Fourth Quarter, 2023 Financial Overview
Reconciliation
GAAP (reported) to non-GAAP (adjusted) results 1
$ millions, for the three months ended October 31, 2023
Operating results - reported
Total revenue
Provision for (reversal of) credit losses
Non-interest expenses
Income (loss) before income taxes
Income taxes
Net income (loss)
Net income attributable to non-controlling interests
Canadian
Personal and
Canadian
Commercial
Business
Banking
Banking
and Wealth
Management
U.S.
Commercial
Banking
Capital
Markets and
and Wealth Direct Financial
Management
Services
Corporate
and Other
U.S.
Commercial
Banking
and Wealth
Management
CIBC Total
($US)
$
2,455 $
1,366 $
672 $
1,290 $
61 $
5,844
$
492
282
11
249
4
(5)
541
183
1,307
679
387
734
333
3,440
284
866
676
36
552
(267)
1,863
25
231
186
(14)
169
(192)
380
(10)
635
490
50
383
(75)
1,483
35
8
8
635
490
50
383
(83)
1,475
35
$
1.53
Net income (loss) attributable to equity shareholders
Diluted EPS ($)
Impact of items of note
Non-interest expenses
Amortization and impairment of acquisition-related intangible assets
$
(6) $
$
(9) $
$
(30) $
(45)
$
(6)
Impact of items of note on non-interest expenses
(6)
(9)
(30)
(45)
(6)
Total pre-tax impact of items of note on net income
6
9
30
45
6
Income taxes
Amortization and impairment of acquisition-related intangible assets
Impact of items of note on income taxes
Total after-tax impact of items of note on net income
224
3
3
6
3
8
2
3
8
2
27
37
4
$
0.04
Impact of items of note on diluted EPS ($)
Operating results adjusted2
Total revenue - adjusted³
Provision for (reversal of) credit losses - adjusted
Non-interest expenses - adjusted
$
2,455 $
282
1,366 $
672 $
1,290 $
61 $
5,844
$
492
11
249
4
(5)
541
183
1,301
679
378
734
303
3,395
278
Income (loss) before income taxes - adjusted
872
676
45
552
(237)
1,908
31
Income taxes - adjusted
233
186
(11)
169
(189)
388
(8)
Net income (loss) - adjusted
639
490
56
383
(48)
1,520
39
8
8
Net income attributable to non-controlling interests - adjusted
Net income (loss) attributable to equity shareholders - adjusted
Adjusted diluted EPS ($)
639
490
56
383
(56)
1,512
39
$
1.57
Endnotes are included on slides 58 to 66.
CIBC
Fourth Quarter, 2023
54View entire presentation