UBS Mergers and Acquisitions Presentation Deck
US GAAP /IFRS conversion; Goodwill and intangibles
USD bn
US GAAP / IFRS
conversion
Goodwill and
intangibles
-
Adjustment
Reversal of US GAAP derivative netting impacts
Trade date to settlement date accounting
Derecognition of certain positions recognized under US GAAP
Derecognition of pension assets under IFRS
UBS
Subtotal
Elimination of Credit Suisse goodwill
Estimated fair value of intangible assets acquired
Write down of existing intangible assets
Subtotal
US GAAP /IFRS conversion
Includes various impacts, most of which are net neutral to equity and CET1 capital.
Net equity impact driven by the de-recognition of pension assets, which is neutral
to CET 1.
Assets
89.2
(10.5) (10.5)
Liabilities
89.2
(3.2)
(3.2)
(3.8)
71.7
(3.1)
2.0
(0.1)
(1.2)
75.5
Equity
(3.8)
(1.2)
CET1
impact
Comments
CET1 neutral
CET1 neutral
Goodwill and intangibles
Full elimination of Credit Suisse goodwill, as required in acquisition accounting.
2.0bn recognition of estimated fair value related to new identifiable intangible
assets, primarily from customer relationships and core deposits.
- 0.1bn write-down of existing intangible assets.
All of these adjustments are neutral to tangible equity and CET1.
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