The Motley Fool

JANUARY 12, 2024

billion after tax, or $0.70 billion after tax, which includes $2.8 billion after tax for notable Quarter 4 items. billion after tax. Adjusted full year revenue grew 5% on a back of 9% NII improvement and strong asset management fees and sales and trading results. billion of pre-tax expense.

Banks 130

Banks Taxes Accounting Assets 130

The Motley Fool

FEBRUARY 9, 2024

We finished 2023 on a strong note with another consecutive quarter of management fee and FRE growth, 11 for 11 since we've been a public company, against a market backdrop that has been exceptionally volatile and uncertain. Management fees were up 26%, and 92% of these management fees are from permanent capital vehicles.

Capital 130

Capital Stakes Securities and Exchange Commission (SEC) Management Fees 130

The Motley Fool

APRIL 29, 2024

Bitcoin ETPs also benefit from this, offset by the management fees that are charged for those products. The increase was primarily due to higher G&A expenses this quarter, which was specifically related to an increase in employer-paid payroll taxes in connection with employee stock option exercises in the first quarter.

Leveraging 246

Leveraging Debt Assets Capital 246

The Motley Fool

FEBRUARY 23, 2024

We also benefited from significant fair value appreciation in the value of the external investment manager due to a combination of increased fee income, growth in assets under management, and broader market-based drivers. There are currently tax rules that sunset in '25.

Capital 130

Capital Securities and Exchange Commission (SEC) Asset Management Leveraging 130

The Motley Fool

FEBRUARY 2, 2024

yield after management fees and actual capex and generated a 10.6% in the aggregate, including property taxes, which represented approximately 36% of our total operating expenses and are projected to increase approximately 3% in 2024. And then maybe on the real estate tax guide. The community was sold at an approximate 5.5%

Debt 130

Debt Taxes Capital Assets 130

The Motley Fool

FEBRUARY 27, 2024

Of course, there are significant benefits to this, the most important of which, from our perspective, is the potential lifting of the confiscatory 280e federal taxes imposed on regulated cannabis operators, and Paul will discuss our thoughts in more detail. Moving on to rent collection.

Taxes 100

Taxes Assets Capital Debt 100

The Motley Fool

OCTOBER 31, 2024

At the end of September, the fair value of our equity portfolio included cumulative pre-tax unrealized gains of $7.8 Net unrealized investment gains included in other comprehensive income in the first nine months of 2024 were $283 million net of taxes, compared to net unrealized investment losses of $135 million net of taxes last year.

Liabilities 130

Liabilities Performance Fees Capital Portfolios 130

The Motley Fool

MARCH 20, 2024

Fintech services revenues sustained a teens year-on-year growth rate on increased commercial payment volume, wealth management fees, and consumer loan fees. Income tax expense rose by 111% year on year to 9.7 billion renminbi, driven by operating profit growth and increased withholding tax provision.

Accounting 246

Accounting Shareholders Financial Institutions Leveraging 246

The Motley Fool

MAY 1, 2024

These flows reinforce the benefits of our large and strategic global client relationships and the power of our mutually reinforcing business system to grow our asset management fees. Our pre-tax adjusted operating income was $1.5 per share on an after-tax basis, up 16% from the year ago quarter. on an after-tax basis.

Securities and Exchange Commission (SEC) 130

Securities and Exchange Commission (SEC) Liabilities Assets Capital 130

The Motley Fool

OCTOBER 17, 2024

Notwithstanding the temporary impact from these fee holidays, management fees in the third quarter increased 8% year over year to a record $1.8 Fee-related earnings were $1.2 per share, up 5% year over year, underpinned by the growth in management fees. billion in the third quarter or $0.96

Debt 130

Debt Management Fees Capital Assets 130

The Motley Fool

AUGUST 3, 2023

associated with scheduled repairs and maintenance occurring midyear, coupled with the impact of real estate tax assessments that will be substantially recovered by year-end. As we noted last quarter, we anticipated a Q2 same-store NOI below the full year trend line with the second half of the year trending back up.

Securities and Exchange Commission (SEC) 130

Securities and Exchange Commission (SEC) Debt Asset Management Capital 130

The Motley Fool

OCTOBER 15, 2024

billion in net income after tax. So going back to Slide 9, regarding NII on a GAAP, non-FTE basis, NII in Q3 was $14 billion and on a fully tax equivalent basis, NII was $14.1 billion or more on a fully tax equivalent basis. We grew, we did it the right way. In the third quarter, Bank of America generated $25.5

Banks 130

Banks Leveraging Assets Capital 130

The Motley Fool

OCTOBER 31, 2024

Our pre-tax adjusted operating income was $1.6 per share on an after-tax basis for the third quarter of 2024 and $9.98 PGIM, our global investment manager had higher asset management fees, driven by favorable investment performance, contributions from the Deerpath Capital acquisition and market appreciation.

