CAPITAL ONE FINANCIAL CORP - FORM 8-K - EX-99.2

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8-K - 8-K - CAPITAL ONE FINANCIAL CORP	d658169d8k.htm
EX-99.1 - EX-99.1 - CAPITAL ONE FINANCIAL CORP	d658169dex991.htm

Exhibit 99.2

Capital One Financial Corporation

Financial Supplement

Fourth Quarter 2013⁽¹⁾⁽²⁾

Table of Contents


		Page
Capital One Financial Corporation Consolidated

Table 1:	Financial Summary—Consolidated		1

Table 2:	Selected Metrics—Consolidated		2

Table 3:	Consolidated Statements of Income		3

Table 4:	Consolidated Balance Sheets		4

Table 5:	Notes to Financial & Selected Metrics and Consolidated Financial Statements (Tables 1 - 4)		5

Table 6:	Average Balances, Net Interest Income and Net Interest Margin		6

Table 7:	Loan Information and Performance Statistics		7

Business Segment Detail

Table 8:	Financial & Statistical Summary—Credit Card Business		8

Table 9:	Financial & Statistical Summary—Consumer Banking Business		9

Table 10:	Financial & Statistical Summary—Commercial Banking Business		10

Table 11:	Financial & Statistical Summary—Other and Total		11

Table 12:	Notes to Loan and Business Segment Disclosures (Tables 7 - 11)		12

Other

Table 13:	Reconciliation of Non-GAAP Measures and Calculation of Regulatory Capital Measures Under Basel I		13

⁽¹⁾

The information contained in this Financial Supplement is preliminary and based on data available at the time of the earnings presentation, and investors should refer to our Annual Report on Form 10-K for the period ended December 31, 2013 once it is filed with the Securities and Exchange Commission.

⁽²⁾

References to ING Direct refer to the business and assets acquired and liabilities assumed in the February 17, 2012 acquisition. References to the 2012 U.S. card acquisition refer to the May 1, 2012 transaction in which we acquired substantially all of HSBC’s credit card and private-label credit card business in the United States.

CAPITAL ONE FINANCIAL CORPORATION (COF)

Table 1: Financial Summary—Consolidated⁽¹⁾


(Dollars in millions, except per share data and as noted) (unaudited)	2013 Q4			2013 Q3			2013 Q2			2013 Q1			2012 Q4
Earnings
Net interest income	$	4,423		$	4,560		$	4,553		$	4,570		$	4,528
Non-interest income⁽²⁾		1,121			1,091			1,085			981			1,096

Total net revenue⁽³⁾		5,544			5,651			5,638			5,551			5,624

Provision for credit losses		957			849			762			885			1,151
Non-interest expense:
Marketing		427			299			330			317			393
Amortization of intangibles⁽⁴⁾		166			161			167			177			191
Acquisition-related⁽⁵⁾		60			37			50			46			69
Operating expenses		2,627			2,650			2,512			2,488			2,602

Total non-interest expense		3,280			3,147			3,059			3,028			3,255

Income from continuing operations before income taxes		1,307			1,655			1,817			1,638			1,218
Income tax provision		425			525			581			494			370

Income from continuing operations, net of tax		882			1,130			1,236			1,144			848
Loss from discontinued operations, net of tax⁽²⁾		(23	)		(13	)		(119	)		(78	)		(5	)

Net income		859			1,117			1,117			1,066			843
Dividends and undistributed earnings allocated to participating securities⁽⁶⁾		(4	)		(5	)		(4	)		(5	)		(3	)
Preferred stock dividends⁽⁶⁾		(13	)		(13	)		(13	)		(13	)		(15	)

Net income available to common stockholders	$	842		$	1,099		$	1,100		$	1,048		$	825

Common Share Statistics
Basic EPS:⁽⁶⁾
Net income from continuing operations, net of tax	$	1.51		$	1.91		$	2.09		$	1.94		$	1.43
Loss from discontinued operations, net of tax		(0.04	)		(0.02	)		(0.20	)		(0.13	)		(0.01	)

Net income available to common stockholders per common share	$	1.47		$	1.89		$	1.89		$	1.81		$	1.42

Diluted EPS:⁽⁶⁾
Net income from continuing operations, net of tax	$	1.48		$	1.88		$	2.07		$	1.92		$	1.42
Loss from discontinued operations, net of tax		(0.03	)		(0.02	)		(0.20	)		(0.13	)		(0.01	)

Net income available to common stockholders per common share	$	1.45		$	1.86		$	1.87		$	1.79		$	1.41

Weighted average common shares outstanding (in millions) for:
Basic EPS		573.4			582.3			581.5			580.5			579.2
Diluted EPS		582.6			591.1			588.8			586.3			585.6
Common shares outstanding (period end, in millions)		572.7			582.0			584.9			584.0			582.2
Dividends per common share	$	0.30		$	0.30		$	0.30		$	0.05		$	0.05
Tangible book value per common share (period end)⁽⁷⁾		42.47			43.19			41.57			41.87			40.23
Balance Sheet (Period End)
Loans held for investment⁽⁸⁾	$	197,199		$	191,814		$	191,512		$	191,333		$	205,889
Interest-earning assets		265,170			259,152			265,693			268,479			280,096
Total assets		297,048			289,888			296,542			300,163			312,918
Interest-bearing deposits		181,880			184,553			187,768			191,093			190,018
Total deposits		204,523			206,834			209,865			212,410			212,485
Borrowings		40,654			31,845			36,231			37,492			49,910
Common equity		40,891			40,897			40,188			40,443			39,646
Total stockholders’ equity		41,744			41,750			41,041			41,296			40,499
Balance Sheet (Quarterly Average Balances)
Loans held for investment⁽⁸⁾	$	192,813		$	191,135		$	190,562		$	195,997		$	202,944
Interest-earning assets		262,957			264,796			266,544			272,345			277,886
Total assets		294,108			294,939			297,766			303,223			308,096
Interest-bearing deposits		184,206			186,752			189,311			190,612			192,122
Total deposits		205,706			208,340			210,650			211,555			213,494
Borrowings		36,463			36,355			36,915			41,574			44,189
Common equity		41,610			40,431			40,726			40,107			39,359
Total stockholders’ equity		42,463			41,284			41,579			40,960			40,212

Page 1

CAPITAL ONE FINANCIAL CORPORATION (COF)

