TD Bank 2001 Annual Report Download - page 70

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68
FINANCIAL RESULTS
Results by business segment
(millions of dollars)
TD TD TD Wealth TD
2001 Canada Trust Waterhouse Management Securities Other Total
Net interest income
(on a taxable equivalent basis) $ 3,951 $ 400 $ 80 $ 886 $ (681) $ 4,636
Provision for credit losses 380 – – 327 213 920
Other income 1,688 1,216 618 2,251 674 6,447
Non-interest expenses excluding non-cash
goodwill/intangible amortization and
restructuring costs 3,467 1,508 523 1,368 59 6,925
Restructuring costs –––– 239 239
Income before provision for income
taxes and non-controlling interest 1,792 108 175 1,442 (518) 2,999
Provision for income taxes
(on a taxable equivalent basis) 702 54 75 528 (417) 942
Non-controlling interest in net income
of subsidiaries – 6 – – 39 45
Net income – cash basis $ 1,090 $ 48 $ 100 $ 914 $ (140) $ 2,012
Non-cash goodwill/intangible
amortization, net of tax 629
Net income – accrual basis $ 1,383
Total assets $ 113,100 $ 17,300 $ 5,000 $ 145,200 $ 7,238 $ 287,838
2000
Net interest income
(on a taxable equivalent basis) $ 3,265 $ 538 $ 66 $ 428 $ (493) $ 3,804
Provision for credit losses 332 – 1 210 (63) 480
Other income 1,438 1,746 633 2,295 288 6,400
Non-interest expenses excluding non-cash
goodwill/intangible amortization and
restructuring costs 2,944 1,679 488 1,189 7 6,307
Restructuring costs –––– 475 475
Income before provision for income
taxes and non-controlling interest 1,427 605 210 1,324 (624) 2,942
Provision for income taxes
(on a taxable equivalent basis) 602 250 95 546 (375) 1,118
Non-controlling interest in net income
of subsidiaries – 36 – – 41 77
Net income – cash basis $ 825 $ 319 $ 115 $ 778 $ (290) $ 1,747
Non-cash goodwill/intangible
amortization, net of tax 722
Net income – accrual basis $ 1,025
Total assets $ 104,300 $ 23,600 $ 4,700 $ 123,600 $ 8,618 $ 264,818
1999
Net interest income
(on a taxable equivalent basis) $ 2,198 $ 308 $ 48 $ 806 $ (187) $ 3,173
Provision for credit losses 154 – – 76 45 275
Other income 835 1,897 379 1,595 103 4,809
Gain on sale of TD Waterhouse Group, Inc. – 1,122 – – – 1,122
Non-interest expenses excluding non-cash
goodwill/intangible amortization 2,005 1,094 331 1,028 59 4,517
Income before provision for income
taxes and non-controlling interest 874 2,233 96 1,297 (188) 4,312
Provision for income taxes
(on a taxable equivalent basis) 375 451 43 550 (137) 1,282
Non-controlling interest in net income
of subsidiaries – 5 – – – 5
Net income – cash basis $ 499 $ 1,777 $ 53 $ 747 $ (51) $ 3,025
Non-cash goodwill/intangible
amortization, net of tax 44
Net income – accrual basis $ 2,981