Bank of Montreal 2013 Annual Report Download - page 117

CONSOLIDATED FINANCIAL STATEMENTS
Consolidated Statement of Changes in Equity
For the Year Ended October 31 (Canadian $ in millions) 2013 2012 2011
Consolidated Financial Statements
Preferred Shares (Note 20)
Balance at beginning of year
Issued during the year
Redeemed during the year
$ 2,465
–
(200)
$ 2,861
–
(396)
$ 2,571
290
–
Balance at End of Year 2,265 2,465 2,861
Common Shares (Note 20)
Balance at beginning of year
Issued under the Shareholder Dividend Reinvestment and Share Purchase Plan (Note 20)
Issued under the Stock Option Plan (Note 22)
Repurchased for cancellation (Note 20)
Issued on the exchange of shares of a subsidiary corporation
Issued on the acquisition of a business
11,957
130
116
(200)
–
–
11,332
543
80
–
2
–
6,927
179
122
–
1
4,103
Balance at End of Year 12,003 11,957 11,332
Contributed Surplus
Balance at beginning of year
Stock option expense/exercised (Note 22)
Foreign exchange on redemption of preferred shares (Note 20)
213
(5)
107
113
4
96
91
22
–
Balance at End of Year 315 213 113
Retained Earnings
Balance at beginning of year 13,540 11,381 10,181
Net income attributable to bank shareholders 4,183 4,115 3,041
Dividends – Preferred shares (Note 20) (120) (136) (146)
– Common shares (Note 20) (1,904) (1,820) (1,690)
Common shares repurchased for cancellation (475) – –
Share issue expense – – (5)
Balance at End of Year 15,224 13,540 11,381
Accumulated Other Comprehensive Income on Available-for-Sale Securities
Balance at beginning of year 265 322 408
Unrealized gains (losses) on available-for-sale securities arising during the year (1) (10) 24 18
Reclassification to earnings of (gains) in the year (2) (50) (81) (104)
Balance at End of Year 205 265 322
Accumulated Other Comprehensive Income on Cash Flow Hedges
Balance at beginning of year 142 311 4
Gains (losses) on cash flow hedges arising during the year (3) (25) (62) 328
Reclassification to earnings of (gains) on cash flow hedges (4) (125) (107) (21)
Balance at End of Year (8) 142 311
Accumulated Other Comprehensive Income on Translation of Net Foreign Operations
Balance at beginning of year 73 33 –
Unrealized gain (loss) on translation of net foreign operations 741 75 (90)
Impact of hedging unrealized gain (loss) on translation of net foreign operations (5) (409) (35) 123
Balance at End of Year 405 73 33
Total Accumulated Other Comprehensive Income 602 480 666
Total Shareholders’ Equity $ 30,409 $ 28,655 $ 26,353
Non-controlling Interest in Subsidiaries
Balance at beginning of year 1,435 1,483 1,501
Net income attributable to non-controlling interest 65 74 73
Dividends to non-controlling interest (73) (73) (71)
Preferred share redemption (Note 20) (359) – –
Other 4 (49) (20)
Balance at End of Year 1,072 1,435 1,483
Total Equity $ 31,481 $ 30,090 $ 27,836
(1) Net of income tax (provision) recovery of $9 million, $(13) million and $(11) million for the (4) Net of income tax provision of $45 million, $38 million and $9 million for the year ended,
year ended, respectively. respectively.
(2) Net of income tax provision of $22 million, $39 million and $51 million for the year ended, (5) Net of income tax (provision) recovery of $146 million, $13 million and $(26) million for the
respectively. year ended, respectively.
(3) Net of income tax (provision) recovery of $12 million, $10 million and $(137) million for the The accompanying notes are an integral part of these consolidated financial statements.
year ended, respectively.
128 BMO Financial Group 196th Annual Report 2013