Fourth Quarter 2022 Financial Highlights
Items of Note
Fourth quarter and fiscal 2022
Period
Acquisition and integration-related costs as
Q4/22
FY/22
After-
Pre-Tax
Tax &
EPS
Pre-Tax
Effect
NCI
($MM)
Effect
Effect
($/Share)
Effect
($MM)
After-Tax
& NCI
Effect
($MM)
EPS
Effect
($/Share)
($MM)
Reporting Segments
well as purchase accounting adjustments and
provision for credit losses for performing loans
associated with the acquisition of the
12
8
0.01
181
133
0.15
Canadian Personal and
Business Banking
Canadian Costco credit card portfolio¹
Increase in legal provisions
91
20
Corporate and Other
67
0.07
136
100
0.11
Canadian Personal and
Business Banking
Amortization of acquisition-related intangible
27
21
0.02
98
75
0.08
U.S. Commercial and Wealth
assets
Management
Corporate and Other
Charge related to the consolidation of our real
estate portfolio
37
27
0.03
37
Adjustment to Net Income attributable to
common shareholders and EPS
167
123
0.13
452
335
0.37
40
27
27
0.03
Corporate and Other
1
Acquisition and integration costs are comprised of incremental costs incurred as part of planning for and executing the integration of the Canadian Costco credit card portfolio, including enabling franchising opportunities, the upgrade and conversion of systems and
processes, project delivery, communication costs and client welcome bonuses. Purchase accounting adjustments include the accretion of the acquisition date fair value discount on the acquired Costco credit card receivables. Provision for credit losses for performing
loans associated with the acquisition of the Canadian Costco credit card portfolio, included the stage 1 ECL allowance established immediately after the acquisition date and the impact of the migration of stage 1 accounts to stage 2 during the second quarter of 2022.
CIBC
Fourth Quarter, 2022
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