Investor Presentaiton
APPENDIX 14 | RECONCILIATION OF NON-GAAP FINANCIAL MEASURES
($MM, except EPS)
Q1 24
Q1 23
Non-
Non-
Total
Revenues
Segment
Interest PTPP(6) PCL
Expenses
Income Net
taxes Income
Diluted
EPS
Total
Revenues
Interest PTPP(6) PCL
Expenses
Income
taxes. Income
Net
Diluted
EPS
Adjusted Results (1)
2,820
1,449 1,371
120
329
922
$2.59
2,692
1,390 1,302
86
316
900
$2.54
Financial Markets
Taxable equivalent
(108)
(108)
(108)
(129)
(129)
(129)
Other
Taxable equivalent
(2)
(2)
(2)
(1)
(1)
(1)
Other
Income taxes related to the Canadian
government's 2022 tax measure (2)
24
(24) (0.07)
Total impact
(110)
(110)
(110)
$0.00
(130)
(130)
(106)
(24) ($0.07)
Reported Results
2,710
1,449 1,261
120
219
922
$2.59
2,562
1,390 1,172
86
210
876
$2.47
Q4 23
Non-
Total
Revenues
Segment
Interest PTPP(6)
Expenses
PCL
Income Net
taxes Income
Diluted
EPS
Adjusted Results (1)
2,725
1,461
1,264
115
299
850
$2.39
Financial Markets
Taxable equivalent
(162)
(162)
(162)
Other
Taxable equivalent
(3)
(3)
(3)
P&C Banking
Impairment losses on intangible assets and
premises and equipment (3)
59
(59)
(17)
(42) (0.12)
Impairment losses on intangible assets and
Wealth Management
8
premises and equipment (3)
(8)
(2)
(6)
(0.02)
Impairment losses on intangible assets and
Financial Markets
7
(7)
premises and equipment (3)
(2)
(5)
(0.02)
Other
Impairment losses on intangible assets and
premises and equipment (3)
12
13
(12)
(3)
(9)
(0.03)
Wealth Management Litigation expenses(4)
35
(35)
(9)
(26)
(0.08)
P&C Banking
Provisions for contracts (5)
9
(9)
.
(2)
(7)
(0.02)
Other
Provisions for contracts (5)
6
(6)
(2)
(4)
(0.01)
Total impact
(165)
136
(301)
(202) (99)
($0.30)
Reported Results
2,560
1,597
963
115
97
751
$2.09
(1)
(2)
(3)
On a taxable equivalent basis and excluding specified items, which are non-GAAP financial measures. See slide 2.
During the first quarter of 2023, the Bank recorded a $24 million tax expense related to the Canadian government's 2022 tax measures. Please refer to pages 4 to 8 of the Bank's Report to Shareholders for the First
Quarter of 2024 for additional information.
During the fourth quarter of 2023, the Bank recorded $75 million in intangible asset impairment losses ($54 million net of income taxes) on technology development for which the Bank has decided to cease its use or
development, and it recorded $11 million in premises and equipment impairment losses ($8 million net of income taxes) related to right-of-use assets. Please refer to pages 4 to 8 of the Bank's Report to Shareholders
for the First Quarter of 2024 for additional information.
During the fourth quarter of 2023, the Bank recorded $35 million in litigation expenses ($26 million net of income taxes) to resolve litigations and other disputes arising from ongoing or potential claims against the Bank.
Please refer to pages 4 to 8 of the Bank's Report to Shareholders for the First Quarter of 2024 for additional information.
(4)
(5)
(6)
Pre-Tax Pre-Provision earnings (PTPP) refers to Income before provisions for credit losses and income taxes.
During the fourth quarter of 2023, the Bank recorded $15 million in charges ($11 million net of income taxes) for contract termination penalties and for provisions for onerous contracts. Please refer to pages 4 to 8 of the
Bank's Report to Shareholders for the First Quarter of 2024 for additional information.
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