Investor Presentaiton
GAAP and Core Results: Quarterly
4Q 2023 Preliminary Results
4Q 23
3Q 23
2Q 23
1Q 23
4Q 22
($ millions, except per share data)
GAAP net income attributable to common shareholders (NIAC)
Core net income attributable to common shareholders (1)(2)
$
49
$
137
SA SA
269
252
SA SA
$ 301
291
SA SA
$
291
$
250
SASA
251
327
GAAP earnings per common share (EPS) (diluted, NIAC)
Adjusted EPS (1)(2)
$
0.16
$
0.45
SAS
0.88
$ 0.99
0.83
0.96
SA SA
0.96
0.83
0.82
1.08
Return on GAAP common shareholders' equity
Core ROTCE (1)(2)
GAAP common shareholders' equity per share
1.8%
9.9%
10.8%
10.8%
9.7%
6.9%
12.9%
13.9%
12.5%
17.6%
37.83
$ 34.81
$
37.16
36.75
35.20
Adjusted tangible book value per share (Adjusted TBVPS) (1) (2)
33.34
$ 29.79
32.08
31.59
29.96
Efficiency ratio
68.5%
62.6%
60.1%
60.3%
57.5%
Adjusted efficiency ratio (1)(2)
55.7%
52.1%
51.7%
55.8%
50.6%
GAAP total net revenue
Adjusted total net revenue (1)(2)
$ 2,067
$ 2,006
SASA
1,968
$ 2,036
$
2,079
$ 2,100
2,201
2,066
2,047
$ 2,163
Pre-provision net revenue
Core pre-provision net revenue
(1)(2)
651
(1)(2)
777
SA SA
736
830
834
935
834
A
817
781
954
Effective tax rate
-20.3%
-29.8%
18.4%
17.5%
37.5%
(1) The following are non-GAAP financial measures which Ally believes are important to the reader of the Consolidated Financial Statements, but which are supplemental to and not a substitute for GAAP measures: Accelerated
issuance expense (Accelerated OID), Adjusted earnings per share (Adjusted EPS), Adjusted efficiency ratio, Adjusted noninterest expense, Adjusted other revenue, Adjusted tangible book value per share (Adjusted TBVPS),
Adjusted total net revenue, Core net income attributable to common shareholders, Core original issue discount (Core OID) amortization expense, Core outstanding original issue discount balance (Core OID balance), Core pre-
provision net revenue (Core PPNR), Core pre-tax income, Core return on tangible common equity (Core ROTCE), Investment income and other (adjusted), Net financing revenue (excluding Core OID), Net interest margin (excluding
Core OID), Pre-provision net revenue (PPNR), and Tangible Common Equity. These measures are used by management, and we believe are useful to investors in assessing the company's operating performance and capital.
Refer to the Definitions of Non-GAAP Financial Measures and Other Key Terms, and Reconciliation to GAAP later in this document.
(2) Non-GAAP financial measure - see pages 35-37 for definitions.
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