Company: CFG-PE
Filing Date: 2025-11-03
Form Type: 10-Q
Source: 0000759944-25-000153
Chunk: 230

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-11-03
Form: 10-Q
Item: Part I, Item 2
Chunk 230
---
 result, requires entities to start capitalizing software costs when both of the following occur: 1) Management has authorized and committed to funding the software project, and 2) It is probable the project will be completed and the software will be used to perform the function intended•Requires software costs to be expensed as incurred prior to meeting the capitalization requirements noted above•Allows for adoption on a prospective, modified transition, or retrospective basis•Required effective date: January 1, 2028. Early adoption is permitted.•We are currently evaluating the impact of this ASU on our Consolidated Financial Statements.

Citizens Financial Group, Inc. | 34

NON-GAAP FINANCIAL MEASURES

This document contains non-GAAP financial measures that we believe provide useful information to investors to understand our results of operations or financial condition. We caution investors not to place undue reliance on such non-GAAP financial measures, but to consider them with the most directly comparable GAAP financial measures. Non-GAAP financial measures have limitations as analytical tools and should not be considered in isolation or as a substitute for our results reported under GAAP.

The following tables present the computation of non-GAAP financial measures used in the MD&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)September 30, 2025December 31, 2024Book value per common share(1)$54.97 $50.26 Tangible book value per common share:Common stockholders' equity$23,718 $22,141 Less: Goodwill8,187 8,187 Less: Other intangible assets123 146 Add: Deferred tax liabilities related to goodwill and other intangible assets440 438 Tangible common equity (non-GAAP)(2)$15,848 $14,246 Common shares outstanding at period end431,453,142 440,543,381 Tangible book value per common share (non-GAAP)(3)$36.73 $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.