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) 

 

2016

2015

Income before taxes reported

2,025 1,675

Real estate gains

(366) (95)
Gains on business sales 0 (23)
Restructuring expenses 60 42
Major litigation provisions 19 25

Adjusted income before taxes

1,738 1,624

International Wealth Management – adjusted results (CHF million)

 

2016

2015

Income before taxes reported

1,121 723
Gains on business sales 0 (11)
Real estate gains (54) 0
Restructuring expenses 54 36
Major litigation provisions (12) 268

Adjusted income before taxes

1,109 1,016

Asia Pacific – adjusted results (CHF million)

 

2016

2015

Income before taxes reported

725 377

Goodwill impairment

0 756

Restructuring expenses

53 3

Major litigation provisions

0 6

Adjusted income before taxes

778 1,142

Global Markets – adjusted results (CHF million)

 

2016

2015

Income/(loss) before taxes reported

48 (1,931)

Goodwill impairment

0 2,661

Restructuring expenses

217 96

Major litigation provisions

7 231

Adjusted income before taxes

272 1,057

Investment Banking & Capital Markets – adjusted results (CHF million)

 

2016

2015

Income/(loss) before taxes reported

261 (314)

Goodwill impairment

0 380

Restructuring expenses

28 22

Adjusted income before taxes

289 88