Liabilities 130

Liabilities Capital Assets Shareholders 130

The Motley Fool

JULY 12, 2024

I will also note that our second-quarter effective income tax rate reflected the impact of the first-quarter adoption of the new accounting standard for renewable energy tax credit investments, which increased our effective tax rate by approximately 3 percentage points versus a year ago.

Banks 130

Banks Assets Investment Banks Investment Banking 130

The Motley Fool

FEBRUARY 7, 2024

Our pre-tax adjusted operating income was $5.5 Our GAAP net income for the quarter was $374 million higher than our after-tax AOI, primarily driven by net investment gains due to declining rates. PGIM, our global investment manager, had lower other related revenues driven by lower incentive fees and agency income, and higher expenses.

Mergers and Acquisitions 130

Mergers and Acquisitions Capital Assets Liabilities 130

The Motley Fool

NOVEMBER 5, 2024

Our effective GAAP tax rate during the quarter was 28.6%, an increase over the effective tax rate in the third quarter of 2023 of 18.6%. We continue to expect a normalized tax rate of about 32%. Net interest expense increased 52.4% GAAP net income for the third quarter was $24.2 million or $0.24 per fully diluted share.

Taxes 130

Taxes Accounting Consulting Consultants 130

The Motley Fool

AUGUST 2, 2024

Our pre-tax adjusted operating income was $1.6 per share on an after-tax basis, up 10% from the year-ago quarter and 12.5% PGIM, our global investment manager, had higher asset management fees driven by favorable investment performance, contributions from the Deerpath capital acquisition, and equity market appreciation.

Assets 130

Assets Capital Liabilities Shareholders 130

The Motley Fool

APRIL 12, 2024

This quarter's higher RWA is largely due to seasonal effects, including higher client activity in Markets and higher risk weights on deferred tax assets, partially offset by lower Card loans. Asset & Wealth Management reported net income of $1 billion with pre-tax margin of 28%. above the effective tax rate.

Securities and Exchange Commission (SEC) 130

Securities and Exchange Commission (SEC) Banks Capital Investment Banks 130

The Motley Fool

MAY 2, 2024

At the end of March, the fair value of our equity portfolio included cumulative pre-tax unrealized gains of $7 billion. Net unrealized investment losses and other comprehensive loss in the first quarter of 2024 were $123 million net of taxes compared to net unrealized investment gains of $164 million net of taxes in the same period last year.

Liabilities 130

Liabilities Shareholders Asset Management Portfolios 130

The Motley Fool

JANUARY 19, 2024

This morning, we reported full year 2023 earnings of $2 billion, reflecting record pre-tax pre-provision income of $3.2 Secondly, we had the best year we've probably ever had in treasury management as we see increases in the number of operating accounts that we are -- that we're originating and services we're providing to customers.

Leveraging 130

Leveraging Banks Capital Portfolios 130

The Motley Fool

AUGUST 2, 2023

Our pre-tax adjusted operating income was $1.4 per share, on an after-tax basis. These results reflect underlying business growth, including the benefits from a higher interest rate environment and favorable underwriting experience, partially offset by elevated expenses and lower variable investment and fee income.

Assets 100

Assets Capital Liabilities Asset Management 100

The Motley Fool

JULY 12, 2024

billion or 21%, largely driven by higher investment banking revenue and asset management fees. Asset and wealth management reported net income of 1.3 billion, with pre-tax margin of 32%. NIR ex markets was up 7.3 billion or 56%. Excluding the items I just mentioned, it was up 2.1 Expenses of 23.7 billion were up 2.9

Banks 130

Banks Capital Finance Financing 130

The Motley Fool

FEBRUARY 21, 2024

As a reminder, in April of 2021, our company entered into a limited partnership agreement with Pelion Ventures in Draper, Utah, to manage the Medici portfolio. This partnership came with an annual management fee, in addition to upside deal economics, in exchange for them nurturing these companies and building value.

Assets 130

Assets Banks Shareholders Portfolios 130

The Motley Fool

JULY 14, 2023

Embedded in these results are after-tax divestiture-related impacts of approximately $92 million. Our effective tax rate this quarter was 27%, primarily driven by the geographic mix of our pre-tax earnings in the quarter. Excluding current quarter divestiture-related impacts, our effective tax rate was 26%. and non-U.S.

Banks 130

Banks Capital Investment Banks Investment Banking 130

The Motley Fool

MAY 14, 2024

Income tax expense rose by 24% year on year to 14.1 billion renminbi, primarily driven by operating profit growth and higher provision for withholding tax. It will not generate an immediate revenue upon withdrawal, but it will be turned into an asset under management and would continue to generate wealth management fees over time.

