XML 50 R36.htm IDEA: XBRL DOCUMENT v3.25.2

Fair Value Measurement (Tables)

6 Months Ended

Jun. 30, 2025

Fair Value Disclosures [Abstract]

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table displays our assets and liabilities of continuing operations measured on our consolidated balance sheets at fair value on a recurring basis as of June 30, 2025 and December 31, 2024.

Table 12.1: Assets and Liabilities Measured at Fair Value on a Recurring Basis

						June 30, 2025
						Fair Value Measurements Using																		Netting Adjustments(1)
(Dollars in millions)						Level 1						Level 2						Level 3												Total
Assets:
Securities available for sale:
U.S. Treasury securities						$	8,409					$	0					$	0					$	0					$	8,409
RMBS						0						66,795						142						0						66,937
CMBS						0						8,440						0						0						8,440
Other securities						136						3,274						0						0						3,410
Total securities available for sale						8,545						78,509						142						0						87,196
Loans held for sale						0						152						0						0						152
Other assets:
Derivative assets(2)						740						1,161						518						(532)						1,887
Other(3)						759						0						29						0						788
Total assets						$	10,044					$	79,822					$	689					$	(532)					$	90,023
Liabilities:
Other liabilities:
Derivative liabilities(2)						$	557					$	1,495					$	410					$	(776)					$	1,686
Total liabilities						$	557					$	1,495					$	410					$	(776)					$	1,686

						December 31, 2024
						Fair Value Measurements Using																		Netting Adjustments(1)
(Dollars in millions)						Level 1						Level 2						Level 3												Total
Assets:
Securities available for sale:
U.S. Treasury securities						$	6,110					$	0					$	0					$	0					$	6,110
RMBS						0						65,212						116						0						65,328
CMBS						0						7,823						2						0						7,825
Other securities						123						3,627						0						0						3,750
Total securities available for sale						6,233						76,662						118						0						83,013
Loans held for sale						0						87						0						0						87
Other assets:
Derivative assets(2)						510						1,039						683						(1,056)						1,176
Other(3)						689						0						34						0						723
Total assets						$	7,432					$	77,788					$	835					$	(1,056)					$	84,999
Liabilities:
Other liabilities:
Derivative liabilities(2)						$	384					$	1,034					$	614					$	(304)					$	1,728
Total liabilities						$	384					$	1,034					$	614					$	(304)					$	1,728

__________

(1)Represents balance sheet netting of derivative assets and liabilities, and related payables and receivables for cash collateral held or placed with the same counterparty. See “Note 9—Derivative Instruments and Hedging Activities” for additional information.

(2)Does not reflect approximately $5 million and $1 million recognized as a net valuation allowance on derivative assets and liabilities for non-performance risk as of June 30, 2025 and December 31, 2024, respectively. Non-performance risk is included in the measurement of derivative assets and liabilities on our consolidated balance sheets, and is recorded through non-interest income in the consolidated statements of income.

(3)As of June 30, 2025 and December 31, 2024, other includes retained interests in securitizations of $29 million and $34 million, deferred compensation plan assets of $759 million and $688 million, respectively, and equity securities of $1 million as of December 31, 2024.

Schedule of Level 3 Inputs Reconciliation

The table below presents a reconciliation for all assets and liabilities of continuing operations measured and recognized at fair value on a recurring basis using significant unobservable inputs (Level 3) for the three and six months ended June 30, 2025 and 2024. Generally, transfers into Level 3 were primarily driven by the usage of unobservable assumptions in the pricing of these financial instruments as evidenced by wider pricing variations among pricing vendors and transfers out of Level 3 were primarily driven by the usage of assumptions corroborated by market observable information as evidenced by tighter pricing among multiple pricing sources.

