Company: FCNCB
Filing Date: 2025-08-08
Form Type: 10-Q
Source: 0000798941-25-000040
Chunk: 86

Company: FIRST CITIZENS BANCSHARES INC /DE/
Filing Date: 2025-08-08
Form: 10-Q
Item: Item 2
Chunk 86
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451 418 446 869 886 Revenue, net of depreciation (non-GAAP)c-a407 374 398 781 792 Total noninterest expense (GAAP)d267 275 246 542 506 Noninterest expense, net of depreciation (non-GAAP)d-a223 231 198 454 412 

Rail segment net income, rental income on operating lease equipment and net rental income on operating lease equipment are utilized to measure profitability. Net rental income on operating lease equipment is calculated as rental income on operating lease equipment reduced by depreciation, maintenance and other operating lease expenses. Due to the nature of our portfolio, which is essentially all operating lease equipment, certain financial measures commonly used by banks, such as NII, are not as meaningful for this segment. NII is not used because it includes the impact of debt costs funding our operating lease assets but excludes the associated net rental income.

Table 56

Rail Segment  

dollars in millionsThree Months EndedSix Months EndedJune 30, 2025March 31, 2025June 30, 2024June 30, 2025June 30, 2024Rental income on operating leases (GAAP)$218 $214 $201 $432 $399 Less: depreciation on operating lease equipmenta56 54 50 110 100 Less: maintenance and other operating lease expensesb55 58 60 113 105 Net rental income on operating lease equipment (non-GAAP)$107 $102 $91 $209 $194 Total noninterest income (GAAP)c$221 $216 $203 $437 $405 Noninterest income, net of depreciation and maintenance (non-GAAP)c-a-b110 104 93 214 200 Total revenue (GAAP)d168 164 158 332 317 Revenue, net of depreciation and maintenance (non-GAAP)d-a-b57 52 48 109 112 Total noninterest expense (GAAP)e143 134 131 277 248 Noninterest expense, net of depreciation and maintenance (non-GAAP)e-a-b32 22 21 54 43 

105

NII, NIM, and Interest and Fees on Loans, Excluding PAA

NII and NIM, excluding PAA, and interest and fees on loans, excluding loan PAA are meaningful metrics as they allow management to analyze N