Accounting 130

Accounting Business Services Portfolios Shareholders 130

The Motley Fool

JANUARY 12, 2024

Asset and wealth management reported net income of 925 million with pre-tax margin of 28%. billion was up 2% year on year driven by higher management fees on strong net inflows and higher average market levels, predominantly offset by lower NII. And then to complete our lines of business, AWM on Page 8. Revenue of 4.7

Banks 130

Banks Capital Assets Investment Banks 130

The Motley Fool

JULY 14, 2023

In banking and wealth management, revenue was up 59% year on year, driven by higher NII on higher rates. End-of-period deposits were down 4% quarter on quarter as customers continue to spend down their cash buffers, including for seasonal tax payments, and seek higher-yielding products. billion, with pre-tax margin of 32%.

Banks 130

Banks Liabilities Capital Assets 130

The Motley Fool

OCTOBER 11, 2024

per share of discrete tax benefits. 128 million of this decline was due to the increased pricing on sweep deposits and advisory brokerage accounts and wealth and investment management that we highlighted on last quarter's call. Turning to Slide 4. Net interest income declined $233 million or 2% from the second quarter.

Banks 130

Banks Assets Capital Investment Banks 130

The Motley Fool

DECEMBER 19, 2024

Millrose will be externally managed by a subsidiary of Kennedy Lewis Investments and Institutional alternative investment firm with approximately $17 billion in AUM and extensive experience with both Lennar and with the land and land development business for home builders. We expect our Q1 tax rate to be approximately 24.5%

Assets 130

Assets Debt Capital Shareholders 130

The Motley Fool

FEBRUARY 15, 2024

Typically, the fourth quarter is the strongest quarter of revenues for Walker & Dunlop Affordable Equity, formerly Alliant, due to the gains realized from the disposition of maturing tax credit deals. And as a result, investment management revenues were down quarter over quarter.

Debt 100

Debt Finance Financing Capital 100

The Motley Fool

OCTOBER 11, 2024

Asset and wealth management reported net income of $1.4 billion with pre-tax margin of 33%. As with all our articles, The Motley Fool does not assume any responsibility for your use of this content, and we strongly encourage you to do your own research, including listening to the call yourself and reading the company's SEC filings.

Banks 130

Banks Capital Assets Mergers and Acquisitions 130

Sara Grillo

APRIL 11, 2022

These services often include recommendations on investments, financial planning, retirement, Social Security, Medicare, tax planning, and other wealth-related topics. An hourly financial advisor is someone who provides financial advisor for a set hourly rate. Hourly financial advisors are not common. Jon Luskin. Rick Ferri.

Portfolios 52

Portfolios Investors Consulting Consultants 52

The Motley Fool

FEBRUARY 6, 2024

For the fourth quarter, we reported GAAP net income of $89 million, which included $150 million tax benefit, primarily due to changes in the valuation allowance on our deferred tax asset directly related to our Bitcoin holdings. The baseline returns of any long Bitcoin strategy benefit from spot Bitcoin price appreciation.

Leveraging 130

Leveraging Debt Assets Shareholders 130

The Motley Fool

MAY 1, 2024

The net of tax impact on earnings of the provision is $11.4 We know there are a few adjustments we initiated in the first quarter with regard to the risk management fee, Agent Equity Program discount and other profit enhancement opportunities. Our GAAP net loss for this quarter was $15.6 million, which also includes a $1.8

Accounting 130

Accounting Liabilities Leveraging Legal 130

The Motley Fool

FEBRUARY 22, 2024

The decline in net income year over year was primarily due to Virbela impairment charges, increased agent growth incentive stock compensation and a higher effective tax rate. So, there's definitely what we call risk management. So, there's some risk management fees because just our legal costs are going up significantly.

Legal 100

Legal Management Fees Leveraging Accounting 100

The Big Picture

MARCH 27, 2023

DOMINIQUE MIELLE, AUTHOR, “DAMSEL IN DISTRESSED”: Well, it started with an article that I wrote as a hobby about my experience as a woman at Lehman Brothers, and it was picked up by Business Insider, and I realized a couple things. What made you decide to write a memoir about your decades in the hedge fund industry?

Hedge Funds 114

Hedge Funds Funds Assets Finance 114

Pension Pulse

FEBRUARY 12, 2024

An expansion of the CPP would transfer these risks from individual workers to the government, which is much better placed to manage them, as it can pool risks across all Canadian workers and across generations of workers. Government tax revenues will track higher, too, a fact often lost in the conversation about Canada’s pension system.

Taxes 59

Taxes Amortization Finance Financing 59