Investor Presentaiton
Reconciliation
Core G&A* to Total expense
Core G&A* is a non-GAAP financial measure. Please see a description of Core G&A* under "Non-GAAP Financial Measures" on page 3 of this presentation for additional information.
Below is a reconciliation of total expense to Core G&A* and of Core G&A, prior to the impact of the acquisitions of Waddell & Reed, NPH, and AdvisoryWorld for the periods presented
herein:
$ in millions
Total expense
Advisory and commission
Depreciation and amortization
Interest expense on borrowings
Brokerage, clearing and exchange
Amortization of other intangibles
Employee deferred compensation (21)
Loss on extinguishment of debt
Total G&A
Acquisition costs (22)
Promotional (ongoing) (22)
Employee share-based compensation
Regulatory charges
Core G&A
$ in millions
Core G&A
NPH-related Core G&A
AdvisorWorld-related Core G&A
Waddell & Reed-related Core G&A
Total Core G&A prior to acquisitions
Note: Totals may not foot due to rounding
Q1'23 LTM
$7,570
2022
$7,489
2021
$7,120
2020
$5,246
2019
$4,882
2018
$4,597
5,322
5,325
5,180
3,697
3,388
3,178
210
200
151
110
96
88
138
126
104
106
130
126
89
86
86
71
64
63
91
88
79
67
65
60
1
24
3
$1,719
$1,665
$1,494
$1,194
$1,136
$1,082
368
354
288
208
206
209
26
36
76
55
50
42
32
30
23
33
33
29
29
32
32
$1,237
$1,192
$1,058
$925
$868
$819
2021
2018
$1,058
$819
65
2
59
$999
$752
LPL Financial Member FINRA/SIPC
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