TD Bank 2001 Annual Report Download - page 38

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36
HOW WE PERFORMED IN 2001
MANAGEMENT’S DISCUSSION AND ANALYSIS OF OPERATING PERFORMANCE
TABLE 9 Taxes
(millions of dollars) 2001 2000 1999 1998 1997
Income taxes
Consolidated statement of income $ (164) $ 296 $ 1,090 $ 611 $ 641
Taxable equivalent adjustment 245 199 192 199 161
81 495 1,282 810 802
Other taxes
Payroll taxes 174 160 85 86 82
Deposit insurance premiums 33 28 41 63 64
Capital taxes 80 76 77 71 83
GST and provincial sales taxes 149 92 82 93 74
Municipal and business taxes 109 93 71 60 68
Total other taxes 545 449 356 373 371
Total taxes $ 626 $ 944 $ 1,638 $ 1,183 $ 1,173
Effective income tax rate130.8% 38.7% 40.7% 42.0% 42.4%
Effective total tax rate140.9% 45.8% 46.8% 51.3% 51.9%
TABLE 10 Loans to small and mid-sized business customers
(millions of dollars)
Loans authorized Amount outstanding
Loan amount 2001 2000 1999 2001 2000 1999
(thousands of dollars)
0 – 24 $ 1,107 $ 1,029 $ 340 $ 590 $ 486 $ 170
25 – 49 725 720 462 435 431 279
50 – 99 1,263 1,200 971 748 718 604
100 – 249 2,690 2,507 2,278 1,676 1,545 1,446
250 – 499 2,409 2,275 2,190 1,416 1,332 1,322
500 – 999 2,552 2,443 2,448 1,371 1,272 1,331
1,000 – 4,999 7,266 7,360 7,366 3,336 3,360 3,358
Total1$ 18,012 $ 17,534 $ 16,055 $ 9,572 $ 9,144 $ 8,510
1Personal loans used for business purposes are not included in these totals.
1Excludes restructuring costs related to acquisitions and significant busi-
ness restructuring initiatives (TD Securities in 2001, TD Waterhouse
Group, Inc. in 2001, the acquisition of Newcrest in 2001 and the acqui-
sition of Canada Trust in 2000), the net effect of real estate gains and
general provision increases in 2001, goodwill and intangibles gross-up
and benefits in 2001 and 2000 as well as the special gain on the sale of
TD Waterhouse Group, Inc. in 1999.