Table 2: Selected Metrics—Consolidated⁽¹⁾


	2013			2013			2013			2013			2012
(Dollars in millions, except per share data and as noted) (unaudited)	Q4			Q3			Q2			Q1			Q4
Performance Metrics
Net interest income growth (quarter over quarter)		(3	)%		—	%		—	%		1	%		(3	)%
Non-interest income growth (quarter over quarter)		3			1			11			(10	)		(4	)
Total net revenue growth (quarter over quarter)		(2	)		—			2			(1	)		(3	)
Total net revenue margin⁽⁹⁾		8.43			8.54			8.46			8.15			8.10
Net interest margin⁽¹⁰⁾		6.73			6.89			6.83			6.71			6.52
Return on average assets⁽¹¹⁾		1.20			1.53			1.66			1.51			1.10
Return on average tangible assets⁽¹²⁾		1.27			1.62			1.75			1.59			1.16
Return on average common equity⁽¹³⁾		8.32			11.00			11.97			11.23			8.44
Return on average tangible common equity⁽¹⁴⁾		13.81			18.08			19.70			18.79			14.42
Non-interest expense as a % of average loans held for investment⁽¹⁵⁾		6.80			6.59			6.42			6.18			6.42
Efficiency ratio⁽¹⁶⁾		59.16			55.69			54.26			54.55			57.88
Effective income tax rate for continuing operations		32.5			31.7			32.0			30.2			30.4
Full-time equivalent employees (in thousands), period end		42.0			39.6			39.6			39.3			39.6
Credit Quality Metrics⁽⁸⁾
Allowance for loan and lease losses	$	4,315		$	4,333		$	4,407		$	4,606		$	5,156
Allowance as a % of loans held for investment		2.19	%		2.26	%		2.30	%		2.41	%		2.50	%
Allowance as a % of loans held for investment (excluding acquired loans)		2.54			2.66			2.74			2.91			3.02
Net charge-offs	$	969		$	917		$	969		$	1,079		$	1,150
Net charge-off rate⁽¹⁷⁾		2.01	%		1.92	%		2.03	%		2.20	%		2.26	%
Net charge-off rate (excluding acquired loans)⁽¹⁷⁾		2.37			2.29			2.46			2.69			2.78
30+ day performing delinquency rate		2.63			2.54			2.35			2.37			2.70
30+ day performing delinquency rate (excluding acquired loans)		3.08			3.01			2.83			2.90			3.29
30+ day delinquency rate		2.96			2.88			2.71			2.74			3.09
30+ day delinquency rate (excluding acquired loans)		3.46			3.41			3.26			3.35			3.77
Capital Ratios ⁽¹⁸⁾
Tier 1 common ratio		12.2	%		12.7	%		12.1	%		11.8	%		11.0	%
Tier 1 risk-based capital ratio		12.6			13.1			12.4			12.2			11.3
Total risk-based capital ratio		14.7			15.3			14.7			14.4			13.6
Tangible common equity (“TCE”) ratio		8.7			9.2			8.7			8.6			7.9

Page 2

CAPITAL ONE FINANCIAL CORPORATION (COF)

Table 3: Consolidated Statements of Income⁽¹⁾


	Three Months Ended									Year Ended
(Dollars in millions, except per share data) (unaudited)	December 31, 2013			September 30, 2013			December 31, 2012			December 31, 2013			December 31, 2012
Interest income:
Loans, including loans held for sale	$	4,398		$	4,579		$	4,727		$	18,222		$	17,544
Investment securities		414			396			361			1,575			1,329
Other		27			23			27			101			91

Total interest income		4,839			4,998			5,115			19,898			18,964

Interest expense:
Deposits		288			309			348			1,241			1,403
Securitized debt obligations		40			42			58			183			271
Senior and subordinated notes		75			76			85			315			345
Other borrowings		13			11			96			53			356

Total interest expense		416			438			587			1,792			2,375

Net interest income		4,423			4,560			4,528			18,106			16,589
Provision for credit losses		957			849			1,151			3,453			4,415

Net interest income after provision for credit losses		3,466			3,711			3,377			14,653			12,174

Non-interest income:⁽²⁾
Service charges and other customer-related fees		504			530			595			2,118			2,106
Interchange fees, net		489			476			459			1,896			1,647
Net other-than-temporary impairment losses recognized in earnings		(1	)		(11	)		(12	)		(41	)		(52	)
Bargain purchase gain⁽¹⁹⁾		—			—			—			—			594
Other		129			96			54			305			512

Total non-interest income		1,121			1,091			1,096			4,278			4,807

Non-interest expense:
Salaries and associate benefits		1,103			1,145			1,039			4,432			3,876
Occupancy and equipment		429			369			380			1,504			1,327
Marketing		427			299			393			1,373			1,364
Professional services		347			320			354			1,303			1,270
Communications and data processing		218			224			205			885			778
Amortization of intangibles⁽⁴⁾		166			161			191			671			609
Acquisition-related⁽⁵⁾		60			37			69			193			336
Other		530			592			624			2,153			2,386

Total non-interest expense		3,280			3,147			3,255			12,514			11,946

Income from continuing operations before income taxes		1,307			1,655			1,218			6,417			5,035
Income tax provision		425			525			370			2,025			1,301

Income from continuing operations, net of tax		882			1,130			848			4,392			3,734
Loss from discontinued operations, net of tax⁽²⁾		(23	)		(13	)		(5	)		(233	)		(217	)

Net income		859			1,117			843			4,159			3,517
Dividends and undistributed earnings allocated to participating securities⁽⁶⁾		(4	)		(5	)		(3	)		(17	)		(15	)
Preferred stock dividends⁽⁶⁾		(13	)		(13	)		(15	)		(53	)		(15	)

Net income available to common stockholders	$	842		$	1,099		$	825		$	4,089		$	3,487


Basic earnings per common share:⁽⁶⁾
Net income from continuing operations	$	1.51		$	1.91		$	1.43		$	7.45		$	6.60
Loss from discontinued operations		(0.04	)		(0.02	)		(0.01	)		(0.40	)		(0.39	)

Net income per basic common share	$	1.47		$	1.89		$	1.42		$	7.05		$	6.21


Diluted earnings per common share:⁽⁶⁾
Net income from continuing operations	$	1.48		$	1.88		$	1.42		$	7.35		$	6.54
Loss from discontinued operations		(0.03	)		(0.02	)		(0.01	)		(0.39	)		(0.38	)

