Financial Results
Adjusted Net Income Reconciliation by Operating Group
(Canadian $ in millions unless otherwise stated)
Canadian P&C
Reported Net Income
Acquisition and integration costs
Q1 24
Q4 23
Q3 23
Q2 23
Q1 23
921
922
881
819
951
1
1
6
2
Amortization of acquisition-related intangible assets
Adjusted Net Income
3
3
2
1
925
926
889
822
951
U.S. P&C
(USD)
Reported Net Income
419
433
376
539
495
Amortization of acquisition-related intangible assets
56
Adjusted Net Income
475
BMO Wealth
Management
Reported Net Income
240
Amortization of acquisition-related intangible assets
1
Adjusted Net Income
241
BMO Capital
Markets
Reported Net Income
393
Acquisition and integration costs
Amortization of acquisition-related intangible assets
10
5
Adjusted Net Income
408
Corporate
Reported Net Income
(822)
Services
Acquisition and integration costs
Management of Fair Value Changes on the Purchase of Bank of the West (3)
Impact of Canadian tax measures
Initial provision for credit losses on purchased performing loans
Net loss on RV loan portfolio sale
136
FDIC special assessment
313
Adjusted Net Income
(316)
(180)
Total Bank
Reported Net Income
1,292
1,710
Management of Fair Value Changes on the Purchase of Bank of the West
Acquisition and integration costs
Amortization of acquisition-related intangible assets
Legal Provisions
Impact of Canadian tax measures
Initial provision for credit losses on purchased performing loans
(18)
(63)
(114)
1,565
1,029
133
1,461
57
433
370
549
181
84
88
85
85
6
11
12
(3)
6
6
131
371
517
Net loss on RV loan portfolio sale
136
FDIC special assessment
313
Adjusted Net Income
1,893
2,243
2,148
2,186
2,158
U.S. Segment
(USD)
Reported Net Income
184
364
343
(119)
(573)
Management of Fair Value Changes on the Purchase of Bank of the West (3)
Acquisition and integration costs
1,093
39
317
275
400
132
Amortization of acquisition-related intangible assets
59
61
60
61
4
Legal provision
8
(2)
4
5
Initial provision for credit losses on purchased performing loans
379
Net loss on RV loan portfolio sale
FDIC special assessment
Adjusted Net Income
676
725
661
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
ཪྻརྞྞཊྛcཉྫཱep g| | | ।gཎྜ ।g⌘ཌ| | | |gg lཥཅ༅ | | |g
༄| |ཤྰg8 |⊙ཌ།┴8ཥྞg༅།སྐ༅།ཋཏྲུ
102
231
623
57
58
57
1
490
434
596
496
351
396
240
159
1
1
1
1
352
397
241
160
472
295
370
488
(2)
1
2
3
5
5
6
4
475
301
378
495
(626)
(509)
(1,131)
(2,130)
1,461
434
363
545
178
131
371
517
BMOM
Financial Results ⚫
February 27, 2024
39View entire presentation