Fourth Quarter and Full Year 2016 Results Presentation
Adjusted results are non-GAAP financial measures that exclude goodwill impairment and certain other revenues and expenses included in our reported
results. Management believes that adjusted results provide a useful presentation of our operating results for purposes of assessing our Group and
divisional performance consistently over time, on a basis that excludes items that management does not consider representative of our underlying
performance. Provided below is a reconciliation of our adjusted results to the most directly comparable US GAAP measures.
Reconciliation of adjustment items (1/2)
CS Group in CHF mn
SRU in USD mn
Corp. Ctr. in CHF mn
Net revenues reported
4Q16 3Q16 4Q15 2016 2015
5,181 5,396 4,210 20,323 23,797
(170)
4Q16 3Q16 4Q15 2016 2015
(198)
(125) (1,285)
557
4Q16 3Q16 4Q15
(16)
2016 2015
72
(748)
71
561
Fair value on own debt
697
(298)
697
(298)
Real estate gains
(78)
(346)
(72)
(424)
(95)
(4)
(4)
(Gains)/losses on business sales
2
(34)
58
(34)
1
6
Net revenues adjusted
5,105
5,050
Provision for credit losses
75
55
4,801
133
19,957 23,370
(201)
252
324
28
(170)
6
(125) (1,283)
557
(16)
72
(51)
123
99
115
138
-
(2)
Total operating expenses reported
7,009
5,119
10,518 22,037
25,895
2,317
698
1,104
4,060
3,130
262
279
307
759
སྐྱེ = 8 8
52
263
(1)
862
Goodwill impairment
Restructuring expenses
(49)
Major litigation provisions
(2,101)
Total operating expenses adjusted
4,859
Pre-tax income/(loss) reported
(1,903)
Total adjustments
Pre-tax income/(loss) adjusted
2,074
171
(3,797)
(145) (355) (540)
(306) (564) (2,407)
4,668 5,802 19,090
222 (6,441) (1,966)
105 5,307 2,581
327 (1,134) 615
(3,797)
(355)
(820)
20,923
(1)
(2,029)
(23)
(324)
(258)
287
(2,422)
4,545
2,123
(2,543)
2,027
(516) (527)
351
(874)
347
(158) (123) (158)
(2,353) (295)
688 1,584
(1,328) (5,460) (2,711)
(7)
(7)
2,677
255
279
307
752
862
(278)
(207) (1,053)
(687)
(300)
416 2,478
(912) (2,982) (2,258)
453
7
697
59
(298)
(271)
(207)
(356)
(628)
(598)
IWM AM in CHF mn
GM in USD mn
IBCM in USD mn
4Q16
3Q16
381
292
4Q15
365
2016 2015
1,327 1,328
4Q16 3Q16 4Q15 2016 2015
1,256 1,396 1,168 5,575 7,124
4Q16 3Q16
4Q15
2016 2015
569
479
418
2,001 1,857
Net revenues reported
Fair value on own debt
Real estate gains
(Gains)/losses on business sales
Net revenues adjusted
381
292
365
1,327
1,328
Provision for credit losses
Total operating expenses reported
278
243
330
1,047
1,146
1,256 1,396 1,168 5,575
(3) (6)
1,250 1,310
7,124
569
479
418
2,001
1,857
(4)
(4)
11
(1)
(9)
20
Goodwill impairment
Restructuring expenses
(5)
(2)
(4)
(7)
(4)
(14)
Major litigation provisions
Total operating expenses adjusted
273
241
Pre-tax income/(loss) reported
103
Total adjustments
5
Pre-tax income/(loss) adjusted
108
275
326
1,040
1,142
1,236
(52)
(7) (51)
1,251 1,679
4,517
(2,690)
(97)
5,522
9,004
422
449
902
1,713
2,170
(2,690)
(384)
(384)
(220)
(97)
6
(16)
(22)
(29)
(22)
(7)
(240)
5,295
5,977
428
433
496 1,684
1,764
49
35
280
182
9
92
(3,345)
57 (1,891)
148
39
(484)
268 (313)
4
7
4
14
59
2,838
227 3,027
(6)
16
406
29
406
51
39
287
186
23
151
(507)
284 1,136
142
55
(78)
297
93
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February 14, 2017
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