Net income per diluted common share	$	1.45		$	1.86		$	1.41		$	6.96		$	6.16


Weighted average common shares outstanding (in millions) for:
Basic EPS		573.4			582.3			579.2			579.7			561.1
Diluted EPS		582.6			591.1			585.6			587.6			566.5
Dividends paid per common share	$	0.30		$	0.30		$	0.05		$	0.95		$	0.20

Page 3

CAPITAL ONE FINANCIAL CORPORATION (COF)

Table 4: Consolidated Balance Sheets⁽¹⁾


	December 31,			September 30,			December 31,
*(Dollars in millions)(unaudited)*	2013			2013			2012
Assets:
Cash and cash equivalents:
Cash and due from banks	$	2,821		$	2,855		$	3,440
Interest-bearing deposits with banks		3,131			2,481			7,617
Federal funds sold and securities purchased under agreements to resell		339			382			1

Total cash and cash equivalents		6,291			5,718			11,058
Restricted cash for securitization investors		874			390			428
Securities available for sale, at fair value		41,800			43,132			63,979
Securities held to maturity, at carrying value		19,132			18,276			9
Loans held for investment:
Unsecuritized loans held for investment		157,651			152,332			162,059
Restricted loans for securitization investors		39,548			39,482			43,830

Total loans held for investment		197,199			191,814			205,889
Less: Allowance for loan and lease losses		(4,315	)		(4,333	)		(5,156	)

Net loans held for investment		192,884			187,481			200,733
Loans held for sale, at lower of cost or fair value		218			180			201
Premises and equipment, net		3,839			3,792			3,587
Interest receivable		1,418			1,304			1,694
Goodwill		13,978			13,906			13,904
Other		16,614			15,709			17,325

Total assets	$	297,048		$	289,888		$	312,918


Liabilities:
Interest payable	$	307		$	276		$	450
Customer deposits:
Non-interest bearing deposits		22,643			22,281			22,467
Interest-bearing deposits		181,880			184,553			190,018

Total customer deposits		204,523			206,834			212,485
Securitized debt obligations		10,289			9,544			11,398
Other debt:
Federal funds purchased and securities loaned or sold under agreements to repurchase		915			1,686			1,248
Senior and subordinated notes		13,134			12,395			12,686
Other borrowings		16,316			8,220			24,578

Total other debt		30,365			22,301			38,512
Other liabilities		9,820			9,183			9,574

Total liabilities		255,304			248,138			272,419


Stockholders’ equity:
Preferred stock		—			—			—
Common stock		6			6			6
Additional paid-in capital, net		26,526			26,426			26,188
Retained earnings		20,404			19,731			16,853
Accumulated other comprehensive income (“AOCI”)		(872	)		(839	)		739
Treasury stock, at cost		(4,320	)		(3,574	)		(3,287	)

Total stockholders’ equity		41,744			41,750			40,499

Total liabilities and stockholders’ equity	$	297,048		$	289,888		$	312,918

Page 4

CAPITAL ONE FINANCIAL CORPORATION (COF)

Table 5: Notes to Financial & Selected Metrics and Consolidated Financial Statements (Tables 1 — 4)

⁽¹⁾	Certain prior period amounts have been reclassified to conform to the current period presentation.

⁽²⁾

We recorded a provision for mortgage representation and warranty losses of $33 million in Q4 2013, $183 million in Q2 2013 and $97 million in Q1 2013. We recorded a benefit for mortgage representation and warranty losses of $4 million in Q3 2013. We did not record a provision for mortgage representation and warranty losses in Q4 2012. The majority of the provision for representation and warranty losses is generally included net of tax in discontinued operations, with the remaining amount included pre-tax in non-interest income. The mortgage representation and warranty reserve was $1.2 billion as of both December 31, 2013 and September 30, 2013, and $899 million as of December 31, 2012.

⁽³⁾	Total net revenue was reduced by $185 million in Q4 2013, $154 million in Q3 2013, $192 million in Q2 2013, $265 million in Q1 2013 and $318 million in Q4 2012 for the estimated uncollectible amount of billed finance charges and fees.

⁽⁴⁾

Includes purchased credit card relationship (“PCCR”) intangible amortization of $102 million in Q4 2013, $106 million in Q3 2013, $110 million in Q2 2013, $116 million in Q1 2013 and $127 million in Q4 2012, the substantial majority of which is attributable to the 2012 U.S. card acquisition. Includes core deposit intangible amortization of $38 million in Q4 2013, $40 million in Q3 2013, $43 million in Q2 2013, $44 million in Q1 2013 and $47 million in Q4 2012.

⁽⁵⁾	Acquisition-related costs include transaction costs, legal and other professional or consulting fees, restructuring costs, and integration expense.

⁽⁶⁾	Dividends and undistributed earnings allocated to participating securities, earnings per share, and preferred stock dividends are computed independently for each period. Accordingly, the sum of each quarter may not agree to the year-to-date total.

⁽⁷⁾	Tangible book value per common share is a non-GAAP measure calculated based on tangible common equity divided by common shares outstanding. See “Table 13: Reconciliation of Non-GAAP Measures and Calculation of Regulatory Capital Measures Under Basel I” for additional information.

⁽⁸⁾

Loans held for investment includes acquired loans accounted for based on cash flows expected to be collected. We use the term “acquired loans” to refer to a limited portion of the credit card loans acquired in the 2012 U.S. card acquisition and the substantial majority of loans acquired in the ING Direct and Chevy Chase Bank acquisitions, which were recorded at fair value at acquisition and subsequently accounted for based on estimated cash flows expected to be collected over the life of the loans (under the accounting standard formerly known as “SOP 03-3”). See “Table 12: Notes to Loan and Business Segment Disclosures (Tables 7-11)” for information on the amount of acquired loans for each of the periods presented.

⁽⁹⁾	Calculated based on annualized total net revenue for the period divided by average interest-earning assets for the period.

⁽¹⁰⁾	Calculated based on annualized net interest income for the period divided by average interest-earning assets for the period.

⁽¹¹⁾	Calculated based on annualized income from continuing operations, net of tax, for the period divided by average total assets for the period.

⁽¹²⁾	Calculated based on annualized income from continuing operations, net of tax, for the period divided average tangible assets for the period. See “Table 13: Reconciliation of Non-GAAP Measures and Calculation of Regulatory Capital Measures Under Basel I” for additional information.

