Ally Bank 2015 Annual Report Download - page 6

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($ millions) FY
20
1
5
FY
20
1
4
Core pre-tax income
,
ex. re
p
ositionin
g
item
s
1
$ 1,801 $ 1,61
9
R
epositioning items2(
3
4
9)
(1
8
7)
C
ore pre-tax income $ 1,452
$
1,43
2
O
ID amortization ex
p
ense
3
59
1
8
6
I
ncome tax expens
e
496
3
2
1
Income from discontinued o
p
erations,
n
et o
f
ta
x
392
225
G
AAP net income
$
1,28
9
$
1,150
2015 Financial Highlights
(1) Core pre-tax income as presented excludes the impact of repositioning
items, OID amortization expense, income tax expense and discontinued
operations
(2) Repositioning items are primarily related to the extinguishment of high-
cost legacy debt
(3) Includes accelerated OID expense of $14 million in 2015 and $14 million
in 2014
Core Pre-Tax Income
Core Return on Tangible Common Equity (ROTCE)
Adjusted Earnings Per Share
Adjusted Tangible Book Value per Share
The following information includes reconciliations of non-GAAP nancial measures presented in the CEO letter and certain other nancial highlights.
NOTE: Numbers may not foot due to rounding.
2014 2015
Chrysler GM Standard GM SubventedGrowth
$8.3 +53%
+41%
+21%
$12.7
$9.6
$15.2
$3.4
$6.8
$12.6
$13.3
%Ƃ YoY$41.0 $41.0
2010 2011 2012 2013 2014 2015
4.0 4.4 4.8 5.1 5.3 5.5
7% CAGR
Customer Growth (millions)
($
per share
)
FY
20
15 FY
20
1
4
F
Y
20
13
G
AAP shareholder’s equit
y
$
27.9
$
32.1
$
29.6
P
referred equity & goodwill
(
1.5
)
(
2.7
)
(
2.7
)
T
angi
bl
e common equity
26
.4
29
.4
26
.
9
Tax-eect bond
O
ID
(
tax rate of
3
4%
)
(
1.8
)
(
1.
9)
(2
.1
)
S
eries
G
discoun
t
–
(4.
9
)
(
4.
9)
A
djusted tangible
b
oo
k
va
l
ue
p
er s
h
are
$
24.
6
$
22.
7
$
20.
0
($ millions)
F
Y 2
0
1
5
FY 2
0
14
P
re-tax income from continuin
g
operation
s
$
1
,
39
3
$ 1
,
24
6
C
ore OID expens
e
59
18
6
R
epositioning item
s
3
4
9
1
8
7
C
ore pre-tax income (ex. repositioning
)
$
1
,
80
1
$
1
,
619
N
ormalized income tax expense at 34
%
6
12
550
C
ore net income 1,189 1,
069
P
referred dividends (
S
eries A
&
G
)
200
26
8
Operating net income available
to
co
mm
o
n
sh
ar
eholde
r
s
$
990
$
800
T
an
g
ible common equit
y
1
$
13,41
6
$
13,522
U
namortized core
O
I
D
(1,
32
7)
(
1,441
)
N
et deferred tax asse
t
(1,5
8
3
)
(1,923)
N
orma
l
ize
d
common equit
y
2
$
10,506 $ 10,157
C
ore ROTCE
1
9
.4
%
7.9
%
(
1) Includes GAAP common equity less preferred stock and goodwil
l
(
2
)
Normalized common equity calculated using 2 period averag
e
(
$ per share
)
F
Y
20
1
5
F
Y
20
1
4
G
AAP EPS
(
diluted
)
$
(
2.66
)
$ 1.8
3
C
apital actions
(S
eries A and
G)
4
.
90
–
Discontinued operations, net o
f
ta
x
(
0.
8
1)
(0
.47)
OID expense, net of ta
x
0.0
8
0
.25
R
epositioning
/
ot
h
e
r
1
0
.4
8
0
.
07
Ad
j
usted EP
S
$
2.00
$
1.6
8
(
1
)
Repositioning items are primarily related to the extinguishment of high-
c
ost legacy debt and a discrete tax item in
20
14
Diversied Origination Channels ($ billions)
IV