Bank of Montreal 2015 Annual Report Download - page 108

Supplemental Information
Table 2: Summary Income Statement and Growth Statistics
($ millions, except as noted)
For the year ended October 31 2015 2014 2013 2012 2011
5-year
CAGR
10-year
CAGR
Income Statement – Reported Results
Net interest income 8,970 8,461 8,677 8,937 7,474 7.5 6.5
Non-interest revenue 10,419 9,762 8,153 8,166 7,587 8.2 7.1
Revenue 19,389 18,223 16,830 17,103 15,061 7.9 6.8
Insurance claims, commissions and changes in policy benefit liabilities (CCPB) (1) 1,254 1,505 767 1,174 1,118 4.1 22.0
Revenue, net of CCPB 18,135 16,718 16,063 15,929 13,943 8.2 6.3
Provision for credit losses 612 561 587 764 1,212 nm nm
Non-interest expense 12,182 10,921 10,226 10,135 8,741 9.8 6.8
Income before provision for income taxes 5,341 5,236 5,250 5,030 3,990 8.4 4.8
Provision for income taxes 936 903 1,055 874 876 nm 0.7
Net income 4,405 4,333 4,195 4,156 3,114 8.8 6.3
Attributable to bank shareholders 4,370 4,277 4,130 4,082 3,041 9.2 6.2
Attributable to non-controlling interest in subsidiaries 35 56 65 74 73 nm nm
Net income 4,405 4,333 4,195 4,156 3,114 8.8 6.3
Income Statement – Adjusted Results
Net interest income 8,971 8,461 8,020 8,158 7,248 7.5 6.5
Non-interest revenue 10,420 9,762 8,119 7,882 7,612 8.2 7.1
Revenue 19,391 18,223 16,139 16,040 14,860 7.9 6.8
Insurance claims, commissions and changes in policy benefit liabilities (CCPB) (1) 1,254 1,505 767 1,174 1,118 4.1 22.0
Revenue, net of CCPB 18,137 16,718 15,372 14,866 13,742 8.2 6.3
Provision for credit losses 612 561 357 470 1,108 nm nm
Non-interest expense 11,819 10,761 9,755 9,410 8,453 9.3 6.6
Income before provision for income taxes 5,706 5,396 5,260 4,986 4,181 9.6 5.2
Provision for income taxes 1,025 943 1,037 927 906 8.2 (0.1)
Adjusted net income 4,681 4,453 4,223 4,059 3,275 9.9 7.0
Attributable to bank shareholders 4,646 4,397 4,158 3,985 3,202 9.8 6.9
Attributable to non-controlling interest in subsidiaries 35 56 65 74 73 nm nm
Adjusted net income 4,681 4,453 4,223 4,059 3,275 9.9 7.0
Earnings per Share (EPS) ($)
Basic 6.59 6.44 6.19 6.13 4.90 6.6 3.4
Diluted 6.57 6.41 6.17 6.10 4.84 6.7 3.6
Adjusted diluted 7.00 6.59 6.21 5.95 5.10 7.8 4.5
Year-over-Year Growth-Based Statistical Information (%)
Net income growth 1.7 3.3 0.9 33.5 8.0 na na
Adjusted net income growth 5.1 5.4 4.1 23.9 12.3 na na
Diluted EPS growth 2.5 3.9 1.1 26.0 1.9 na na
Adjusted diluted EPS growth 6.2 6.1 4.4 16.7 6.0 na na
Five-year and ten-year CAGR based on CGAAP in 2010 and 2005, respectively, and on IFRS in 2015. 2011 growth rates based on CGAAP in 2010 and IFRS in 2011.
2011 has not been restated to reflect the new IFRS standards adopted in 2014. The adoption of new IFRS standards in 2015 only impacted our results prospectively.
(1) Beginning in 2015, insurance claims, commissions and changes in policy benefit liabilities (CCPB) are reported separately. They were previously reported as a reduction in insurance revenue in
non-interest revenue. Prior period amounts and ratios have been reclassified.
nm – not meaningful
na – not applicable
BMO Financial Group 198th Annual Report 2015 119