⁽¹³⁾

Calculated based on the annualized sum of (i) income from continuing operations, net of tax; (ii) less dividends and undistributed earnings allocated to participating securities; (iii) less preferred stock dividends, for the period, divided by average common equity for the period. Our calculation of return on average common equity may not be comparable to similarly titled measures reported by other companies.

⁽¹⁴⁾

Calculated based on the annualized sum of (i) income from continuing operations, net of tax; (ii) less dividends and undistributed earnings allocated to participating securities; (iii) less preferred stock dividends, for the period, divided by average tangible common equity for the period. Our calculation of return on average tangible common equity may not be comparable to similarly titled measures reported by other companies. See “Table 13: Reconciliation of Non-GAAP Measures and Calculation of Regulatory Capital Measures Under Basel I” for additional information.

⁽¹⁵⁾	Calculated based on annualized non-interest expense for the period divided by average loans held for investment for the period.

⁽¹⁶⁾	Calculated based on non-interest expense for the period divided by total net revenue for the period.

⁽¹⁷⁾	Calculated based on annualized net charge-offs for the period divided by average loans held for investment for the period.

⁽¹⁸⁾

Capital ratios are calculated under Basel I. Ratios as of the end of Q4 2013 are preliminary and therefore subject to change. TCE ratio is a non-GAAP measure. See “Table 13: Reconciliation of Non-GAAP Measures and Calculation of Regulatory Capital Measures Under Basel I” for information on the calculation of each of these ratios.

⁽¹⁹⁾

A bargain purchase gain of $594 million was recognized in earnings in Q1 2012 attributable to the February 17, 2012 acquisition of ING Direct. The bargain purchase gain represents the excess of the fair value of the net assets acquired in the ING Direct acquisition as of the acquisition date over the consideration transferred.

Page 5

CAPITAL ONE FINANCIAL CORPORATION (COF)

Table 6: Average Balances, Net Interest Income and Net Interest Margin⁽¹⁾


	2013 Q4							2013 Q3							2012 Q4
(Dollars in millions)(unaudited)	Average Balance		Interest Income/ Expense⁽²⁾		Yield/ Rate⁽²⁾			Average Balance		Interest Income/ Expense⁽²⁾		Yield/ Rate⁽²⁾			Average Balance		Interest Income/ Expense⁽²⁾		Yield/ Rate⁽²⁾
Interest-earning assets:
Loans, including loans held for sale	$	193,368	$	4,398		9.10	%	$	195,839	$	4,579		9.35	%	$	203,132	$	4,727		9.31	%
Investment securities⁽³⁾		62,919		414		2.63			63,317		396		2.50			64,174		361		2.25
Cash equivalents and other		6,670		27		1.62			5,640		23		1.63			10,580		27		1.02

Total interest-earning assets	$	262,957	$	4,839		7.36	%	$	264,796	$	4,998		7.55	%	$	277,886	$	5,115		7.36	%


Interest-bearing liabilities:
Interest-bearing deposits	$	184,206	$	288		0.63	%	$	186,752	$	309		0.66	%	$	192,122	$	348		0.72	%
Securitized debt obligations		9,873		40		1.62			10,243		42		1.64			12,119		58		1.91
Senior and subordinated notes		12,765		75		2.35			12,314		76		2.47			11,528		85		2.95
Other borrowings		13,825		13		0.38			13,798		11		0.32			20,542		96		1.87

Total interest-bearing liabilities	$	220,669	$	416		0.75	%	$	223,107	$	438		0.79	%	$	236,311	$	587		0.99	%

Net interest income/spread			$	4,423		6.61	%			$	4,560		6.76	%			$	4,528		6.37	%

Impact of non-interest bearing funding						0.12							0.13							0.15

Net interest margin						6.73	%						6.89	%						6.52	%


	Year Ended December 31,
	2013							2012
(Dollars in millions)(unaudited)	Average Balance		Interest Income/ Expense⁽²⁾		Yield/ Rate⁽²⁾			Average Balance		Interest Income/ Expense⁽²⁾		Yield/ Rate⁽²⁾
Interest-earning assets:
Loans, including loans held for sale	$	196,609	$	18,222		9.27	%	$	188,466	$	17,544		9.31	%
Investment securities⁽³⁾		63,522		1,575		2.48			57,424		1,329		2.31
Cash equivalents and other		6,292		101		1.61			9,189		91		0.99

Total interest-earning assets	$	266,423	$	19,898		7.47	%	$	255,079	$	18,964		7.43	%


Interest-bearing liabilities:
Interest-bearing deposits	$	187,700	$	1,241		0.66	%	$	183,314	$	1,403		0.77	%
Securitized debt obligations		10,697		183		1.71			14,138		271		1.92
Senior and subordinated notes		12,440		315		2.53			11,012		345		3.13
Other borrowings		14,670		53		0.36			12,875		356		2.77

Total interest-bearing liabilities	$	225,507	$	1,792		0.79	%	$	221,339	$	2,375		1.07	%

Net interest income/spread			$	18,106		6.68	%			$	16,589		6.36	%

Impact of non-interest bearing funding						0.12							0.14

Net interest margin						6.80	%						6.50	%

⁽¹⁾	Certain prior period amounts have been reclassified to conform to the current period presentation.

⁽²⁾	Interest income and interest expense and the calculation of average yields on interest-earning assets and average rates on interest-bearing liabilities include the impact of hedge accounting.

⁽³⁾	Prior to Q2 2013, average balances for investment securities were calculated based on fair value amounts. Effective Q2 2013, average balances are calculated based on the amortized cost of investment securities. The impact of this change on prior period yields is not material.

