Company: CFG-PE
Filing Date: 2025-05-01
Form Type: 10-Q
Source: 0000759944-25-000070
Chunk: 137

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-05-01
Form: 10-Q
Item: Part I, Item 2
Chunk 137
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 Tangible common equity (non-GAAP)(2)$14,867 $14,246 Common shares outstanding at period end437,668,127 440,543,381 Tangible book value per common share (non-GAAP)(3)$33.97 $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 25: Reconciliation of Return on Average Tangible Common Equity (non-GAAP) Three Months Ended March 31,(dollars in millions)20252024Return on average common equity(1)6.21 %5.63 %Net income available to common stockholders$340 $304 Net income available to common stockholders (annualized)1,378 1,221 Return on average tangible common equity:Average common equity$22,188 $21,700 Less: Average goodwill8,187 8,188 Less: Average other intangibles142 153 Add: Average deferred tax liabilities related to goodwill and other intangible assets438 433 Average tangible common equity (non-GAAP)(2)$14,297 $13,792 Return on average tangible common equity (non-GAAP)(3)9.64 %8.86 %

(1) Represents the most directly comparable GAAP financial measure to return on average tangible common equity and is calculated based on annualized net income available to common stockholders divided by average common equity.

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

(3) Return on average tangible common equity is a non-GAAP financial measure and is calculated based on annualized net income available to common stockholders divided by average tangible common equity. We believe this non-GAAP financial measure serves as a useful tool to compare the profitability of financial