Company: TFC
Filing Date: 2025-02-25
Form Type: 10-K
Source: 0000092230-25-000020
Chunk: 279

Company: TRUIST FINANCIAL CORP
Filing Date: 2025-02-25
Form: 10-K
Item: Item 5
Chunk 279
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 or $0.04 per share).

•Results from continuing operations for 2023 included a non-cash goodwill impairment charge of $6.1 billion ($4.56 per share), the FDIC special assessment of $507 million ($387 million after-tax, or $0.29 per share), restructuring charges of $320 million ($244 million after-tax, or $0.18 per share), and a discrete tax benefit of $204 million ($0.15 per share).

Net income from discontinued operations was $4.9 billion for 2024, compared to $456 million for 2023.

•Results from discontinued operations for 2024 included a gain on the sale of TIH of $6.9 billion ($4.8 billion after-tax, or $3.64 per share), the accelerated recognition of TIH equity compensation expense for certain event-driven awards of $99 million ($76 million after tax, or $0.06 per share), and restructuring charges of $82 million ($62 million after-tax, or $0.05 per share).

•Results from discontinued operations for 2023 included restructuring charges of $55 million ($42 million after-tax, or $0.03 per share).

Table 8: Earnings HighlightsYear Ended December 31,(Dollars in millions)Change2024202320222024 vs. 20232023 vs. 2022Net income (loss) available to common shareholders$4,469 $(1,452)$5,927 $5,921 $(7,379)Diluted earnings per common share3.36 (1.09)4.43 4.45 (5.52)Net interest income - TE$14,303 $14,744 $14,455 $(441)$289 Noninterest income(813)5,498 5,660 (6,311)(162)Total taxable-equivalent revenue$13,490 $20,242 $20,115 $(6,752)$127 Less taxable-equivalent adjustment212 220 142 Total revenue$13,278 $20,022 $19,973 Return on average assets0.92 %(0.19)%1.15 %1.11 %(1.34)%Return on average common shareholders’ equity8.0 (2.6)10.4 10.6 (13.0)Net interest margin - TE3.03 2