Regions Bank 2012 Annual Report Download - page 71

Table 2—GAAP to Non-GAAP Reconciliation
For Year Ended December 31
2012 2011 2010 2009 2008
(In millions, except per share data)
INCOME (LOSS)
Net income (loss) (GAAP) ...................................... $ 1,120 $ (215) $ (539) $ (1,031) $ (5,596)
Preferred dividends and accretion (GAAP) ......................... (129) (214) (224) (230) (26)
Net income (loss) available to common shareholders (GAAP) .......... A 991 (429) (763) (1,261) (5,622)
Income (loss) from discontinued operations, net of tax (GAAP) ......... (59) (404) (71) 43 53
Income (loss) from continuing operations available to common
shareholders (GAAP) ........................................ B $ 1,050 $ (25) $ (692) $ (1,304) $ (5,675)
Income (loss) available to common shareholders (GAAP) .............. $ 991 $ (429) $ (763) $ (1,261) $ (5,622)
Merger-related charges, pre-tax:
Salaries and employee benefits ............................... ————134
Net occupancy expense ..................................... ———— 4
Furniture and equipment expense ............................. ———— 5
Other ................................................... ———— 58
Total merger-related charges, pre-tax .......................... ————201
Merger-related charges, net of tax ................................ ————125
Goodwill impairment .......................................... — 731 — — 6,000
Regulatory charge and related income tax benefit (1) .................. — (44) 200 — —
REIT investment early termination costs, net of tax (3) ................. 38 ————
Adjusted income (loss) available to common shareholders (non-GAAP) . . C $ 1,029 $ 258 $ (563) $ (1,261) $ 503
Income (loss) from continuing operations available to common
shareholders (GAAP) ........................................ $ 1,050 $ (25) $ (692) $ (1,304) $ (5,675)
Merger-related charges, net of tax ................................ ————125
Goodwill impairment .......................................... — 253 — — 6,000
Regulatory charge and related income tax benefit (1) .................. — (17) 75 — —
REIT investment early termination costs, net of tax (3) ................. 38 ————
Adjusted income (loss) from continuing operations available to common
shareholders (non-GAAP) ..................................... D $ 1,088 $ 211 $ (617) $ (1,304) $ 450
EFFICIENCY AND FEE INCOME RATIOS
Non-interest expense from continuing operations (GAAP) ............. $ 3,526 $ 3,862 $ 3,859 $ 3,785 $ 9,895
Significant Items:
Merger-related charges ..................................... ————(201)
Goodwill impairment ...................................... — (253) — — (6,000)
Regulatory charge ......................................... — — (75) — —
Mortgage servicing rights impairment ......................... ———— (85)
Loss on extinguishment of debt .............................. (11) — (108) — (66)
FDIC special assessment .................................... — — — (64) —
Securities impairment, net ................................... (2) (2) (2) (75) (23)
Branch consolidation and property and equipment charges ......... — (75) (8) (53) —
REIT investment early termination costs (3) ..................... (42) ————
Adjusted non-interest expense (non-GAAP) ........................ E $ 3,471 $ 3,532 $ 3,666 $ 3,593 $ 3,520
Net interest income from continuing operations (GAAP) .............. $ 3,300 $ 3,410 $ 3,389 $ 3,293 $ 3,788
Taxable-equivalent adjustment ................................... 50 35 32 32 37
Net interest income from continuing operations, taxable-equivalent basis . . 3,350 3,445 3,421 3,325 3,825
Non-interest income from continuing operations (GAAP) .............. 2,100 2,143 2,489 2,765 2,132
Significant Items:
Securities gains, net ........................................ (48) (112) (394) (69) (92)
Leveraged lease termination gains, net ......................... (14) (8) (78) (587) —
Visa-related gains ......................................... — — — (80) (63)
Gain on early extinguishment of debt .......................... — — — (61) —
Loss (gain) on sale of mortgage loans .......................... — 3 (26) — —
Adjusted non-interest income (non-GAAP) ......................... F 2,038 2,026 1,991 1,968 1,977
Adjusted total revenue (non-GAAP) ............................... G $ 5,388 $ 5,471 $ 5,412 $ 5,293 $ 5,802
Fee income ratio (non-GAAP) ................................... F/G 37.82% 37.03% 36.79% 37.18% 34.07%
Efficiency ratio (non-GAAP) .................................... E/G 64.42% 64.56% 67.74% 67.88% 60.67%
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