Investor Presentation February 2024
Pre-Provision, Pre-Tax Earnings (PPPT) Reconciliation
(Canadian $ in millions unless otherwise stated)
Total Bank
Reported Income before taxes
Total provision for (recovery of) credit losses
Reported Pre-Provision, Pre-Tax Earnings (PPPT)
Acquisition and integration costs
Amortization of acquisition-related intangible assets
Legal provision
FDIC special assessment
Net loss on RV loan portfolio sale
Q1 24
Q4 23
Q3 23
Q2 23
Q1 23
1,655
2,194
1,988
1,265
500
627
446
492
1,023
217
2,282
2,640
2,480
2,288
717
(76)
(582)
(497)
(727)
(239)
(112)
(119)
(115)
(115)
(15)
(16)
(7)
(417)
(164)
Management of Fair Value Changes on the Purchase of Bank of the West
Impact of Canadian tax measures
(160)
| | |
(2,011)
Adjusted Pre-Provision, Pre-Tax Earnings (PPPT)
3,066
3,357
3,248
3,137
2,983
U.S. Segment
(USD)
Reported Income (loss) before taxes
207
452
442
(184)
(848)
Total provision for (recovery of) credit losses
226
135
165
578
36
Reported Pre-Provision, Pre-Tax Earnings (PPPT)
433
587
607
394
(812)
Acquisition and integration costs
(52)
(426)
(369)
(530)
(175)
Management of Fair Value Changes on the Purchase of Bank of the West
(1,505)
Net loss on RV loan portfolio sale
(122)
FDIC special assessment
(308)
Amortization of acquisition-related intangible assets
(79)
(82)
(82)
(82)
(5)
Canadian P&C
Legal provision
Reported Income before taxes
(11)
(11)
3
(5)
(7)
Adjusted Pre-Provision, Pre-Tax Earnings (PPPT)
1,005
1,106
1,055
1,011
880
1,273
1,271
1,213
1,135
1,308
Total provision for (recovery of) credit losses
295
265
259
241
144
Reported Pre-Provision, Pre-Tax Earnings (PPPT)
1,568
1,536
1,472
1,376
1,452
Adjusting Items impacting Non-interest expense (Pre-tax)
(1)
(2)
(8)
(3)
Acquisition and integration costs
(4)
(4)
(3)
(1)
Adjusted Pre-Provision, Pre-Tax Earnings (PPPT)
1,573
1,542
1,483
1,380
1,452
Reported Income before taxes
U.S. P&C
(USD)
BMO Wealth
Management
Total provision for (recovery of) credit losses
Reported Pre-Provision, Pre-Tax Earnings (PPPT)
Acquisition and integration costs
Adjusted Pre-Provision, Pre-Tax Earnings (PPPT)
Reported Income before taxes
Total provision for (recovery of) credit losses
Reported Pre-Provision, Pre-Tax Earnings (PPPT)
Amortization of acquisition-related intangible assets
Adjusted Pre-Provision, Pre-Tax Earnings (PPPT)
BMO Capital Markets Reported Income before taxes
Total provision for (recovery of) credit losses
Reported Pre-Provision, Pre-Tax Earnings (PPPT)
Acquisition and integration costs
522
555
493
699
644
217
129
154
52
41
739
684
647
751
685
(75)
(76)
(78)
(78)
(1)
814
760
725
829
686
318
474
528
315
198
13
1
7
4
6
331
475
535
319
204
(1)
(2)
(2)
(2)
(1)
332
477
537
321
205
495
598
378
502
618
(22)
1
10
17
(10)
473
599
388
519
608
(14)
3
(2)
(2)
(4)
Amortization of acquisition-related intangible assets
(7)
(7)
(7)
(8)
(5)
Adjusted Pre-Provision, Pre-Tax Earnings (PPPT)
494
603
397
529
617
Prior period amounts have been reclassified to conform with the current period presentation, including the retrospective application of IFRS 17
Reported and adjusted pre-provision pre-tax earnings (PPPT) are non-GAAP measures. See slide 56 for more information
Refer to footnotes (1) to (7) in the Non-GAAP and other Financial Measures table on slide 57 for details on adjusting items, and the Non-GAAP and Other Financial Measures and Summary Quarterly Earnings Trend sections
of the First Quarter 2024 MD&A for further information
BMOM
Investor Presentation ⚫ February 2024
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