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Table 20 – Reconcilement of Non-US GAAP Measures – Annual
Twelve Months Ended December 31
(Dollars in millions, except per share and other data) 2006 2005 2004 2003 2002 2001
Net income $2,117.4 $1,987.2 $1,572.9 $1,332.3 $1,331.8 $1,375.5
Securities losses/(gains), net of tax 31.3 4.4 27.1 (80.5) (133.0) (99.5)
Net income excluding net securities gains and losses 2,148.7 1,991.6 1,600.0 1,251.8 1,198.8 1,276.0
The Coca-Cola Company dividend, net of tax (53.3) (48.1) (43.0) (37.8) (34.4) (30.9)
Net income excluding net securities gains and losses and The Coca-Cola Company
dividend, net of tax $2,095.4 $1,943.5 $1,557.0 $1,214.0 $1,164.4 $1,245.1
Preferred stock dividends 7.7 -----
Net income available to common shareholders excluding net securities (gains)/losses
and The Coca-Cola Company dividend, net of tax $2,087.7 $1,943.5 $1,557.0 $1,214.0 $1,164.4 $1,245.1
Net income $2,117.4 $1,987.2 $1,572.9 $1,332.3 $1,331.8 $1,375.5
Merger expense, net of tax -61.1 18.5 - 39.8 -
Net income excluding merger expense $2,117.4 $2,048.3 $1,591.4 $1,332.3 $1,371.6 $1,375.5
Noninterest expense $4,879.9 $4,690.7 $3,897.0 $3,400.6 $3,219.4 $2,999.9
Merger expense -(98.6) (28.4) - (16.0) -
Noninterest expense excluding merger expense $4,879.9 $4,592.1 $3,868.6 $3,400.6 $3,203.4 $2,999.9
Diluted earnings per common share $5.82 $5.47 $5.19 $4.73 $4.66 $4.72
Impact of excluding merger expense -0.17 0.06 - 0.14 -
Diluted earnings per common share excluding merger expense $5.82 $5.64 $5.25 $4.73 $4.80 $4.72
Efficiency ratio 59.39 % 60.06 % 61.39 % 59.99 % 57.99 % 56.12 %
Impact of excluding merger expense -(1.26) (0.45) - (0.29) -
Efficiency ratio excluding merger expense 59.39 % 58.80 % 60.94 % 59.99 % 57.70 % 56.12 %
Efficiency ratio 59.39 % 60.06 % 61.39 % 59.99 % 57.99 % 56.12 %
Impact of excluding amortization of intangible assets (1.26) (1.52) (1.22) (1.13) (1.06) (0.86)
Tangible efficiency ratio 58.13 % 58.54 % 60.17 % 58.86 % 56.93 % 55.26 %
Total average assets $180,315.1 $168,088.8 $133,754.3 $122,325.4 $108,516.1 $102,884.2
Average net unrealized securities gains (1,620.5) (1,949.4) (2,372.2) (2,343.0) (2,731.8) (2,700.0)
Average assets less net unrealized securities gains $178,694.6 $166,139.4 $131,382.1 $119,982.4 $105,784.3 $100,184.2
Total average common shareholders’ equity $17,394.7 $16,526.3 $11,469.5 $9,083.0 $8,725.7 $8,073.8
Average accumulated other comprehensive income (976.0) (1,220.5) (1,517.2) (1,486.1) (1,741.1) (1,745.8)
Total average realized common shareholders’ equity $16,418.7 $15,305.8 $9,952.3 $7,596.9 $6,984.6 $6,328.0
Return on average total assets 1.17 % 1.18 % 1.18 % 1.09 % 1.23 % 1.34 %
Impact of excluding net realized and unrealized securities gains/losses and The
Coca-Cola Company dividend -(0.01) 0.01 (0.08) (0.13) (0.10)
Return on average total assets less net realized and unrealized securities gains/losses
and The Coca-Cola Company dividend 11.17 % 1.17 % 1.19 % 1.01 % 1.10 % 1.24 %
Return on average common shareholders’ equity 12.13 % 12.02 % 13.71 % 14.67 % 15.26 % 17.04 %
Impact of excluding net realized and unrealized securities gains/losses and The Coca-
Cola Company dividend 0.59 0.68 1.94 1.31 1.41 2.64
Return on average realized common shareholders’ equity 212.72 % 12.70 % 15.65 % 15.98 % 16.67 % 19.68 %
Total shareholders’ equity $17,813.6 $16,887.4 $15,986.9 $9,731.2 $8,769.5 $8,359.6
Goodwill (6,889.8) (6,835.1) (6,806.0) (1,077.7) (963.7) (440.5)
Other intangible assets including mortgage servicing rights (“MSRs”) (1,182.0) (1,123.0) (1,061.5) (639.6) (612.2) (370.8)
Mortgage servicing rights 810.5 657.6 482.4 449.3 383.9 351.2
Tangible equity $10,552.3 $9,586.9 $8,601.8 $8,463.2 $7,577.5 $7,899.5
Total assets $182,161.6 $179,712.8 $158,869.8 $125,393.2 $117,322.5 $104,740.6
Goodwill (6,889.8) (6,835.1) (6,806.0) (1,077.7) (963.7) (440.5)
Other intangible assets including MSRs (1,182.0) (1,123.0) (1,061.5) (639.6) (612.2) (370.8)
Mortgage servicing rights 810.5 657.6 482.4 449.3 383.9 351.2
Tangible assets $174,900.3 $172,412.3 $151,484.7 $124,125.2 $116,130.5 $104,280.5
Tangible equity to tangible assets 6.03 % 5.56 % 5.68 % 6.82 % 6.52 % 7.58 %
Net interest income $4,660.4 $4,579.0 $3,685.2 $3,320.3 $3,243.7 $3,252.6
Taxable equivalent adjustment 88.0 75.5 58.4 45.0 39.5 40.8
Net interest income - FTE 4,748.4 4,654.5 3,743.6 3,365.3 3,283.2 3,293.4
Noninterest income 3,468.4 3,155.0 2,604.4 2,303.0 2,268.8 2,051.9
Total revenue - FTE 8,216.8 7,809.5 6,348.0 5,668.3 5,552.0 5,345.3
Net securities losses/(gains) 50.5 7.2 41.7 (123.9) (204.5) (153.1)
Net gain on sale of Bond Trustee business (112.8) -----
Total revenue - FTE excluding net securities losses/(gains) and net gain on sale of Bond
Trustee Business $8,154.5 $7,816.7 $6,389.7 $5,544.4 $5,347.5 $5,192.2
1Computed by dividing annualized net income excluding net securities gains/losses and The Coca-Cola Company dividend, by average assets less net unrealized securities gains.
2Computed by dividing annualized net income available to common shareholders excluding net securities gains/losses and The Coca-Cola Company dividend, by average realized common shareholders’ equity.
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