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Adjusted results in the foregoing Corporate Services section are non-GAAP amounts or non-GAAP measures. Please see the Non-GAAP Measures section.
----------------------------------------------------------------------------Non-GAAP Measures (1) Table 28----------------------------------------------------------------------------(Canadian $ in millions, except as noted) Q1-2013 Q4-2012 Q1-2012----------------------------------------------------------------------------Reported ResultsRevenue 4,081 4,176 4,117Non-interest expense (2,590) (2,701) (2,554)----------------------------------------------------------------------------Pre-provision, pre-tax earnings 1,491 1,475 1,563Provision for credit losses (178) (192) (141)Provision for income taxes (265) (201) (313)----------------------------------------------------------------------------Net Income 1,048 1,082 1,109--------------------------------------------------------------------------------------------------------------------------------------------------------Reported Measures (% except as noted)EPS ($) 1.53 1.59 1.63Net income growth (5) 41 34EPS growth (6) 43 22Revenue growth (1) 9 19Non-interest expense growth 1 11 24Efficiency ratio 63.5 64.7 62.0Operating leverage (2.3) (1.7) (5.4)Return on equity 14.9 15.6 17.2--------------------------------------------------------------------------------------------------------------------------------------------------------Adjusting Items (Pre-tax)Credit-related items on the M&I purchased performing loan portfolio (2) 128 57 184M&I integration costs (3) (92) (153) (70)Amortization of acquisition-related intangible assets (3) (31) (34) (34)Decrease (increase) in the collective allowance for credit losses - 49 -Run-off structured credit activities (4) 7 67 136Restructuring costs (3) - (74) (68)----------------------------------------------------------------------------Adjusting items included in reported pre- tax income 12 (88) 148--------------------------------------------------------------------------------------------------------------------------------------------------------Adjusting Items (After tax)Credit-related items on the M&I purchased performing loan portfolio 79 35 114M&I integration costs (57) (95) (43)Amortization of acquisition-related intangible assets (22) (24) (24)Decrease (increase) in the collective allowance for credit losses - 27 -Run-off structured credit activities 7 67 136Restructuring costs - (53) (46)--------------------------------------------------------------------------------------------------------------------------------------------------------Adjusting items included in reported after- tax net income 7 (43) 137EPS ($) 0.01 (0.06) 0.21--------------------------------------------------------------------------------------------------------------------------------------------------------Adjusted Results (1)Revenue 3,861 3,920 3,743Non-interest expense (2,464) (2,436) (2,378)----------------------------------------------------------------------------Pre-provision, pre-tax earnings 1,397 1,484 1,365Provision for credit losses (96) (113) (91)Provision for income taxes (260) (246) (302)----------------------------------------------------------------------------Adjusted net Income 1,041 1,125 972--------------------------------------------------------------------------------------------------------------------------------------------------------Adjusted Measures (% except as noted) (1)EPS ($) 1.52 1.65 1.42Net income growth 7 35 19EPS growth 7 38 8Revenue growth 3 7 9Non-interest expense growth 4 4 16Efficiency ratio 63.8 62.2 63.5Operating leverage (0.4) 2.7 (7.6)Return on equity 14.8 16.3 15.0--------------------------------------------------------------------------------------------------------------------------------------------------------(1) Adjusted results in this table are non-GAAP amounts or non-GAAP measures.(2) Comprised of $210 million of net interest income and $82 million of specific provisions for credit losses in Q1-2013; $185 million of net interest income, $103 million of specific provisions for credit losses and $25 million of collective provisions in Q4-2012; and $234 million of net interest income, $31 million of specific provisions for credit losses and $19 million of collective provisions in Q1-2012.(3) Included in non-interest expense.(4) Substantially all included in trading revenue, in non-interest revenue.
