Company: CFG-PE
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000759944-25-000108
Chunk: 221

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 2
Chunk 221
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&A, as well as the reconciliation to the comparable GAAP financial measure, as applicable:

Table 23: Reconciliation of Tangible Book Value per Common Share (non-GAAP)(dollars in millions, except per share data)June 30, 2025December 31, 2024Book value per common share(1)$53.43 $50.26 Tangible book value per common share:Common stockholders' equity$23,121 $22,141 Less: Goodwill8,187 8,187 Less: Other intangible assets128 146 Add: Deferred tax liabilities related to goodwill and other intangible assets440 438 Tangible common equity (non-GAAP)(2)$15,246 $14,246 Common shares outstanding at period end432,768,811 440,543,381 Tangible book value per common share (non-GAAP)(3)$35.23 $32.34 

(1) Represents the most directly comparable GAAP financial measure to tangible book value per common share and is calculated based on common stockholders’ equity divided by common shares outstanding at period end.

(2) Tangible common equity is a non-GAAP financial measure that excludes the impact of intangible assets, net of deferred taxes.

(3) Tangible book value per common share is a non-GAAP financial measure and is calculated based on tangible common equity divided by common shares outstanding at period end. We believe this non-GAAP financial measure serves as a useful tool to help evaluate the strength and discipline of a company’s capital management strategies and as a conservative measure of total company value.

Table 24: Reconciliation of Return on Average Tangible Common Equity (non-GAAP) Three Months Ended June 30,Six Months Ended June 30,(dollars in millions)2025202420252024Return on average common equity(1)7.18 %6.70 %6.70 %6.16 %Net income available to common stockholders$402 $357 $742 $661 Net income available to common stockholders (annualized)1,614 1,436 1,497 1,329 Return on average tangible common equity:Average common equity$22,494 $21,427 $22,342 $21,563 Less: Average goodwill8,187 8,188 8,187 8,188 Less: Average other