Investor Presentaiton
3Q 2023 Financial Results
3Q 2023 Preliminary Results
Increase (Decrease) vs.
Consolidated Income Statement
($ millions, except per share data)
Net financing revenue
Core OID (1)
3Q 23
2Q 23
3Q 22
2Q 23
3Q 22
1,533
$ 1,573
$
1,719
(40)
(186)
12
12
11
0
2
(1)
Net financing revenue (ex. Core OID)
1,545
1,585
1,730
(40)
(184)
Other revenue
435
506
297
(71)
138
Repositioning and change in fair value of equity securities
(2)
56
(25)
62
81
Adjusted other revenue (1)
491
481
359
10
132
Provision for credit losses
508
427
438
81
70
Memo: Net charge-offs
456
399
276
57
180
Memo: Provision build / (release)
52
28
162
24
(110)
Noninterest expense
Repositioning items (2)
1,232
1,249
1,161
(17)
71
Adjusted noninterest expense
Pre-tax income
Income tax expense
Net loss from discontinued operations
Net income
Preferred stock dividends
Net income attributable to common stockholders
GAAP EPS (diluted)
Restructuring Cost
(1)
30
20
30
10
1,202
1,249
1,141
(47)
61
$
228
$
403
$
417
$ (175)
$ (189)
(68)
74
117
(142)
(185)
(1)
1
SA
296
$
329
$
299
(33)
EA
(3)
27
28
27
(1)
$ 269
$
301
272
$
(32)
(3)
$ 0.88
$ 0.99
$ 0.88
$ (0.11)
$ 0.00
Core OID, net of tax
(1)
0.03
0.03
0.03
0.00
0.00
Change in fair value of equity securities, net of tax
(2)
Repositioning, discontinued ops., and other, net of tax
Significant discrete tax items
(2)
Adjusted EPS (1)
0.14
(0.06)
0.16
0.21
(0.01)
0.08
0.05
0.08
(0.31)
(0.31)
0.02
(0.31)
$ 0.83
$ 0.96
$ 1.12
$(0.13)
$ (0.29)
(1)
Non-GAAP financial measure. See pages 35-37 for definitions.
(2) Contains Non-GAAP financial measures and other financial measures. See pages 35 - 38 for definitions.
Note: Repositioning items represent restructuring costs in 3Q '23 and costs associated with termination of legacy qualified pension plan in 3Q '22.
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