XML 36 R25.htm IDEA: XBRL DOCUMENT
v3.25.3

Business Combination and Discontinued Operations (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract] |
Schedule of Preferred Stock | The following table summarizes the terms of the preferred stock issued as part of the Transaction. Table 2.1: Summary of Preferred Stock Terms
|  |  |  |  |  | Redeemable by Issuer Beginning |  | Per Annum Dividend Rate |  | Dividend Frequency |  | Liquidation Preference per Share |  | Total Shares Issued
Series |  | Description |  | Issuance Date |  |  |  |  |
Series O |  | Fixed-to-Floating Rate Non-Cumulative |  | May 18, 2025 |  | October 30, 2027 |  | 5.500% through 10/29/2027; resets 10/30/2027 and every quarter thereafter at three-month term SOFR + 3.338% |  | Semi-Annually through 10/30/2027;Quarterly thereafter |  | 100,000 |  |  | 5,700 |
Series P(1) |  | 6.125% Fixed- Rate Reset Non-Cumulative |  | May 18, 2025 |  | June 23, 2025 |  | 6.125% through 9/22/2025; resets 9/23/2025 and every subsequent 5 year anniversary at 5-Year Treasury Rate +5.783% |  | Semi-Annually |  | 100,000 |  |  | 5,000 |
________ (1)Series P was fully redeemed on June 30, 2025. See “Item 2. MD&A—Capital Management” for additional information. The following table summarizes our preferred stock outstanding as of September 30, 2025 and December 31, 2024. Table 10.1: Preferred Stock Outstanding(1)
|  |  |  |  |  | Redeemable by Issuer Beginning |  | Per Annum Dividend Rate |  | Dividend Frequency |  | Liquidation Preference per Share |  | Total Shares Outstanding as of September 30, 2025 |  | Carrying Value (in millions)
Series |  | Description |  | Issuance Date |  |  |  |  |  |  | September 30, 2025 |  | December 31, 2024
Series I |  | 5.000% Non-Cumulative |  | September 11, 2019 |  | December 1, 2024 |  | 5.000% |  | Quarterly |  | $ | 1,000 |  |  | 1,500,000 |  |  | $ | 1,462 |  |  | $ | 1,462 |
Series J |  | 4.800% Non-Cumulative |  | January 31, 2020 |  | June 1, 2025 |  | 4.800 |  | Quarterly |  | 1,000 |  |  | 1,250,000 |  |  | 1,209 |  |  | 1,209 |
Series K |  | 4.625% Non-Cumulative |  | September 17, 2020 |  | December 1, 2025 |  | 4.625 |  | Quarterly |  | 1,000 |  |  | 125,000 |  |  | 122 |  |  | 122 |
Series L |  | 4.375% Non-Cumulative |  | May 4, 2021 |  | September 1, 2026 |  | 4.375 |  | Quarterly |  | 1,000 |  |  | 675,000 |  |  | 652 |  |  | 652 |
Series M |  | 3.950% Fixed Rate Reset Non-Cumulative |  | June 10, 2021 |  | September 1, 2026 |  | 3.950% through 8/31/2026; resets 9/1/2026 and every subsequent 5 year anniversary at 5-Year Treasury Rate +3.157% |  | Quarterly |  | 1,000 |  |  | 1,000,000 |  |  | 988 |  |  | 988 |
Series N |  | 4.250% Non-Cumulative |  | July 29, 2021 |  | September 1, 2026 |  | 4.250% |  | Quarterly |  | 1,000 |  |  | 425,000 |  |  | 412 |  |  | 412 |
Series O |  | Fixed-to-Floating Rate Non-Cumulative |  | May 18, 2025 |  | October 30, 2027 |  | 5.500% through 10/29/2027; resets 10/30/2027 and every quarter thereafter at three-month term SOFR + 3.338% |  | Semi-Annually through 10/30/2027;Quarterly thereafter |  | 100,000 |  |  | 5,700 |  |  | 562 |  |  | N/A
Total |  | $ | 5,407 |  |  | $ | 4,845 |
__________ (1)For Series I, J, K, L, and N, ownership is held in the form of depositary shares, each representing a 1/40th interest in a share of non-cumulative perpetual preferred stock. For Series O, ownership is held in the form of depositary shares, each representing a 1/100th interest in a share of non-cumulative perpetual preferred stock.
