Capital One Financial Corporation (Parent Company Only)

12 Months Ended

Dec. 31, 2022

Condensed Financial Information Disclosure [Abstract]

Capital One Financial Corporation (Parent Company Only)

NOTE 19—CAPITAL ONE FINANCIAL CORPORATION (PARENT COMPANY ONLY)

Financial Information

The following parent company only financial statements are prepared in accordance with Regulation S-X of the U.S. Securities and Exchange Commission (“SEC”).

Table 19.1: Parent Company Statements of Income

	Year Ended December 31,
(Dollars in millions)	2022		2021		2020
Interest income	$	595	$	151	$	186
Interest expense	969		392		510
Benefit for Credit Losses	(1)		(1)		0
Dividends from subsidiaries	4,352		13,970		3,003
Non-interest income (loss)	(15)		(26)		(127)
Non-interest expense	35		36		33
Income before income taxes and equity in undistributed earnings of subsidiaries	3,929		13,668		2,519
Income tax benefit	(181)		(82)		(93)
Equity in undistributed earnings of subsidiaries	3,250		(1,360)		102
Net income	7,360		12,390		2,714
Other comprehensive income (loss), net of tax	(10,290)		(3,120)		2,346
Comprehensive income	$	(2,930)	$	9,270	$	5,060

Table 19.2: Parent Company Balance Sheets

(Dollars in millions)	December 31, 2022		December 31, 2021
Assets:
Cash and cash equivalents	$	22,006	$	16,910
Investments in subsidiaries	50,523		57,600
Loans to subsidiaries	6,710		7,849
Securities available for sale	395		513
Other assets	2,281		1,330
Total assets	$	81,915	$	84,202
Liabilities:
Senior and subordinated notes	$	28,970	$	23,017
Accrued expenses and other liabilities	363		156
Total liabilities	29,333		23,173
Total stockholders’ equity	52,582		61,029
Total liabilities and stockholders’ equity	$	81,915	$	84,202

Table 19.3: Parent Company Statements of Cash Flows

	Year Ended December 31,
(Dollars in millions)	2022		2021		2020
Operating activities:
Net income	$	7,360	$	12,390	$	2,714
Adjustments to reconcile net income to net cash from operating activities:
Equity in undistributed earnings of subsidiaries	(3,250)		1,360		(102)
Other operating activities	(2,429)		(4,523)		1,217
Net cash from operating activities	1,681		9,227		3,829
Investing activities:
Changes in investments in subsidiaries	0		3,521		(217)
Proceeds from paydowns and maturities of securities available for sale	96		141		117
Purchases of securities available for sale	(10)		—		—
Changes in loans to subsidiaries	1,139		(1,925)		(2,019)
Net cash from investing activities	1,225		1,737		(2,119)
Financing activities:
Borrowings:
Issuance of senior and subordinated notes	9,271		4,487		1,991
Maturities and paydowns of senior and subordinated notes	(1,250)		(2,750)		(2,900)
Common stock:
Net proceeds from issuances	276		253		241
Dividends paid	(950)		(1,148)		(460)
Preferred stock:
Net proceeds from issuances	0		2,052		1,330
Dividends paid	(228)		(274)		(280)
Redemptions	0		(2,100)		(1,375)
Purchases of treasury stock	(4,948)		(7,605)		(393)
Proceeds from share-based payment activities	19		55		62
Net cash from financing activities	2,190		(7,030)		(1,784)
Changes in cash and cash equivalents	5,096		3,934		(74)
Cash and cash equivalents, beginning of the period	16,910		12,976		13,050
Cash and cash equivalents, end of the period	$	22,006	$	16,910	$	12,976