Table 12.2: Level 3 Recurring Fair Value Rollforward

						Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
						Three Months Ended June 30, 2025
												Total Gains (Losses) (Realized/Unrealized)																																																						Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of June 30, 2025(1)
(Dollars in millions)						Balance, April 1, 2025						Included in Net Income(1)						Included in OCI						Purchases						Sales						Issuances						Settlements						Transfers Into Level 3						Transfers Out of Level 3						Balance, June 30, 2025
Securities available for sale:(2)
RMBS						$	143					$	2					$	0					$	0					$	0					$	0					$	(4)					$	1					$	0					$	142					$	2
CMBS						2						0						0						0						(1)						0						(1)						0						0						0						0
Total securities available for sale						145						2						0						0						(1)						0						(5)						1						0						142						2
Other assets:
Retained interests in securitizations						32						(3)						0						0						0						0						0						0						0						29						(2)
Net derivative assets (liabilities)(3)						89						3						0						0						0						10						6						0						0						108						3

						Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
						Six Months Ended June 30, 2025
												Total Gains (Losses) (Realized/Unrealized)																																																						Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of June 30, 2025(1)
(Dollars in millions)						Balance, January 1, 2025						Included in Net Income(1)						Included in OCI						Purchases						Sales						Issuances						Settlements						Transfers Into Level 3						Transfers Out of Level 3						Balance, June 30, 2025
Securities available for sale:(2)
RMBS						$	116					$	4					$	3					$	0					$	0					$	0					$	(7)					$	26					$	0					$	142					$	4
CMBS						2						0						0						0						(1)						0						(1)						0						0						0						0
Total securities available for sale						118						4						3						0						(1)						0						(8)						26						0						142						4
Other assets:
Retained interests in securitizations						34						(5)						0						0						0						0						0						0						0						29						(5)
Net derivative assets (liabilities)(3)						69						16						0						0						0						24						(1)						0						0						108						14

						Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
						Three Months Ended June 30, 2024
												Total Gains (Losses) (Realized/Unrealized)																																																						Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of June 30, 2024(1)
(Dollars in millions)						Balance, April 1, 2024						Included in Net Income(1)						Included in OCI						Purchases						Sales						Issuances						Settlements						Transfers Into Level 3						Transfers Out of Level 3						Balance, June 30, 2024
Securities available for sale:(2)
RMBS						$	309					$	2					$	(3)					$	0					$	0					$	0					$	(2)					$	3					$	(5)					$	304					$	2
CMBS						129						0						(1)						0						0						0						(2)						0						(124)						2						0
Total securities available for sale						438						2						(4)						0						0						0						(4)						3						(129)						306						2
Other assets:
Retained interests in securitizations						35						(1)						0						0						0						0						0						0						0						34						(1)
Net derivative assets (liabilities)(3)						54						(3)						0						0						0						2						16						0						0						69						0

						Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
						Six Months Ended June 30, 2024
												Total Gains (Losses) (Realized/Unrealized)																																																						Net Unrealized Gains (Losses) Included in Net Income Related to Assets and Liabilities Still Held as of June 30, 2024(1)
(Dollars in millions)						Balance, January 1, 2024						Included in Net Income(1)						Included in OCI						Purchases						Sales						Issuances						Settlements						Transfers Into Level 3						Transfers Out of Level 3						Balance, June 30, 2024
Securities available for sale:(2)
RMBS						$	146					$	4					$	(3)					$	0					$	0					$	0					$	(5)					$	185					$	(23)					$	304					$	4
CMBS						132						0						(3)						0						0						0						(3)						0						(124)						2						0
Total securities available for sale						278						4						(6)						0						0						0						(8)						185						(147)						306						4
Other assets:
Retained interests in securitizations						35						(1)						0						0						0						0						0						0						0						34						(1)
Net derivative assets (liabilities)(3)						58						3						0						0						0						(3)						11						0						0						69						1

__________

(1)Realized gains (losses) on securities available for sale are included in net securities gains (losses) and retained interests in securitizations are reported as a component of non-interest income in our consolidated statements of income. Gains (losses) on derivatives are included as a component of net interest income or non-interest income in our consolidated statements of income.

(2)For the three and six months ended June 30, 2025 included in OCI related to Level 3 securities available for sale still held as of June 30, 2025 were net unrealized gain of $4 million. For the three and six months ended June 30, 2024, and included in OCI related to Level 3 securities available for sale still held as of June 30, 2024 were net unrealized losses of $2 million and $9 million.

