Investor Presentaiton
Supplemental
Non-GAAP Reconciliations - Quarterly
Net Financing Revenue (ex. Core OID)
($ millions)
GAAP Net Financing Revenue
Core OID
Net Financing Revenue (ex. Core OID)
4Q 2023 Preliminary Results
4Q 23
3Q 23
2Q 23
1Q 23
4Q 22
3Q 22
QUARTERLY TREND
2Q 22
1Q 22
4Q 21
3Q 21
2Q 21
1Q 21
4Q 20
[x] $ 1,493
13
$ 1,533
12
$ 1,573
12
$ 1,602
11
$ 1,674
11
$ 1,719
$ 1,764
11
10
$ 1,693
10
$ 1,654
$ 1,594
$ 1,547
9
9
9
$ 1,372
10
$ 1,303
9
[a] $ 1,506
$ 1,545
$ 1,585
$ 1,613
$ 1,685
$ 1,730
$ 1,774
$ 1,703
$ 1,663
$ 1,603
$ 1,556
$ 1,382
$ 1,312
Adjusted Other Revenue
($ millions)
4Q 23
3Q 23
2Q 23
1Q 23
4Q 22
3Q 22
QUARTERLY TREND
2Q 22
1Q 22
4Q 21
3Q 21
2Q 21
1Q 21
4Q 20
GAAP Other Revenue
[y] $
574
$ 435
$
506
$
498
$ 527
$
297
$
312
$
442
$
545
$
391
$
538
$
565
$
678
Accelerated OID & repositioning items
9
52
70
Change in fair value of equity securities
(74)
56
(25)
Adjusted Other Revenue
[b] $
500
$ 491
$
481
$
(65)
433
(49)
62
136
66
(21)
65
(19)
(17)
(111)
$ 478
$ 359 $ 448
$
508
$
533
$ 507
$
588
$
548
567
Adjusted NIE (ex. Repositioning)
($ millions)
GAAP Noninterest Expense
Repositioning
Adjusted NIE (ex. Repositioning)
Core Pre-Provision Net Revenue
($ millions)
Pre-Provision Net Revenue
Core Pre-Provision Net Revenue
Adjusted Total Net Revenue
($ millions)
Adjusted Total Net Revenue
QUARTERLY TREND
4Q 23
[z] $ 1,416
187
3Q 23
2Q 23
1Q 23
$ 1,232
30
$ 1,249
$ 1,266
4Q 22
$ 1,266
3Q 22
$ 1,161
2Q 22
$ 1,138
1Q 22
$ 1,122
4Q 21
$ 1,090
3Q 21
2Q 21
1Q 21
$ 1,002
$ 1,075
$
943
4Q 20
$ 1,023
57
20
[c]
$ 1,229
$ 1,202
$ 1,249
$ 1,266
$ 1,209
$ 1,141
$ 1,138
$ 1,122
$ 1,090
$ 1,002
$ 1,075
$
943
$ 1,023
QUARTERLY TREND
4Q 23
[x]+[y]-[z] 651
[a]+[b]-[c] $ 777
3Q 23
736
2Q 23
830
1Q 23
4Q 22
3Q 22
2Q 22
834
$ 834
$ 817
$ 781
$
935
954
$
855
948
938
1Q 22
1,013
4Q 21
1,109
3Q 21
983
2Q 21
1,010
1Q 21
$ 1,084
$ 1,088
$ 1,107
$ 1,108
$ 1,070
994
$ 987
4Q 20
958
$ 856
[a]+[b] $ 2,006
$ 2,036
$ 2,066
$ 2,047
$ 2,163
$ 2,089
$ 2,222
$ 2,210
$ 2,197
$ 2,110
$ 2,145
$ 1,930
$ 1,879
Original issue discount amortization expense
($ millions)
GAAP original issue discount amortization expense
Other OID
Core original issue discount (Core OID) amortization expense
QUARTERLY TREND
4Q 23
3Q 23
2Q 23
1Q 23
4Q 22
3Q 22
2Q 22
1Q 22
4Q 21
3Q 21
2Q 21
1Q 21
4Q 20
$
16
$
15
$
15
$
15
$
14
$
13
$
13 $
13
$
12
$
12 $
12
$
12 $
13
(3)
(3)
(3)
(3)
(3)
(3)
(2)
(3)
(3)
(3)
(3)
(3)
(3)
$
13
$
12
$
12
$
11
$
11
$
11
$
10 $
10
$
9
$
9
$
9
$
10
$
9
Outstanding original issue discount balance
QUARTERLY TREND
$ (929)
($ millions)
4Q 23
3Q 23
2Q 23
1Q 23
4Q 22
3Q 22
2Q 22
1Q 22
4Q 21
3Q 21
GAAP outstanding original issue discount balance
$ (831)
Other outstanding OID balance
39
$ (847)
42
$
(863)
45
(878)
48
$
(882)
40
$ (888)
$ (901)
$
36
39
(911)
37
$ (923)
40
29
Core outstanding original issue discount balance (Core OID balance)
$ (793)
$ (806)
$ (818) $
(830)
$ (841) $ (852)
$ (863)
$
(873)
$ (883)
$ (900)
2Q 21
$ (983)
32
$ (952)
1Q 21
$ (1,052)
34
$ (1,018)
4Q 20
$ (1,064)
37
$ (1,027)
Note: Change in fair value of equity securities impacts the Insurance, Corporate Finance and Corporate and Other segments. The change reflects fair value adjustments to equity securities that are reported at fair
value. Management believes the change in fair value of equity securities should be removed from select financial measures because it enables the reader to better understand the business' ongoing ability to generate
revenue and income.
ally do it right.
62
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