Regions Bank 2011 Annual Report Download - page 80

Table 2—GAAP to Non-GAAP Reconciliation
For Years Ended December 31
2011 2010 2009 2008 2007
(In millions, except per share data)
INCOME (LOSS)
Net income (loss) (GAAP) ............................... $ (215) $ (539) $(1,031) $(5,596) $1,251
Preferred dividends and accretion (GAAP) .................. (214) (224) (230) (26) —
Net income (loss) available to common shareholders (GAAP) . . . A (429) (763) (1,261) (5,622) 1,251
Income (loss) from discontinued operations, net of tax
(GAAP) ........................................... (404) (71) 43 53 (34)
Income (loss) from continuing operations available to common
shareholders (GAAP) ................................. B $ (25) $ (692) $(1,304) $(5,675) $1,285
Income (loss) from continuing operations available to common
shareholders (GAAP) ................................. $ (25) $ (692) $(1,304) $(5,675) $1,285
Merger-related charges, pre-tax:
Salaries and employee benefits ....................... — — — 134 159
Net occupancy expense ............................. — — — 4 34
Furniture and equipment expense ..................... — — — 5 5
Other ........................................... — — — 58 153
Total merger-related charges, pre-tax .................. — — — 201 351
Merger-related charges, net of tax ......................... — — — 125 219
Goodwill impairment ................................... 253 — — 6,000 —
Regulatory charge and related income tax benefit (1) ........... (17) 75 — — —
Income (loss) from continuing operations available to common
shareholders, excluding merger, goodwill impairment and
regulatory charge and related income tax benefit
(non-GAAP) ........................................ C $ 211 $ (617) $(1,304) $ 450 $1,504
Weighted-average diluted shares .......................... D 1,258 1,227 989 695 713
Earnings (loss) per common share – diluted (GAAP) .......... A/D $(0.34) $ (0.62) $ (1.27) $ (8.09) $ 1.75
Earnings (loss) per common share from continuing operations –
diluted (GAAP) ..................................... B/D $(0.02) $ (0.56) $ (1.32) $ (8.16) $ 1.80
Earnings (loss) per common share from continuing operations,
excluding merger, goodwill impairment and regulatory charge
and related income tax benefit—diluted (non-GAAP) ....... C/D $ 0.17 $ (0.50) $ (1.32) $ 0.65 $ 2.11
EFFICIENCY AND FEE INCOME RATIOS
Non-interest expense from continuing operations (GAAP) ...... $3,862 $3,859 $ 3,785 $ 9,895 $3,821
Adjustments:
Merger-related charges ............................. — — — (201) (351)
Goodwill impairment ............................... (253) — — (6,000) —
Regulatory charge ................................. — (75) — — —
Mortgage servicing rights impairment .................. — — — (85) (6)
Loss on extinguishment of debt ....................... — (108) — (66) —
FDIC special assessment ............................ — — (64) — —
Securities impairment, net ........................... (2) (2) (75) (23) (7)
Branch consolidation and property and equipment
charges ........................................ (75) (8) (53) — —
Adjusted non-interest expense (non-GAAP) ................. E $3,532 $3,666 $ 3,593 $ 3,520 $3,457
Net interest income from continuing operations, fully- taxable
equivalent basis (GAAP) .............................. $3,445 $3,421 $ 3,325 $ 3,825 $4,364
Non-interest income from continuing operations (GAAP) ...... 2,143 2,489 2,765 2,132 1,918
Adjustments:
Securities (gains) losses, net ......................... (112) (394) (69) (92) 9
Leveraged lease termination gains ..................... (8) (78) (587) — —
Visa-related gains .................................. — — (80) (63) —
Gain on early extinguishment of debt .................. — — (61) — —
Gain on sale of mortgage loans ....................... 3 (26) — — —
Adjusted non-interest income (non-GAAP) ................. F 2,026 1,991 1,968 1,977 1,927
Adjusted total revenue (non-GAAP) ....................... G $5,471 $5,412 $ 5,293 $ 5,802 $6,291
Fee income ratio (non-GAAP) ............................ F/G 37.03% 36.79% 37.18% 34.07% 30.63%
Efficiency ratio (non-GAAP) ............................. E/G 64.56% 67.74% 67.88% 60.67% 54.95%
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