2021 Investor Day
Results excluding items included in our reported results are non-GAAP financial measures. During the implementation of our strategy, we will measure the progress
achieved by our underlying business performance. Management believes that such 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 to the most directly comparable US GAAP measures.
Reconciliation of adjustment items (3/3)
Group
CC
SRU
in CHF bn
Net revenues reported
2020
2019
2018
9M21
2020
2019
2018
2018
APAC in USD bn
3021 LTM
22.4
22.5
20.9
(0.1)
(0.3)
(0.4)
0.1
(0.7)
Net revenues reported
3.7
Real estate gains
(0.0)
(0.3)
(0.0)
0.0
(0.0)
(0.0)
Real estate gains
(Gains)/losses on business sales
0.0
(0.1)
0.0
0.0
0.0
(Gains)/losses on business sales
Valuation adjustment related to major litigation
0.1
Major litigation recovery
Gain related to InvestLab transfer
(0.3)
(0.3)
Gain on equity investment in Allfunds Group
(0.1)
Gain on equity investment in SIX Group AG
(0.2)
(0.5)
Gain on equity investment in Pfandbriefbank
(0.1)
Impairment on York Capital Management
Net revenues adj. excl. sign. items
Provision for credit losses
0.4
o/w Gain on equity investment in Allfunds Group
o/w Gain on equity investment in SIX Group AG
Net revenues adj. excl. significant items
Provision for credit losses
(0.2)
3.5
0.1
22.1
21.4
20.8
0.0
(0.3)
(0.4)
0.1
(0.7)
Total operating expenses reported
2.3
1.1
0.3
0.2
(0.0)
0.0
0.0
0.0
0.0
Restructuring expenses
(0.0)
Total operating expenses reported
17.8
17.4
17.3
1.3
1.8
1.4
0.4
0.7
Major litigation provisions
Restructuring expenses
(0.2)
(0.6)
0.0
(0.0)
0.0
(0.0)
Expenses related to real estate disposals
Major litigation provisions
(1.0)
(0.4)
(0.2)
(0.7)
(0.9)
(0.4)
(0.0)
(0.1)
Expenses related to business sales
Expenses related to real estate disposals
(0.1)
(0.1)
0.0
Expenses related to business sales
(0.1)
(0.0)
Expenses related to equity investment in Allfunds
Group
(0.0)
Expenses related to equity investment in Allfunds Group
Total operating expenses adj. excl. sign. items
16.6
16.9
16.4
0.6
0.9
1.0
0.4
0.5
Total operating expenses adjusted excl. sign.
items
2.3
Pre-tax income/(loss) reported
3.5
4.7
3.4
(1.3)
(2.2)
(1.9)
(0.3)
(1.4)
Pre-tax income/(loss) reported
1.4
Total adjustments, significant items and Archegos
0.9
(0.6)
0.8
0.8
0.9
0.4
0.0
0.1
Total adjustments and significant items
(0.2)
Pre-tax income/(loss) adj. excl. sign. items
4.4
4.1
4.2
(0.6)
(1.2)
(1.4)
(0.3)
(1.2)
Pre-tax income/(loss) adj. excl. sign. items
1.1
1 Current divisional structure
CREDIT SUISSE
2021 Investor Day
November 4, 2021
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