Bank of Montreal 2012 Annual Report Download - page 175

Notes
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
(Canadian $ in millions) 2012 2011
November 1,
2010
Book
value Fair value
Fair value
over (under)
book value
Book
value
Fair
value
Fair value
over (under)
book value
Book
value
Fair
value
Fair value
over (under)
book value
Assets
Cash and cash equivalents 19,941 19,941 – 19,676 19,676 – 17,460 17,460 –
Interest bearing deposits with banks 6,341 6,341 – 5,980 5,980 – 5,157 5,157 –
Securities 128,324 128,492 168 122,115 122,263 148 119,512 119,560 48
Securities borrowed or purchased
under resale agreements 44,238 44,238 – 37,970 37,970 – 28,102 28,102 –
Loans
Residential mortgages 87,870 88,554 684 81,075 82,229 1,154 74,782 76,256 1,474
Consumer instalment and other
personal 61,436 61,014 (422) 59,445 58,058 (1,387) 51,159 50,126 (1,033)
Credit cards 7,814 7,573 (241) 8,038 8,038 – 7,777 7,777 –
Businesses and governments 93,175 91,712 (1,463) 84,883 82,934 (1,949) 66,512 64,462 (2,050)
250,295 248,853 (1,442) 233,441 231,259 (2,182) 200,230 198,621 (1,609)
Customers’ liability under
acceptances 8,019 7,966 (53) 7,227 7,146 (81) 7,001 6,864 (137)
Allowance for credit losses (1) (1,706) – 1,706 (1,783) – 1,783 (1,964) – 1,964
Total loans and customers’ liability
under acceptances, net of
allowance for credit losses 256,608 256,819 211 238,885 238,405 (480) 205,267 205,485 218
Derivative instruments 48,071 48,071 – 55,113 55,113 – 49,086 49,086 –
Premises and equipment 2,120 2,120 – 2,061 2,061 – 1,507 1,507 –
Goodwill 3,717 3,717 – 3,649 3,649 – 1,619 1,619 –
Intangible assets 1,552 1,552 – 1,562 1,562 – 812 812 –
Current tax assets 1,293 1,293 – 1,319 1,319 – 1,459 1,459 –
Deferred tax assets 2,906 2,906 – 3,355 3,355 – 1,078 1,078 –
Other assets 10,338 10,338 – 8,890 8,950 60 6,651 6,651 –
525,449 525,828 379 500,575 500,303 (272) 437,710 437,976 266
Liabilities
Deposits 323,702 323,949 247 302,373 302,617 244 250,344 250,637 293
Derivative instruments 48,736 48,736 – 50,934 50,934 – 47,632 47,632 –
Acceptances 8,019 8,019 – 7,227 7,227 – 7,001 7,001 –
Securities sold but not yet purchased 23,439 23,439 – 20,207 20,207 – 14,245 14,245 –
Securities lent or sold under
repurchase agreements 39,737 39,737 – 32,078 32,078 – 40,987 40,987 –
Current tax liabilities 404 404 – 591 591 – 570 570 –
Deferred tax liabilities 171 171 – 314 314 – 332 332 –
Other liabilities 46,596 47,111 515 52,846 53,673 827 49,953 50,545 592
Subordinated debt 4,093 4,297 204 5,348 5,507 159 3,776 3,947 171
Capital trust securities 462 636 174 821 982 161 1,187 1,354 167
Total equity 30,090 30,090 – 27,836 27,836 – 21,683 21,683 –
525,449 526,589 1,140 500,575 501,966 1,391 437,710 438,933 1,223
Total fair value adjustment (761) (1,663) (957)
(1) The allowance for credit losses is excluded from the calculation of the fair value of loans since the fair value already includes an adjustment for expected future losses on the loans.
172 BMO Financial Group 195th Annual Report 2012