Company: CFG-PE
Filing Date: 2025-08-04
Form Type: 10-Q
Source: 0000759944-25-000108
Chunk: 220

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-08-04
Form: 10-Q
Item: Part I, Item 2
Chunk 220
---
 material impact on our estimation of expected credit losses.

For additional information regarding the ACL, see Note 4 and “Critical Accounting Estimates - Allowance for Credit Losses” and Note 6 in our 2024 Form 10-K.

ACCOUNTING AND REPORTING DEVELOPMENTS

Accounting standards issued but not adopted as of June 30, 2025

PronouncementSummary of GuidanceEffects on Financial StatementsImprovements to Income Tax DisclosuresIssued December 2023•Requires a tabular income tax rate reconciliation that includes specific categories and other significant categories, disaggregated by nature, that exceed 5% of income tax expense at the statutory tax rate•Requires disclosure of income taxes paid, net of refunds received, disaggregated by federal, state, and foreign taxes, and further disaggregated by individual jurisdictions that exceed 5% of total income taxes paid, net of refunds received•Requires disclosure of pre-tax income disaggregated between domestic and foreign, and income tax expense disaggregated by federal, state, and foreign•The amendments should be applied on a prospective basis but retrospective application is permitted•Required effective date: Annual financial statements for the year ending December 31, 2025. We do not intend to early adopt.•We expect to provide additional disaggregated income tax disclosures in accordance with this ASU.Disaggregation of Income Statement Expenses   Issued November 2024•Requires tabular disclosure of certain expense types, including employee compensation, depreciation, intangible asset amortization and selling expenses •Requires a qualitative description of the amounts remaining in relevant expense captions that are not separately disaggregated quantitatively•Allows for adoption on either a prospective or retrospective basis•Required effective date: Annual financial statements for the year ending December 31, 2027, and interim reporting periods thereafter. Early adoption is permitted.•We are currently evaluating the impact of this ASU on our required expense disclosures in the Consolidated Financial Statements.

Citizens Financial Group, Inc. | 33

NON-GAAP FINANCIAL MEASURES

This document contains non-GAAP financial measures that we believe provide useful information to investors in understanding 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