Company: CFG-PE
Filing Date: 2025-02-13
Form Type: 10-K
Source: 0000759944-25-000013
Chunk: 380

Company: CITIZENS FINANCIAL GROUP INC/RI
Filing Date: 2025-02-13
Form: 10-K
Item: Item 7
Chunk 380
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 factor, which increases from a minimum of three to a maximum of four, depending on the number of exceptions, did not change during 2024 based on the Company’s two observed exceptions during the year. Further, we perform sub-portfolio backtesting as required under the Market Risk Rule, using models approved by our banking regulators for interest rate, credit spread, commodity and foreign exchange positions.

Citizens Financial Group, Inc. | 77

NON-GAAP FINANCIAL MEASURES AND RECONCILIATIONS

For more information on the computation of non-GAAP financial measures, see “Introduction — Non-GAAP Financial Measures,” included in this Report. The following table presents computations of non-GAAP financial measures representing our “Underlying” results used in the MD&A:

Table 31: Reconciliations of Non-GAAP Measures

Year Ended December 31,(dollars in millions, except per share data)Ref.       2024       2023Noninterest income, Underlying:Noninterest income (GAAP)A$2,176 $1,983 Less: Notable items15 — Noninterest income, Underlying (non-GAAP)B$2,161 $1,983 Total revenue, Underlying:Total revenue (GAAP)C$7,809 $8,224 Less: Notable items15 — Total revenue, Underlying (non-GAAP)D$7,794 $8,224 Noninterest expense, Underlying:Noninterest expense (GAAP)E$5,234 $5,507 Less: Notable items156 506 Noninterest expense, Underlying (non-GAAP)F$5,078 $5,001 Pre-provision profit:Total revenue (GAAP)C$7,809 $8,224 Less: Noninterest expense (GAAP)E5,234 5,507 Pre-provision profit (non-GAAP)$2,575 $2,717 Pre-provision profit, Underlying:Total revenue, Underlying (non-GAAP)D$7,794 $8,224 Less: Noninterest expense, Underlying (non-GAAP)F5,078 5,001 Pre-provision profit, Underlying (non-GAAP)$2,716 $3,223 Income before income tax expense, Underlying:Income before income tax expense (GAAP)G$