Adjusted EPS Financial Overview
Non-GAAP measures - ROI (cont.)
The calculation of ROA and ROI, along with a reconciliation of ROI to the calculation of ROA, is as follows:
(Dollars in millions)
Numerator
Operating income
+ Interest income
+ Depreciation and amortization
+ Rent
ROI operating income
CALCULATION OF RETURN ON INVESTMENT
Apr 30,
Jul 31,
Trailing Twelve Months Ending
Oct 31,
Jan 31,
Apr 30,
2022
2022
2022
2023
2023
Denominator
Average total assets'
+ Average accumulated depreciation and amortization
1
- Average accounts payable
- Average accrued liabilities'
Average invested capital
Return on investment (ROI)
$
24,351
163
23,851
155
20,754
20,428
21,350
196
254
323
10,679
$
2,270
37,463
10,733
2,302
$ 37,041
10,840
10,945
11,110
2,296
$ 34,086 $
2,306
33,933
2,301
$
35,084
$ 241,362
$ 242,876
100,315
102,155
$ 246,254
103,898
$
244,029
245,598
106,249
108,730
50,539
21,216
51,896
57,210
54,502
53,597
23,878
25,959
28,593
24,294
$ 269,922
$ 269,257
$ 266,983
267,183
276,437
13.9 %
13.8 %
12.8 %
12.7 %
12.7 %
The average is based on the addition of the account balance at the end of the current period to the account balance at the end of the prior period and dividing by 2View entire presentation