KeyBank 2013 Annual Report Download - page 114

Figure 46. Selected Quarterly GAAP to Non-GAAP Reconciliations
Three months ended
dollars in millions 12-31-13 9-30-13 6-30-13 3-31-13 12-31-12 9-30-12 6-30-12 3-31-12
Tangible common equity to tangible assets at period end
Key shareholders’ equity (GAAP) $ 10,303 $ 10,206 $ 10,229 $ 10,340 $ 10,271 $ 10,251 $ 10,155 $ 10,099
Less: Intangible assets (a) 1,014 1,017 1,021 1,024 1,027 1,031 932 932
Series A Preferred Stock (b) 282 282 282 291 291 291 291 291
Tangible common equity (non-GAAP) $ 9,007 $ 8,907 $ 8,926 $ 9,025 $ 8,953 $ 8,929 $ 8,932 $ 8,876
Total assets (GAAP) $ 92,934 $ 90,708 $ 90,639 $ 89,198 $ 89,236 $ 86,950 $ 86,523 $ 87,431
Less: Intangible assets (a) 1,014 1,017 1,021 1,024 1,027 1,031 932 932
Tangible assets (non-GAAP) $ 91,920 $ 89,691 $ 89,618 $ 88,174 $ 88,209 $ 85,919 $ 85,591 $ 86,499
Tangible common equity to tangible assets ratio (non-GAAP) 9.80 % 9.93 % 9.96 % 10.24 % 10.15 % 10.39 % 10.44 % 10.26 %
Tier 1 common equity at period end
Key shareholders’ equity (GAAP) $ 10,303 $ 10,206 $ 10,229 $ 10,340 $ 10,271 $ 10,251 $ 10,155 $ 10,099
Qualifying capital securities 339 340 339 339 339 339 339 1,046
Less: Goodwill 979 979 979 979 979 979 917 917
Accumulated other comprehensive income (loss) (c) (394) (409) (359) (204) (172) (109) (109) (70)
Other assets (d) 89 96 101 106 114 121 71 69
Total Tier 1 capital (regulatory) 9,968 9,880 9,847 9,798 9,689 9,599 9,615 10,229
Less: Qualifying capital securities 339 340 339 339 339 339 339 1,046
Series A Preferred Stock (b) 282 282 282 291 291 291 291 291
Total Tier 1 common equity (non-GAAP) $ 9,347 $ 9,258 $ 9,226 $ 9,168 $ 9,059 $ 8,969 $ 8,985 $ 8,892
Net risk-weighted assets (regulatory) $ 83,328 $ 82,913 $ 82,528 $ 80,400 $ 79,734 $ 79,363 $ 77,236 $ 76,956
Tier 1 common equity ratio (non-GAAP) 11.22 % 11.17 % 11.18 % 11.40 % 11.36 % 11.30 % 11.63 % 11.55 %
Average tangible common equity
Average Key shareholders’ equity (GAAP) $ 10,272 $ 10,237 $ 10,314 $ 10,279 $ 10,261 $ 10,222 $ 10,100 $ 9,992
Less: Intangible assets (average) (e) 1,016 1,019 1,023 1,027 1,030 1,026 931 932
Series A Preferred Stock (average) 291 291 291 291 291 291 291 291
Average tangible common equity (non-GAAP) $ 8,965 $ 8,927 $ 9,000 $ 8,961 $ 8,940 $ 8,905 $ 8,878 $ 8,769
Return on average tangible common equity from continuing
operations
Net income (loss) from continuing operations attributable to
Key common shareholders (GAAP) $ 229 $ 229 $ 193 $ 196 $ 190 $ 211 $ 217 $ 195
Average tangible common equity (non-GAAP) 8,965 8,927 9,000 8,961 8,940 8,905 8,878 8,769
Return on average tangible common equity from continuing
operations (non-GAAP) 10.13 % 10.18 % 8.60 % 8.87 % 8.45 % 9.43 % 9.83 % 8.94 %
Return on average tangible common equity consolidated
Net income (loss) attributable to Key common shareholders
(GAAP) $ 224 $ 266 $ 198 $ 199 $ 197 $ 214 $ 231 $ 194
Average tangible common equity (non-GAAP) 8,965 8,927 9,000 8,961 8,940 8,905 8,878 8,769
Return on average tangible common equity consolidated
(non-GAAP) 9.91 % 11.82 % 8.82 % 9.01 % 8.77 % 9.56 % 10.46 % 8.90 %
Cash efficiency ratio
Noninterest expense (GAAP) $ 712 $ 716 $ 711 $ 681 $ 734 $ 712 $ 693 $ 679
Less: Intangible asset amortization on credit cards (GAAP) 787886——
Other intangible asset amortization (GAAP) 34344311
Adjusted noninterest expense (non-GAAP) $ 702 $ 704 $ 701 $ 669 $ 722 $ 703 $ 692 $ 678
Net interest income (GAAP) $ 583 $ 578 $ 581 $ 583 $ 601 $ 572 $ 538 $ 553
Plus: Taxable-equivalent adjustment 66566666
Noninterest income (GAAP) 453 459 429 425 439 518 457 442
Total taxable-equivalent revenue (non-GAAP) $ 1,042 $ 1,043 $ 1,015 $ 1,014 $ 1,046 $ 1,096 $ 1,001 $ 1,001
Cash efficiency ratio (non-GAAP) 67.4 % 67.5 % 69.1 % 66.0 % 69.0 % 64.1 % 69.1 % 67.7 %
Adjusted cash efficiency ratio net of efficiency initiative charges
Adjusted noninterest expense (non-GAAP) $ 702 $ 704 $ 701 $ 669 $ 722 $ 703 $ 692 $ 678
Less: Efficiency initiative and pension settlement charges
(non-GAAP) 24 41 37 15 16 9 — —
Net adjusted noninterest expense (non-GAAP) $ 678 $ 663 $ 664 $ 654 $ 706 $ 694 $ 692 $ 678
Total taxable-equivalent revenue (non-GAAP) $ 1,042 $ 1,043 $ 1,015 $ 1,014 $ 1,046 $ 1,096 $ 1,001 $ 1,001
Adjusted cash efficiency ratio net of efficiency initiative charges
(non-GAAP) 65.1 % 63.6 % 65.4 % 64.5 % 67.5 % 63.3 % 69.1 % 67.7 %
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