Page 6

CAPITAL ONE FINANCIAL CORPORATION (COF)

Table 7: Loan Information and Performance Statistics⁽¹⁾⁽²⁾


(Dollars in millions)(unaudited)	2013 Q4			2013 Q3			2013 Q2			2013 Q1			2012 Q4
Period-end Loans Held For Investment
Credit card:
Domestic credit card	$	73,255		$	69,936		$	70,490		$	70,361		$	83,141
International credit card		8,050			8,031			7,820			8,036			8,614

Total credit card		81,305			77,967			78,310			78,397			91,755

Consumer banking:
Automobile		31,857			30,803			29,369			27,940			27,123
Home loan		35,282			36,817			39,163			41,931			44,100
Retail banking		3,623			3,665			3,686			3,742			3,904

Total consumer banking		70,762			71,285			72,218			73,613			75,127

Commercial banking:
Commercial and multifamily real estate		20,750			19,523			18,570			17,878			17,732
Commercial and industrial		23,309			21,848			21,170			20,127			19,892

Total commercial lending		44,059			41,371			39,740			38,005			37,624
Small-ticket commercial real estate		952			1,028			1,065			1,145			1,196

Total commercial banking		45,011			42,399			40,805			39,150			38,820

Other loans		121			163			179			173			187

Total	$	197,199		$	191,814		$	191,512		$	191,333		$	205,889

Average Loans Held For Investment
Credit card:
Domestic credit card	$	70,368		$	69,947		$	69,966		$	74,714		$	80,718
International credit card		7,899			7,782			7,980			8,238			8,372

Total credit card		78,267			77,729			77,946			82,952			89,090

Consumer banking:
Automobile		31,424			30,157			28,677			27,477			26,881
Home loan		35,974			37,852			40,532			43,023			45,250
Retail banking		3,635			3,655			3,721			3,786			3,967

Total consumer banking		71,033			71,664			72,930			74,286			76,098

Commercial banking:
Commercial and multifamily real estate		19,928			19,047			18,084			17,454			17,005
Commercial and industrial		22,445			21,491			20,332			19,949			19,344

Total commercial lending		42,373			40,538			38,416			37,403			36,349
Small-ticket commercial real estate		986			1,038			1,096			1,173			1,249

Total commercial banking		43,359			41,576			39,512			38,576			37,598

Other loans		154			166			174			183			158

Total	$	192,813		$	191,135		$	190,562		$	195,997		$	202,944

Net Charge-off Rates
Credit card:
Domestic credit card		3.89	%		3.67	%		4.28	%		4.43	%		4.35	%
International credit card		4.74			4.71			5.08			4.59			3.99

Total credit card		3.98			3.78			4.36			4.45			4.32

Consumer banking:
Automobile		2.30			2.01			1.28			1.78			2.24
Home loan		0.03			0.06			0.03			0.04			(0.06	)
Retail banking		1.09			1.38			1.50			1.85			2.45

Total consumer banking		1.09			0.95			0.60			0.78			0.88

Commercial banking:
Commercial and multifamily real estate		(0.11	)		(0.11	)		0.04			0.01			(0.08	)
Commercial and industrial		0.04			0.18			0.03			0.04			0.13

Total commercial lending		(0.03	)		0.04			0.03			0.03			0.03
Small-ticket commercial real estate		(0.81	)		1.26			0.45			1.41			2.02

Total commercial banking		(0.05	)		0.07			0.04			0.07			0.10

Other loans		4.68			12.17			13.10			14.53			24.23

Total		2.01	%		1.92	%		2.03	%		2.20	%		2.26	%

30+ Day Performing Delinquency Rates
Credit card:
Domestic credit card		3.43	%		3.46	%		3.05	%		3.37	%		3.61	%
International credit card		3.71			3.86			3.84			4.04			3.58

Total credit card		3.46	%		3.51	%		3.13	%		3.44	%		3.61	%

Consumer banking:
Automobile		6.85	%		6.29	%		6.03	%		5.58	%		7.00	%
Home loan		0.16			0.14			0.12			0.14			0.13
Retail banking		0.69			0.68			0.68			0.83			0.76

Total consumer banking		3.20	%		2.82	%		2.55	%		2.24	%		2.65	%

Nonperforming Asset Rates⁽³⁾
Credit card:
International credit card		1.10	%		1.16	%		1.20	%		1.13	%		1.16	%

Total credit card		0.11	%		0.12	%		0.12	%		0.12	%		0.11	%

Consumer banking:
Automobile⁽¹⁰⁾		1.11	%		0.92	%		0.81	%		0.71	%		0.95	%
Home loan		1.14			1.08			1.08			1.02			1.00
Retail banking		1.13			1.10			1.11			1.24			1.85

Total consumer banking		1.12	%		1.01	%		0.97	%		0.91	%		1.02	%

Commercial banking:
Commercial and multifamily real estate		0.29	%		0.40	%		0.56	%		0.76	%		0.82	%
Commercial and industrial		0.44			0.65			0.65			0.64			0.72

Total commercial lending		0.37	%		0.53	%		0.61	%		0.69	%		0.77	%
Small-ticket commercial real estate		0.43			1.49			1.11			2.42			0.97

Total commercial banking		0.37	%		0.56	%		0.62	%		0.74	%		0.77	%

Page 7

CAPITAL ONE FINANCIAL CORPORATION (COF)

Table 8: Financial & Statistical Summary—Credit Card Business⁽¹⁾⁽²⁾


(Dollars in millions) (unaudited)	2013 Q4			2013 Q3			2013 Q2			2013 Q1			2012 Q4
Credit Card
Earnings:
Net interest income	$	2,576		$	2,757		$	2,804		$	2,830		$	2,849
Non-interest income		833			834			832			821			883

Total net revenue		3,409			3,591			3,636			3,651			3,732
Provision for credit losses		751			617			713			743			1,000
Non-interest expense		1,868			1,904			1,819			1,848			1,933

Income from continuing operations before taxes		790			1,070			1,104			1,060			799
Income tax provision		274			376			385			374			279

Income from continuing operations, net of tax	$	516		$	694		$	719		$	686		$	520

Selected performance metrics:
Period-end loans held for investment	$	81,305		$	77,967		$	78,310		$	78,397		$	91,755
Average loans held for investment		78,267			77,729			77,946			82,952			89,090
Average yield on loans held for investment⁽⁴⁾		14.64	%		15.72	%		15.94	%		15.16	%		14.33	%
Total net revenue margin⁽⁵⁾		17.43			18.48			18.66			17.61			16.76
Net charge-off rate		3.98			3.78			4.36			4.45			4.32
30+ day performing delinquency rate		3.46			3.51			3.13			3.44			3.61
30+ day delinquency rate		3.54			3.60			3.22			3.53			3.69
Nonperforming loan rate⁽³⁾		0.11			0.12			0.12			0.12			0.11
Card loan premium amortization and other intangible accretion⁽⁶⁾	$	39		$	45		$	57		$	57		$	65
PCCR intangible amortization		102			106			110			116			127
Purchase volume⁽⁷⁾		54,245			50,943			50,788			45,098			52,853
Domestic Card
Earnings:
Net interest income	$	2,303		$	2,492		$	2,536		$	2,556		$	2,583
Non-interest income		747			749			737			724			798

