2021 Investor Day
Results excluding items included in our reported results are non-GAAP financial measures. During the implementation of our strategy, we will measure the progress
achieved by our underlying business performance. Management believes that such 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 to the most directly comparable US GAAP measures.
Reconciliation of adjustment items (2/3)
9M21 in CHF bn
Net revenues reported
2.6
8.1
SUB in CHF bn
Net revenues reported
CH
EMEA Americas Asia Pacific
SUB
IWM
APAC
IB (USD)
3Q21 LTM
2016
5.0
3.7
6.0
3.5
4.3
2.7
5.7
5.7
Real estate (gains)/losses
(0.0)
(0.0)
Real estate gains
(0.0)
(0.4)
(Gains)/losses on business sales
0.0
0.0
0.0
(Gains)/losses on business sales
0.0
Major litigation recovery
(0.0)
(0.0)
Major litigation recovery
(0.0)
Gain on equity investment in Allfunds Group
(0.4)
(0.2)
(0.2)
(0.2)
(0.2)
o/w Gain on equity investment in Allfunds Group
(0.2)
Impairment on York Capital Management
0.1
o/w Gain on equity investment in SIX Group AG
(0.1)
Archegos
0.5
0.5
Net revenues adj. excl. sign. items and
Archegos
Net revenues adj. excl. significant items
Provision for credit losses
5.3
5.4
0.1
0.1
4.6
3.7
6.6
3.3
4.1
2.5
2.5
8.6
Total operating expenses reported
3.1
3.6
Provision for credit losses
0.0
(0.0)
4.1
0.1
0.0
(0.0)
0.0
4.5
Restructuring expenses
(0.0)
(0.1)
Archegos
(4.3)
(4.6)
Major litigation provisions
(0.0)
(0.0)
Total operating expenses reported
2.7
3.1
3.5
2.2
2.3
1.8
1.6
5.5
Expenses related to real estate disposals
(0.0)
Restructuring expenses
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
(0.1)
Expenses related to business sales
Major litigation provisions
0.0
0.0
Expenses related to equity investment in Allfunds
(0.0)
Group
Expenses related to real estate disposals
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
Total operating expenses adjusted excl. sign. items
3.1
3.5
Expenses related to business sales
Expenses related to equity investment in
Allfunds Group
Pre-tax income/(loss) reported
2.5
2.0
(0.0)
(0.0)
(0.0)
(0.0)
(0.0)
Total adjustments and significant items
(0.3)
(0.3)
Archegos
(0.0)
(0.0)
Pre-tax income/(loss) adj. excl. sign. items
2.2
1.7
Total operating expenses adj. excl. sign.
2.7
3.1
3.5
2.2
2.3
1.8
1.6
5.4
items and Archegos
Pre-tax income/(loss) reported
2.3
0.6
(1.7)
1.2
2.0
0.9
1.0
(1.8)
Total adjustments, significant items and
(0.4)
0.0
4.9
(0.2)
(0.2)
(0.2)
(0.2)
5.2
Archegos
Pre-tax income/(loss) adj. excl. sign. items
and Archegos
1.9
0.6
3.3
1.0
1.8
0.7
0.8
3.4
1 Current divisional structure
CREDIT SUISSE
2021 Investor Day
November 4, 2021
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