Businesses Adjusted Results

Adjusted Results

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Adjusted results are non-GAAP financial measures that exclude goodwill impairment and certain other items included in our reported results. Management believes that adjusted results provide a useful presentation of our operating results for purposes of assessing our Group and divisional performance over time, on a basis that excludes items that management does not consider representative of our underlying performance. Provided below is a reconciliation of our adjusted results to the most directly comparable US GAAP measures. 

Swiss Universal Bank – adjusted results (CHF million) 

 

2015

2014

Income before taxes reported

1,659 1,976

Real estate gains

(95) (414)
Gains on business sales (23) (24)
Adjustments to net revenues (118) (438)
Restructuring expenses 39 -
Major litigation provisions 25 -
Adjustments to total operating expenses 64 -
Adjustments to income/(loss) before taxes (54) (438)

Adjusted income before taxes

1,605 1,538

International Wealth Management – adjusted results (CHF million)

 

2015

2014

Income before taxes reported

709 1,212
Gains on business sales (11) (77)
Adjustments to net revenues (11) (77)
Restructuring expenses 33 -
Major litigation provisions 268 51
Adjustments to total operating expenses 301 51
Adjustments to income/(loss) before taxes 290 (26)

Adjusted income before taxes

999 1,186

Asia Pacific – adjusted results (CHF million)

 

2015

2014

Income/(loss) before taxes reported

377 900

Goodwill impairment

756 -

Restructuring expenses

3 -

Major litigation provisions

6 -

Adjustments to total operating expenses

765 -

Adjustments to income/(loss) before taxes

765 -

Adjusted income before taxes

1,142 900