Total net revenue		3,050			3,241			3,273			3,280			3,381
Provision for credit losses		679			529			647			647			911
Non-interest expense		1,664			1,713			1,635			1,633			1,727

Income from continuing operations before taxes		707			999			991			1,000			743
Income tax provision		252			355			353			356			263

Income from continuing operations, net of tax	$	455		$	644		$	638		$	644		$	480

Selected performance metrics:
Period-end loans held for investment	$	73,255		$	69,936		$	70,490		$	70,361		$	83,141
Average loans held for investment		70,368			69,947			69,966			74,714			80,718
Average yield on loans held for investment⁽⁴⁾		14.44	%		15.65	%		15.91	%		15.07	%		14.20	%
Total net revenue margin⁽⁵⁾		17.34			18.53			18.71			17.56			16.75
Net charge-off rate		3.89			3.67			4.28			4.43			4.35
30+ day performing delinquency rate		3.43			3.46			3.05			3.37			3.61
30+ day delinquency rate		3.43			3.46			3.05			3.37			3.61
Purchase volume⁽⁷⁾	$	50,377		$	47,420		$	47,273		$	41,831		$	48,918
International Card
Earnings:
Net interest income	$	273		$	265		$	268		$	274		$	266
Non-interest income		86			85			95			97			85

Total net revenue		359			350			363			371			351
Provision for credit losses		72			88			66			96			89
Non-interest expense		204			191			184			215			206

Income from continuing operations before taxes		83			71			113			60			56
Income tax provision		22			21			32			18			16

Income from continuing operations, net of tax	$	61		$	50		$	81		$	42		$	40

Selected performance metrics:
Period-end loans held for investment	$	8,050		$	8,031		$	7,820		$	8,036		$	8,614
Average loans held for investment		7,899			7,782			7,980			8,238			8,372
Average yield on loans held for investment		16.48	%		16.35	%		16.19	%		15.97	%		15.59	%
Total net revenue margin		18.20			17.99			18.20			18.01			16.77
Net charge-off rate		4.74			4.71			5.08			4.59			3.99
30+ day performing delinquency rate		3.71			3.86			3.84			4.04			3.58
30+ day delinquency rate		4.56			4.78			4.79			4.93			4.49
Nonperforming loan rate⁽³⁾		1.10			1.16			1.20			1.13			1.16
Purchase volume⁽⁷⁾	$	3,868		$	3,523		$	3,515		$	3,267		$	3,935

Page 8

CAPITAL ONE FINANCIAL CORPORATION (COF)

Table 9: Financial & Statistical Summary—Consumer Banking Business⁽¹⁾⁽²⁾


*(Dollars in millions) (unaudited)*	2013 Q4			2013 Q3			2013 Q2			2013 Q1			2012 Q4
Consumer Banking
Earnings:
Net interest income	$	1,468		$	1,481		$	1,478		$	1,478		$	1,503
Non-interest income		195			184			189			181			161

Total net revenue		1,663			1,665			1,667			1,659			1,664
Provision for credit losses		212			202			67			175			169
Non-interest expense		1,018			927			910			890			992

Income from continuing operations before taxes		433			536			690			594			503
Income tax provision		154			191			246			211			178

Income from continuing operations, net of tax	$	279		$	345		$	444		$	383		$	325


Selected performance metrics:
Period-end loans held for investment	$	70,762		$	71,285		$	72,218		$	73,613		$	75,127
Average loans held for investment		71,033			71,664			72,930			74,286			76,098
Average yield on loans held for investment		6.30	%		6.21	%		5.99	%		5.93	%		5.94	%
Auto loan originations	$	4,322		$	4,752		$	4,525		$	3,789		$	3,479
Period-end deposits		167,652			168,437			169,789			172,605			172,396
Average deposits		167,870			169,082			170,733			171,089			172,654
Deposit interest expense rate		0.60	%		0.63	%		0.64	%		0.64	%		0.68	%
Core deposit intangible amortization	$	32		$	34		$	35		$	37		$	39
Net charge-off rate		1.09	%		0.95	%		0.60	%		0.78	%		0.88	%
30+ day performing delinquency rate		3.20			2.82			2.55			2.24			2.65
30+ day delinquency rate		3.89			3.46			3.15			2.81			3.34
Nonperforming loan rate⁽³⁾		0.86			0.79			0.78			0.74			0.85
Nonperforming asset rate^(3)(10)		1.12			1.01			0.97			0.91			1.02
Period-end loans serviced for others	$	7,665		$	14,043		$	14,313		$	14,869		$	15,333

Page 9

CAPITAL ONE FINANCIAL CORPORATION (COF)

Table 10: Financial & Statistical Summary—Commercial Banking Business⁽¹⁾⁽²⁾


(Dollars in millions) (unaudited)	2013 Q4			2013 Q3			2013 Q2			2013 Q1			2012 Q4
Commercial Banking
Earnings:
Net interest income	$	504		$	480		$	457		$	454		$	450
Non-interest income		131			87			93			84			86

Total net revenue⁽⁸⁾		635			567			550			538			536
Provision for credit losses		(6	)		31			(14	)		(35	)		(20	)
Non-interest expense		326			266			269			258			294

Income from continuing operations before taxes		315			270			295			315			262
Income tax provision		113			96			105			112			93

Income from continuing operations, net of tax	$	202		$	174		$	190		$	203		$	169


Selected performance metrics:
Period-end loans held for investment	$	45,011		$	42,399		$	40,805		$	39,150		$	38,820
Average loans held for investment		43,359			41,576			39,512			38,576			37,598
Average yield on loans held for investment⁽⁸⁾		3.92	%		3.87	%		3.84	%		3.91	%		4.15	%
Period-end deposits	$	30,567		$	30,592		$	30,869		$	30,275		$	29,866
Average deposits		31,033			30,685			30,746			30,335			29,476
Deposit interest expense rate		0.25	%		0.27	%		0.26	%		0.28	%		0.28	%
Core deposit intangible amortization	$	6		$	6		$	8		$	7		$	8
Net charge-off rate		(0.05	)%		0.07	%		0.04	%		0.07	%		0.10	%
Nonperforming loan rate⁽³⁾		0.33			0.47			0.60			0.71			0.73
Nonperforming asset rate⁽³⁾		0.37			0.56			0.62			0.74			0.77

Risk category:⁽⁹⁾
Noncriticized	$	43,593		$	40,940		$	39,168		$	37,359		$	36,839
Criticized performing		1,007			968			1,087			1,191			1,340
Criticized nonperforming		149			201			244			277			282

Total risk-rated loans		44,749			42,109			40,499			38,827			38,461
Acquired commercial loans		262			290			306			323			359

Total commercial loans	$	45,011		$	42,399		$	40,805		$	39,150		$	38,820


% of period-end commercial loans held for investment:
Noncriticized		96.9	%		96.5	%		96.0	%		95.4	%		94.9	%
Criticized performing		2.2			2.3			2.7			3.1			3.5
Criticized nonperforming		0.3			0.5			0.6			0.7			0.7

Total risk-rated loans		99.4			99.3			99.3			99.2			99.1
Acquired commercial loans		0.6			0.7			0.7			0.8			0.9

Total commercial loans		100.0	%		100.0	%		100.0	%		100.0	%		100.0	%

Page 10

CAPITAL ONE FINANCIAL CORPORATION (COF)

Table 11: Financial & Statistical Summary—Other and Total⁽¹⁾⁽²⁾


(Dollars in millions) (unaudited)	2013 Q4			2013 Q3			2013 Q2			2013 Q1			2012 Q4
Other
Earnings:
Net interest expense	$	(125	)	$	(158	)	$	(186	)	$	(192	)	$	(274	)
Non-interest income		(38	)		(14	)		(29	)		(105	)		(34	)

Total net revenue		(163	)		(172	)		(215	)		(297	)		(308	)
Provision for credit losses		—			(1	)		(4	)		2			2
Non-interest expense		68			50			61			32			36

Loss from continuing operations before taxes		(231	)		(221	)		(272	)		(331	)		(346	)
Income tax benefit		(116	)		(138	)		(155	)		(203	)		(180	)

Loss from continuing operations, net of tax	$	(115	)	$	(83	)	$	(117	)	$	(128	)	$	(166	)


Selected performance metrics:
Period-end loans held for investment	$	121		$	163		$	179		$	173		$	187
Average loans held for investment		154			166			174			183			158
Period-end deposits		6,304			7,805			9,207			9,530			10,223
Average deposits		6,803			8,573			9,171			10,131			11,364
Total
Earnings:
Net interest income	$	4,423		$	4,560		$	4,553		$	4,570		$	4,528
Non-interest income		1,121			1,091			1,085			981			1,096

Total net revenue		5,544			5,651			5,638			5,551			5,624
Provision for credit losses		957			849			762			885			1,151
Non-interest expense		3,280			3,147			3,059			3,028			3,255

Income from continuing operations before taxes		1,307			1,655			1,817			1,638			1,218
Income tax provision		425			525			581			494			370

Income from continuing operations, net of tax	$	882		$	1,130		$	1,236		$	1,144		$	848


Selected performance metrics:
Period-end loans held for investment	$	197,199		$	191,814		$	191,512		$	191,333		$	205,889
Average loans held for investment		192,813			191,135			190,562			195,997			202,944
Period-end deposits		204,523			206,834			209,865			212,410			212,485
Average deposits		205,706			208,340			210,650			211,555			213,494

Page 11

CAPITAL ONE FINANCIAL CORPORATION (COF)

Table 12: Notes to Loan and Business Segment Disclosures (Tables 7 — 11)

⁽¹⁾	Certain prior period amounts have been reclassified to conform to the current period presentation.

⁽²⁾

Loans acquired as part of the ING Direct, Chevy Chase Bank and 2012 U.S. card acquisitions are included in the denominator used in calculating our reported credit quality metrics. We therefore present certain reported credit quality metrics, adjusted to exclude from the denominator acquired loans accounted for based on estimated cash flows expected to be collected over the life of the loans (formerly “SOP 03-3”). The table below presents amounts related to acquired loans accounted for under SOP 03-3.


*(Dollars in millions) (unaudited)*	2013 Q4		2013 Q3		2013 Q2		2013 Q1		2012 Q4
Acquired loans accounted for under SOP 03-3:
Period-end unpaid principal balance	$	29,761	$	31,377	$	33,620	$	36,216	$	38,477
Period-end loans held for investment		28,550		30,080		32,275		34,943		37,134
Average loans held for investment		29,055		30,713		33,144		35,706		37,899

⁽³⁾

Nonperforming assets consist of nonperforming loans, real estate owned (“REO”) and other foreclosed assets. The nonperforming asset ratios are calculated based on nonperforming assets for each category divided by the combined period-end total of loans held for investment, REO and other foreclosed assets for each respective category. The nonperforming loan ratios are calculated based on nonperforming loans for each category divided by period-end loans held for investment for each respective category.

⁽⁴⁾

The transfer of the Best Buy Stores, L.P. (“Best Buy”) portfolio to held for sale resulted in an increase in the average yield for Domestic Card and Total Credit Card of 121 basis points and 110 basis points, respectively, in Q3 2013, 168 basis points and 152 basis points, respectively, in Q2 2013 and 107 basis points and 97 basis points, respectively, in Q1 2013. The sale of the Best Buy portfolio was completed on September 6, 2013.

⁽⁵⁾

The transfer of the Best Buy portfolio to held for sale resulted in an increase in the net revenue margin for Domestic Card and Total Credit Card of 136 basis points and 123 basis points, respectively, in Q3 2013, 188 basis points and 169 basis points, respectively, in Q2 2013 and 123 basis points and 112 basis points, respectively, in Q1 2013. The sale of the Best Buy portfolio was completed on September 6, 2013.

⁽⁶⁾	Represents the net reduction in interest income attributable to non-SOP 03-3 card loan premium amortization and other intangible accretion associated with the 2012 U.S. card acquisition.

⁽⁷⁾	Includes credit card purchase transactions, net of returns for both loans classified as held for investment and held for sale. Excludes cash advance and balance transfer transactions.

⁽⁸⁾

Because some of our tax-related commercial investments generate tax-exempt income or tax credits, we make certain reclassifications within our Commercial Banking business results to present revenues and yields on a taxable-equivalent basis, calculated assuming an effective tax rate approximately equal to our federal statutory tax rate of 35%.

⁽⁹⁾	Criticized exposures correspond to the “Special Mention,” “Substandard” and “Doubtful” asset categories defined by bank regulatory authorities.

⁽¹⁰⁾

As reported in the third quarter 2013 Form 10-Q, we have begun including the net realizable value of auto loans that have been charged down as a result of a bankruptcy filing in addition to repossessed assets obtained in satisfaction of auto loans. Prior period amounts have been adjusted to conform to current period presentation.

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CAPITAL ONE FINANCIAL CORPORATION (COF)

Table 13: Reconciliation of Non-GAAP Measures and Calculation of Regulatory Capital Measures Under Basel I

In addition to disclosing regulatory capital measures under Basel I, we also report certain non-GAAP measures that management uses in assessing its capital adequacy. These non-GAAP measures include average tangible assets, average tangible common equity, tangible common equity (“TCE”) and TCE ratio. The table below provides the details of the calculation of our Basel I regulatory capital and non-GAAP measures. While our non-GAAP measures are widely used by investors, analysts and bank regulatory agencies to assess the capital position of financial services companies, they may not be comparable to similarly titled measures reported by other companies.


	2013			2013			2013			2013			2012
(Dollars in millions)(unaudited)	Q4			Q3			Q2			Q1			Q4
Average Equity to Non-GAAP Average Tangible Common Equity
Average total stockholders’ equity	$	42,463		$	41,284		$	41,579		$	40,960		$	40,212
Adjustments: Average goodwill and other intangible assets ⁽¹⁾		(16,564	)		(15,829	)		(15,974	)		(16,141	)		(16,340	)
Noncumulative perpetual preferred stock⁽²⁾		(853	)		(853	)		(853	)		(853	)		(853	)

Average tangible common equity⁽³⁾	$	25,046		$	24,602		$	24,752		$	23,966		$	23,019

Stockholders’ Equity to Non-GAAP Tangible Common Equity
Total stockholders’ equity	$	41,744		$	41,750		$	41,041		$	41,296		$	40,499
Adjustments: Goodwill and other intangible assets ⁽¹⁾		(16,568	)		(15,760	)		(15,872	)		(15,992	)		(16,224	)
Noncumulative perpetual preferred stock⁽²⁾		(853	)		(853	)		(853	)		(853	)		(853	)

Tangible common equity⁽³⁾	$	24,323		$	25,137		$	24,316		$	24,451		$	23,422

Total Assets to Tangible Assets
Total assets	$	297,048		$	289,888		$	296,542		$	300,163		$	312,918
Adjustments: Goodwill and other intangible assets⁽¹⁾		(16,568	)		(15,760	)		(15,872	)		(15,992	)		(16,224	)

Tangible assets	$	280,480		$	274,128		$	280,670		$	284,171		$	296,694

Total Average Assets to Average Tangible Assets
Average total assets	$	294,108		$	294,939		$	297,766		$	303,223		$	308,096
Adjustments: Average goodwill and other intangible assets ⁽¹⁾		(16,564	)		(15,829	)		(15,974	)		(16,141	)		(16,340	)

Average tangible assets	$	277,544		$	279,110		$	281,792		$	287,082		$	291,756

Non-GAAP TCE Ratio
TCE ratio⁽³⁾		8.7	%		9.2	%		8.7	%		8.6	%		7.9	%
Regulatory Capital Ratios⁽⁴⁾
Total stockholders’ equity	$	41,744		$	41,750		$	41,041		$	41,296		$	40,499
Adjustments: Net unrealized (gains) losses on AFS securities recorded in AOCI⁽⁵⁾		791			736			503			(583	)		(712	)
Net losses on cash flow hedges recorded in AOCI⁽⁵⁾		136			123			175			15			2
Disallowed goodwill and other intangible assets		(14,326	)		(14,263	)		(14,309	)		(14,361	)		(14,428	)
Disallowed deferred tax assets		—			—			—			—			—
Noncumulative perpetual preferred stock⁽²⁾		(853	)		(853	)		(853	)		(853	)		(853	)
Other		(5	)		(5	)		(5	)		(4	)		(12	)

Tier 1 common capital		27,487			27,488			26,552			25,510			24,496
Adjustments: Noncumulative perpetual preferred stock⁽²⁾		853			853			853			853			853
Tier 1 restricted core capital items⁽⁶⁾		2			2			2			1			2

Tier 1 capital		28,342			28,343			27,407			26,364			25,351

Adjustments: Long-term debt qualifying as Tier 2 capital		1,914			1,909			2,104			2,121			2,119
Qualifying allowance for loan and lease losses		2,841			2,726			2,781			2,738			2,830
Other Tier 2 components		10			8			12			11			13

Tier 2 capital		4,765			4,643			4,897			4,870			4,962

Total risk-based capital⁽⁷⁾	$	33,107		$	32,986		$	32,304		$	31,234		$	30,313

Risk-weighted assets⁽⁸⁾	$	225,199		$	215,829		$	220,166		$	216,458		$	223,472

Tier 1 common ratio⁽⁹⁾		12.2	%		12.7	%		12.1	%		11.8	%		11.0	%
Tier 1 risk-based capital ratio⁽¹⁰⁾		12.6			13.1			12.4			12.2			11.3
Total risk-based capital ratio⁽¹¹⁾		14.7			15.3			14.7			14.4			13.6

⁽¹⁾	Includes impact from related deferred taxes.

⁽²⁾	Noncumulative perpetual preferred stock qualifies for Tier 1 capital; however, it is excluded from Tier 1 common capital.

⁽³⁾	TCE ratio is a non-GAAP measure calculated based on tangible common equity divided by tangible assets.

⁽⁴⁾	Regulatory capital ratios as of the end of Q4 2013 are preliminary and therefore subject to change.

⁽⁵⁾	Amounts presented are net of tax.

⁽⁶⁾	Consists primarily of trust preferred securities.

⁽⁷⁾	Total risk-based capital equals the sum of Tier 1 capital and Tier 2 capital.

⁽⁸⁾	Calculated based on prescribed regulatory guidelines.

⁽⁹⁾	Tier 1 common ratio is a regulatory capital measure calculated based on Tier 1 common capital divided by risk-weighted assets.

⁽¹⁰⁾	Tier 1 risk-based capital ratio is a regulatory capital measure calculated based on Tier 1 capital divided by risk-weighted assets.

⁽¹¹⁾	Total risk-based capital ratio is a regulatory capital measure calculated based on total risk-based capital divided by risk-weighted assets.

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CAPITAL ONE FINANCIAL CORP - FORM 8-K - EX-99.2 - January 16, 2014

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