Business Combination | Table 2.2: Preliminary Allocation of Purchase Consideration
(in millions, except share and per share data) |  | Fair Value
Purchase consideration: |  |
Shares of Discover common stock issued and outstanding immediately prior to the acquisition |  | 251,679,740
Exchange ratio |  | 1.0192
Number of shares of Capital One treasury stock reissued in the acquisition before fractional shares adjustment |  | 256,511,991
Less: Number of fractional shares |  | (14,778)
Number of shares of Capital One treasury stock reissued in the acquisition |  | 256,497,213
Price per share of Capital One common stock |  | $ | 197.22 |
Fair value of consideration for outstanding common stock |  | 50,586 |
Fair value of consideration for preferred stock |  | 1,068
Fair value of consideration related to stock-based compensation awards |  | 136
Cash in lieu of fractional shares |  | 3
Fair value of purchase consideration |  | $ | 51,793 |
Allocation of purchase consideration to net assets acquired: |  |
Preliminary fair value of assets acquired: |  |
Cash and cash equivalents and Restricted cash for securitization investors(1) |  | $ | 16,467 |
Securities available for sale |  | 14,108
Net loans held for investment (see Table 2.3) |  | 108,609
Premises and equipment |  | 956
Interest receivable |  | 926
Intangible assets (see Table 2.4) |  | 17,610
Other assets(2) |  | 1,448
Assets of discontinued operations(3) |  | 7,981
Preliminary fair value of liabilities assumed: |  |
Interest payable |  | 347
Non-interest-bearing deposits |  | 1,710
Interest-bearing deposits (see Table 2.5) |  | 105,208
Securitized debt obligations |  | 5,827
Senior and subordinated notes |  | 6,917
Other borrowings |  | 538
Deferred tax liability(4) |  | 3,455
Other liabilities(5) |  | 6,088
Preliminary fair value of net assets acquired |  | $ | 38,015 |
Preliminary Goodwill |  | $ | 13,778 |
________ (1)Includes $1.0 billion restricted cash primarily related to securitization investors. (2)Includes tax credit and other investments, non-loan receivables, derivative assets, and other short-term assets. (3)Includes $7.9 billion of home loans classified as discontinued operations. (4)The Transaction generated a net deferred tax liability. On a consolidated basis, this net deferred tax liability is included in Other assets on the Consolidated Balance Sheet as we have a total net deferred tax asset as of September 30, 2025. (5)Includes rewards liabilities, associate compensation and benefit related liabilities, derivative liabilities, and other accrued expenses. Also includes the liability related to the Card Product Misclassification matter as of the Closing Date. For additional information, refer to “Note 14—Commitments, Contingencies, Guarantees and Others.”
Investment Holdings, Other than Securities | The following table includes the fair value and unpaid principal balance of the acquired loans held for investment: Table 2.3: Acquired Loans Held for Investment
(Dollars in millions) |  | Unpaid Principal Balance |  | Premium/(Discount)(1) |  | Loans held for investment |  | Allowance for credit losses |  | Net loans held for investment
Non-PCD loans |  | $ | 101,614 |  |  | $ | 1,069 |  |  | $ | 102,683 |  |  | $ | 0 |  |  | $ | 102,683 |
PCD loans |  | 6,894 |  | (538) |  |  | 6,356 |  | (2,870) |  |  | 3,486
Recoveries on acquired Discover loans that are fully charged off(2) |  | N/A |  | (865) |  |  | (865) |  |  | 3,305 |  |  | 2,440 |
Total |  | $ | 108,508 |  |  | $ | (334) |  |  | $ | 108,174 |  |  | $ | 435 |  |  | $ | 108,609 |
________ (1)The premium of $1.1 billion for Non-PCD loans and non-credit discount of $1.4 billion for PCD loans will be amortized over the period of expected cash flows of the applicable loans. (2)Charge-offs exclude $19.4 billion of acquired PCD loans that are fully charged-off, with the expected recoveries of $3.3 billion included as a benefit to the allowance for credit losses.
