Third Quarter 2022 Earnings Conference Call
Non-GAAP reconciliations
Return on average common equity and average tangible common equity
($ MM)
Net income available to common shareholders - GAAP
Merger-related and restructuring charges
Securities (gains) losses
Loss (gain) on early extinguishment of debt
Incremental operating expenses related to the merger
Professional fee accrual
Sept. 30
2022
$
1,536
48
1
June 30
As of Quarter Ended
March 31
Dec. 31
2022
2022
2021
Sept. 30
2021
1,454
92
$
1,327
$
1,524
$
1,616
166
163
132
53
69
(30)
89
155
55
(57)
165
147
23
Gain on redemption of noncontrolling equity interest
Net income available to common shareholders - adjusted
Amortization
1,654
1,605
1,644
107
109
105
1,852
110
1,918
113
Net income available to common shareholders - tangible adjusted
$
1,761
1,714
$
1,749
1,962
2,031
Average common shareholders' equity
$
56,813
56,803
$
60,117
$
61,807
$
62,680
Plus: Estimated impact of adjustments on denominator
Average common shareholders' equity - adjusted
59
76
158
164
151
56,872
56,879
60,275
61,971
62,831
Less: Average intangible assets
Average tangible common shareholders' equity-adjusted
29,035
29,173
28,905
27,523
27,149
$
27,837
$
27,706
$
31,370
$
34,448
$
35,682
Return on average common shareholders equity - GAAP
Return on average common shareholders equity - adjusted (1)
Return on average tangible common shareholders equity - adjusted (1)
10.7 %
10.3 %
9.0 %
9.8 %
10.2 %
11.5 %
25.1
11.3 %
11.1 %
11.9 %
12.1 %
24.8
22.6
22.6
22.6
(1)
The adjusted performance ratios, including adjusted return on average assets, adjusted return on average common shareholders' equity, and adjusted return on average tangible common shareholders' equity,
are non-GAAP in that they exclude merger-related and restructuring charges, selected items, and, in the case of return on average tangible common shareholders' equity, amortization of intangible assets.
Truist's management uses these measures in their analysis of the Corporation's performance. Truist's management believes these measures provide a greater understanding of ongoing operations and enhance
comparability of results with prior periods, as well as demonstrate the effects of significant gains and charges. These measures are not necessarily comparable to similar measures that may be presented by
other companies.
TRUIST HH
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