Fourth Quarter and Full Year 2016 Results Presentation
Adjusted results are non-GAAP financial measures that exclude goodwill impairment and certain other revenues and expenses included in our reported
results. Management believes that adjusted results provide a useful presentation of our operating results for purposes of assessing our Group and
divisional performance consistently over time, on a basis that excludes items that management does not consider representative of our underlying
performance. Provided below is a reconciliation of our adjusted results to the most directly comparable US GAAP measures.
Reconciliation of adjustment items (2/2)
SUB PB in CHF mn
IWM PB in CHF mn
APAC PB in CHF mn
4Q16
3Q16 4Q15
2016 2015
4Q16 3Q16
4Q15 2016 2015
4Q16 3Q16
858
1,160
963
3,704
3,696
918
789
808
3,371
3,224
372
346
4Q15 2016
271
2015
1,374
1,178
Net revenues reported
Fair value on own debt
Real estate gains
(20)
(346)
(72)
(366)
(95)
(54)
(54)
(Gains)/losses on business sales
(10)
(10)
(11)
(11)
Net revenues adjusted
838
814
881 3,338
3,591
864
789
797
3,317
3,213
372
346
271
1,374
1,178
Provision for credit losses
10
13
རྞ
14
39
49
6
(7)
20
5
9
38
(5)
32
18
Total operating expenses reported
654
603
784
2,471
2,772
684
593
874
2,510
2,678
267
242
228
970
816
Goodwill impairment
Restructuring expenses
3
(16)
(33)
(51)
(33)
(11)
(13)
(32)
(47)
(32)
€
(3)
(1)
(4)
(1)
Major litigation provisions
(25)
(25)
(7)
19
(228)
12
(268)
(6)
(6)
Total operating expenses adjusted
657
587
726
2,420
2,714
666
599
614
2,475 2,378
266
239
221
966
809
Pre-tax income/(loss) reported
194
544
165
1,194
875
228
196
(59)
841
541
96
66
48
372
344
Total adjustments
(23)
(330)
(24) (315)
(47)
(36)
(6)
249 (19)
289
1
3
7
4
7
Pre-tax income/(loss) adjusted
171
214
141
879
828
192
190
190
822
830
97
69
55
376
351
SUB C&IB in CHF mn
APAC IB in CHF mn
APAC IB in USD mn
4Q16
3Q16
4Q15
2016
2015
4Q16
3Q16
4Q15
2016
2015
4Q16
3Q16
4Q15
2016
2015
541
507
532
2,055
2,025
490
571
555
2,223
2,661
487
587
552
2,259
2,773
Net revenues reported
Fair value on own debt
Real estate gains
(Gains)/losses on business sales
(13)
(13)
Net revenues adjusted
541
507
519
2,055
2,012
490
Provision for credit losses
24
17
29
40
89
2
Total operating expenses reported
329
276
304
1,184
1,136
481
ཆེ༤གྲྭ
555
2,223
2,661
487
587
552
2,259
2,773
8
(6)
17
2
(5)
8
(7)
17
489
1,212
1,876
2,611
477
504
1,221
1,901
2,691
Goodwill impairment
(756)
(756)
(765)
(765)
Restructuring expenses
(3)
(9)
(9)
(18)
(20)
(2)
(49)
(2)
(18)
(21)
(2)
(50)
(2)
Major litigation provisions
(19)
(19)
Total operating expenses adjusted
310
273
295
1,156
1,127
463
469
454
1,827
1,853
459
483
454
1,851
1,924
Pre-tax income/(loss) reported
188
214
199
831
800
7
86
(665)
353
33
8
88
(677)
365
65
Total adjustments
19
3
(4)
28
(4)
18
20
758
49
758
18
21
767
50
767
Pre-tax income/(loss) adjusted
207
217
195
859
796
25
106
93
402
791
26
109
90
415
832
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February 14, 2017
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