Schedule of Finite-Lived Intangible Assets | The following table summarizes the fair value of the intangible assets acquired: Table 2.4: Fair Value of Acquired Intangible Assets
(Dollars in millions) |  | Useful Life (1) |  | Amortization Methodology |  | Fair Value
Purchased credit card relationships |  | 11 |  | Accelerated |  | $ | 10,100 |
Network and financial partner relationships |  | 11 |  | Straight-line |  | 1,500
Core deposit |  | 10 |  | Accelerated |  | 1,040
Intangible assets with definite lives |  |  |  |  |  | 12,640
Discover Network |  | N/A |  | N/A - Indefinite useful life |  | 2,700
Brand/Trade names |  | N/A |  | N/A - Indefinite useful life |  | 2,270
Intangible assets with indefinite lives |  |  |  |  |  | 4,970
Total intangible assets |  |  |  |  |  | $ | 17,610 |
________ (1)Weighted-average amortization period for acquired amortizing intangible assets is 11 years.
Deposit Liabilities, Type | The following table summarizes the fair value of the interest-bearing deposits acquired: Table 2.5: Fair Value of Acquired Interest-bearing Deposits
(Dollars in millions) |  | Fair Value
Time deposits |  | $ | 39,630 |
Other interest-bearing deposits |  | 65,578
Total interest-bearing deposits |  | $ | 105,208 |
Schedule of Operating Income | Table 2.6: Selected Unaudited Pro Forma Results
|  |  | Combined Pro Forma Results
|  |  | Three Months Ended September 30, |  | Nine Months Ended September 30,
(Dollars in millions) |  |  | 2025 |  | 2024 |  | 2025 |  | 2024
Net interest income(1) |  |  | $ | 12,580 |  |  | $ | 11,738 |  |  | $ | 36,335 |  |  | $ | 33,583 |
Non-interest income |  |  | 2,955 |  |  | 2,564 |  |  | 8,397 |  |  | 7,827 |
Income from continuing operations, net of tax(2) |  |  | 3,363 |  |  | 2,123 |  |  | 8,369 |  |  | (361) |
________ (1)Combined pro forma net interest income for the three months and nine months ended September 30, 2024 was adjusted to remove $244 million and $764 million, respectively, of interest income from the sold Discover student loan portfolio. (2)Combined pro forma income from continuing operations, net of tax, was adjusted to reflect the $8.8 billion increase to the provision for credit losses for the Discover non-PCD loan portfolio recognized in the nine months ended September 30, 2025 as if it had been recognized consistent with a Closing Date of January 1, 2024.

X
- Definition Schedule of Operating Income + References No definition available. + Details
Name: | cof_ScheduleOfOperatingIncomeTableTextBlock
Namespace Prefix: | cof_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_BusinessCombinationAndAssetAcquisitionAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of type of deposit liability. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-K (SK) -Number 229 -Section 1406 -Paragraph e -Publisher SEC Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-K (SK) -Number 229 -Section 1406 -Paragraph d -Publisher SEC Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-K (SK) -Number 229 -Section 1406 -Paragraph c -Publisher SEC Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-K (SK) -Number 229 -Section 1406 -Paragraph a -Subparagraph (5) -Publisher SEC Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-K (SK) -Number 229 -Section 1406 -Paragraph a -Subparagraph (4) -Publisher SEC Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-K (SK) -Number 229 -Section 1406 -Paragraph a -Subparagraph (3) -Publisher SEC Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-K (SK) -Number 229 -Section 1406 -Paragraph a -Subparagraph (2) -Publisher SEC Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-K (SK) -Number 229 -Section 1406 -Paragraph a -Subparagraph (1) -Publisher SEC Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-K (SK) -Number 229 -Section 1406 -Paragraph a -Publisher SEC Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-K (SK) -Number 229 -Section 1406 -Paragraph f -Subparagraph (1) -Publisher SEC Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-K (SK) -Number 229 -Section 1406 -Paragraph f -Subparagraph (2) -Publisher SEC Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-K (SK) -Number 229 -Section 1406 -Paragraph f -Subparagraph (2)(i) -Publisher SEC Reference 13: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-K (SK) -Number 229 -Section 1406 -Paragraph f -Subparagraph (2)(iv) -Publisher SEC Reference 14: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-K (SK) -Number 229 -Section 1406 -Paragraph f -Subparagraph (2)(iii) -Publisher SEC Reference 15: http://www.xbrl.org/2009/role/commonPracticeRef -Name Regulation S-K (SK) -Number 229 -Section 1406 -Paragraph f -Subparagraph (2)(ii) -Publisher SEC + Details
Name: | us-gaap_DepositLiabilitiesTypeTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the investment holdings which are represented by other than securities (for example, commodities). The investment holdings, other than securities investments table lists the long positions of non-security investments held by entity. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 946 -SubTopic 320 -Name Accounting Standards Codification -Section S99 -Paragraph 5D -Subparagraph (SX 210.12-13D) -Publisher FASB -URI https://asc.fasb.org/1943274/2147477271/946-320-S99-5D + Details
Name: | us-gaap_InvestmentHoldingsOtherThanSecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of business combination. Includes, but is not limited to, recognized asset and liability. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Topic 805 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-8 Reference 2: http://www.xbrl.org/2003/role/exampleRef -Topic 805 -SubTopic 10 -Name Accounting Standards Codification -Section 55 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479303/805-10-55-41 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-2 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479581/805-30-50-2 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479581/805-30-50-1 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -SubTopic 20 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479907/805-20-50-1 Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-3 Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 805 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479328/805-10-50-2 + Details
Name: | us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets, excluding financial assets and goodwill, lacking physical substance with a finite life, by either major class or business segment. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Name Accounting Standards Codification -Section 55 -Paragraph 40 -SubTopic 30 -Topic 350 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482640/350-30-55-40 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 350 -SubTopic 30 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482665/350-30-50-2 + Details
Name: | us-gaap_ScheduleOfFiniteLivedIntangibleAssetsTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of an entity's stock, including par or stated value per share, number and dollar amount of share subscriptions, shares authorized, shares issued, shares outstanding, number and dollar amount of shares held in an employee trust, dividend per share, total dividends, share conversion features, par value plus additional paid in capital, the value of treasury stock and other information necessary to a fair presentation, and EPS information. Stock by class includes common, convertible, and preferred stocks which are not redeemable or redeemable solely at the option of the issuer. Includes preferred stock with redemption features that are solely within the control of the issuer and mandatorily redeemable stock if redemption is required to occur only upon liquidation or termination of the reporting entity. If more than one issue is outstanding, state the title of each issue and the corresponding dollar amount; dollar amount of any shares subscribed but unissued and the deduction of subscriptions receivable there from; number of shares authorized, issued, and outstanding. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(27)) -SubTopic 10 -Topic 210 -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(28)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 210 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02(29)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480566/210-10-S99-1 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 1 -Subparagraph (SX 210.3-04) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480008/505-10-S99-1 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-3 Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 4 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-4 Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 5 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-5 Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 45 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481142/505-10-45-2 Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-10 Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 505 -SubTopic 10 -Section 50 -Paragraph 8 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-8 Reference 11: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-6 Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 505 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481112/505-10-50-7 + Details
Name: | us-gaap_ScheduleOfStockByClassTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration