operating activities	$19,887	$15,711
Investing activities:
Securities available for sale:
Purchases	(12,585)	(11,677)
Proceeds from paydowns and maturities	13,287	8,732
Proceeds from sales	1	175
Proceeds from sales of securities related to the Transaction	9,696	0
Loans:
Net changes in loans originated as held for investment	(20,849)	(9,984)
Principal recoveries of loans previously charged off	3,647	2,197
Changes in premises and equipment	(1,134)	(848)
Net cash received in the Transaction	16,465	0
Net cash used in other investing activities	(1,163)	(756)
Net cash from (used in) investing activities	$7,365	$(12,161)

See Notes to Consolidated Financial Statements.
83	Capital One Financial Corporation (COF)

CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)

	Nine Months Ended September 30,
(Dollars in millions)	2025	2024
Financing activities:
Deposits and borrowings:
Changes in deposits	$(1,046)	$4,987
Issuance of securitized debt obligations	1,495	997
Maturities and paydowns of securitized debt obligations	(8,097)	(3,434)
Issuance of senior and subordinated notes	4,481	3,985
Maturities and paydowns of senior and subordinated notes	(6,307)	(2,911)
Changes in other borrowings	48	(21)
Common stock:
Net proceeds from issuances	295	251
Dividends paid	(1,008)	(700)
Preferred stock:
Net proceeds from issuances	0	0
Dividends paid	(179)	(171)
Redemptions	(500)	0
Purchases of treasury stock	(1,579)	(573)
Proceeds from share-based payment activities	1	4
Net cash from (used in) financing activities	(12,396)	2,414
Changes in cash, cash equivalents and restricted cash for securitization investors	14,856	5,964
Cash, cash equivalents and restricted cash for securitization investors, beginning of the period	43,671	43,755
Cash, cash equivalents and restricted cash for securitization investors, end of the period	$58,527	$49,719
Supplemental cash flow information:
Interest paid	$10,828	$9,831
Income tax paid	494	563
Non-cash item:
Reissuance of treasury stock, issuance of preferred stock and stock-based compensation awards related to the Transaction	$51,790	$0

See Notes to Consolidated Financial Statements.
84	Capital One Financial Corporation (COF)

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.