Financial Results
Adjusted Non-Interest Expense Reconciliation
(Canadian $ in millions unless otherwise stated)
Reported Salaries
Acquisition and integration costs
Impact of divestitures
Q1 24
Q4 23
Q3 23
Q2 23
Q1 23
1,471
1,683
1,872
1,783
1,219
(34)
(203)
(197)
(357)
(52)
1,437
1,480
1,675
1,426
1,167
Reported Performance-based compensation
1,029
935
836
809
981
Employee
Compensation
Acquisition and integration costs
(12)
(15)
(10)
(6)
(7)
Adjusted Performance-based compensation
1,017
920
826
803
974
Reported Employee benefits
370
277
343
370
352
Acquisition and integration costs
(1)
(3)
(5)
(1)
Premises
Adjusted Employee benefits
Reported Premises
Acquisition and integration costs
Adjusted Premises
Reported Computer and equipment
Acquisition and integration costs
370
276
340
365
351
277
384
293
322
228
(1)
(4)
(1)
277
383
289
321
228
699
1,060
922
936
725
(26)
(275)
(186)
(237)
(117)
Adjusted Computer and equipment
673
785
736
699
608
Amortization of
Reported Amortization of software and other intangibles
279
284
284
278
162
software and other
intangibles
Amortization of acquisition-related intangible assets
(112)
(119)
(115)
(115)
(8)
Adjusted Amortization of intangible assets
167
165
169
163
154
Reported Advertising and business development
191
260
218
195
139
Acquisition and integration costs
Adjusted Advertising and business development
Reported Communications
Acquisition and integration costs
Adjusted Communications
Reported Professional fees
(10)
(34)
(28)
(12)
(5)
181
226
190
183
134
101
108
95
90
74
(7)
(7)
(2)
(1)
101
101
88
88
73
207
320
276
310
229
Acquisition and integration costs
Other
Legal Provision
(3)
(50)
(56)
(102)
(43)
(1)
(2)
Impact of Canadian tax measures
Adjusted Professional fees
Reported Other
Acquisition and integration costs
(1)
204
269
219
208
184
765
368
433
408
273
9
4
(6)
(5)
(13)
Legal Provision
Impact of Canadian tax measures
FDIC special assessment
Adjusted Other
(1)
(1)
7
(21)
(417)
356
371
413
403
260
Prior period amounts have been reclassified to conform with the current period presentation, including the retrospective application of IFRS 17
Refer to footnotes (1) to (7) in the Non-GAAP and other Financial Measures table on slide 38 for details on adjusting items, and the Non-GAAP and Other Financial Measures and Summary Quarterly Earnings Trend sections
of the First Quarter 2024 MD&A for further information
BMOM
.
Financial Results ⚫ February 27, 2024
41View entire presentation