(3)Includes derivative assets and liabilities of $518 million and $410 million, respectively, as of June 30, 2025 and $909 million and $840 million, respectively, as of June 30, 2024.

Schedule of Assets and Liabilities Measured at Fair Value on Recurring Basis Quantitative Information

The following table presents the significant unobservable inputs used to determine the fair values of our Level 3 financial instruments on a recurring basis. We utilize multiple vendor pricing services to obtain fair value for our securities. Several of our vendor pricing services are only able to provide unobservable input information for a limited number of securities due to software licensing restrictions. Other vendor pricing services are able to provide unobservable input information for all securities for which they provide a valuation. As a result, the unobservable input information for the securities available for sale presented below represents a composite summary of all information we are able to obtain. The unobservable input information for all other Level 3 financial instruments is based on the assumptions used in our internal valuation models.

Table 12.3: Quantitative Information about Level 3 Fair Value Measurements

Quantitative Information about Level 3 Fair Value Measurements

(Dollars in millions)

Fair Value at June 30, 2025

Significant Valuation Techniques

Significant Unobservable Inputs

Range

Weighted Average(1)

Securities available for sale:

RMBS

$

142

Discounted cash flows (vendor pricing)

Yield Voluntary prepayment rate Default rate Loss severity

5-10% 0-12% 0-6% 0-80%

6% 7% 1% 56%

CMBS

0

Discounted cash flows (vendor pricing)

Yield

4%

4%

Other assets:

Retained interests in securitizations(2)

29

Discounted cash flows

Life of receivables (months) Voluntary prepayment rate Discount rate Default rate Loss severity

40-75 7% 5-14% 1% 49%

N/A

Net derivative assets (liabilities)

108

Discounted cash flows

Swap rates

3-4%

3%

Quantitative Information about Level 3 Fair Value Measurements

(Dollars in millions)

Fair Value at December 31, 2024

Significant Valuation Techniques

Significant Unobservable Inputs

Range

Weighted Average(1)

Securities available for sale:

RMBS

$

116

Discounted cash flows (vendor pricing)

Yield Voluntary prepayment rate Default rate Loss severity

6-10% 0-12% 0-6% 25-80%

6% 7% 1% 61%

CMBS

2

Discounted cash flows (vendor pricing)

Yield

5-7%

7%

Other assets:

Retained interests in securitizations(2)

34

Discounted cash flows

Life of receivables (months) Voluntary prepayment rate Discount rate Default rate Loss severity

31-81 7-9% 5-15% 1% 44-155%

N/A

Net derivative assets (liabilities)

69

Discounted cash flows

Swap rates

4%

4%

__________

(1)Weighted averages are calculated by using the product of the input multiplied by the relative fair value of the instruments.

(2)Due to the nature of the various mortgage securitization structures in which we have retained interests, it is not meaningful to present a consolidated weighted average for the significant unobservable inputs.

Schedule of Assets Measured at Fair Value on Nonrecurring Basis

The following table presents the carrying value of the assets measured at fair value on a nonrecurring basis and still held as of June 30, 2025 and December 31, 2024, and for which a nonrecurring fair value measurement was recorded during the six and twelve months then ended.

Table 12.4: Nonrecurring Fair Value Measurements

						June 30, 2025
						Estimated Fair Value Hierarchy												Total
(Dollars in millions)						Level 2						Level 3
Loans held for investment						$	0					$	474					$	474
Other assets(1)						0						68						68
Total						$	0					$	542					$	542

						December 31, 2024
						Estimated Fair Value Hierarchy												Total
(Dollars in millions)						Level 2						Level 3
Loans held for investment						$	0					$	827					$	827
Loans held for sale						4						0						4
Other assets(1)						0						133						133
Total						$	4					$	960					$	964

__________

(1)As of June 30, 2025, other assets included investments accounted for under measurement alternative of $1 million, repossessed assets of $64 million, and long-lived assets held for sale and right-of-use assets totaling $3 million. As of December 31, 2024, other assets included investments accounted for under measurement alternative of $71 million and repossessed assets of $62 million.

Schedule of Earnings Related to Assets Measured at Fair Value on Nonrecurring Basis

The following table presents total nonrecurring fair value measurements for the period, included in earnings, attributable to the change in fair value relating to assets that are still held at June 30, 2025 and 2024.

Table 12.5: Nonrecurring Fair Value Measurements Included in Earnings

						Total Gains (Losses)
						Six Months Ended June 30,
(Dollars in millions)						2025						2024
Loans held for investment						$	(210)					$	(168)
Loans held for sale						0						(10)
Other assets(1)						(63)						(66)
Total						$	(273)					$	(244)

__________

(1)Other assets primarily include fair value adjustments related to repossessed assets, long-lived assets held for sale and right-of-use assets, and equity investments accounted for under the measurement alternative.

Schedule of Fair Value of Financial Instruments

The following table presents the carrying value and estimated fair value, including the level within the fair value hierarchy, of our financial instruments that are not measured at fair value on a recurring basis on our consolidated balance sheets as of June 30, 2025 and December 31, 2024.

Table 12.6: Fair Value of Financial Instruments

						June 30, 2025
						Carrying Value						Estimated Fair Value						Estimated Fair Value Hierarchy
(Dollars in millions)																		Level 1						Level 2						Level 3
Financial assets:
Cash and cash equivalents						$	59,109					$	59,109					$	4,854					$	54,255					$	0
Restricted cash for securitization investors						2,469						2,469						2,469						0						0
Net loans held for investment						415,424						425,356						0						0						425,356
Loans held for sale						46						46						0						46						0
Interest receivable						3,373						3,373						0						3,373						0
Other investments(1)						2,528						2,528						0						2,528						0
Financial liabilities:
Deposits with defined maturities						103,548						103,695						0						103,695						0
Securitized debt obligations						14,658						14,703						0						14,703						0
Senior and subordinated notes						36,706						37,575						0						37,575						0
Federal funds purchased and securities loaned or sold under agreements to repurchase						742						742						0						742						0
Other borrowings(2)						538						523						0						523						0
Interest payable						888						888						0						888						0

						December 31, 2024
						Carrying Value						Estimated Fair Value						Estimated Fair Value Hierarchy
(Dollars in millions)																		Level 1						Level 2						Level 3
Financial assets:
Cash and cash equivalents						$	43,230					$	43,230					$	3,028					$	40,202					$	0
Restricted cash for securitization investors						441						441						441						0						0
Net loans held for investment						311,517						316,467						0						0						316,467
Loans held for sale						115						115						0						115						0
Interest receivable						2,532						2,532						0						2,532						0
Other investments(1)						1,329						1,329						0						1,329						0
Financial liabilities:
Deposits with defined maturities						78,944						79,091						0						79,091						0
Securitized debt obligations						14,264						14,335						0						14,335						0
Senior and subordinated notes						30,696						31,636						0						31,636						0
Federal funds purchased and securities loaned or sold under agreements to repurchase						562						562						0						562						0
Interest payable						666						666						0						666						0

__________

(1)Other investments include FHLB and Federal Reserve Bank stock. These investments are included in other assets on our consolidated balance sheets.

(2)Other borrowings exclude capital lease obligations.

X

- Definition

Fair Value Assets Measured On Non Recurring Basis Gain Loss Included In Earnings [Table Text Block]

+ References

No definition available.

+ Details

Name:	cof_FairValueAssetsMeasuredOnNonRecurringBasisGainLossIncludedInEarningsTableTextBlock
Namespace Prefix:	cof_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 103
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-103

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 101
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-101

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 3
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-3

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Name Accounting Standards Codification
-Section 55
-Paragraph 10
-SubTopic 10
-Topic 825
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482881/825-10-55-10

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 13
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-13

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482881/825-10-55-12

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 12
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-12

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 825
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482907/825-10-50-11

+ Details

Name:	us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_FairValueDisclosuresAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration