TD Bank 2002 Annual Report Download - page 48

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46
FINANCIAL RESULTS
For the years ended October 31
(millions of dollars) 2002 2001 2000
Preferred shares (Note 10)
Balance at beginning of year $ 1,492 $ 1,251 $ 833
Proceeds from share issues –225 410
Translation adjustment on shares issued in a foreign currency (7) 16 8
Balance at end of year 1,485 1,492 1,251
Common shares (Note 10)
Balance at beginning of year 2,259 2,060 2,006
Issued on acquisition of subsidiaries –181 41
Proceeds from shares issued for cash 400 ––
Proceeds from shares issued on exercise of options 13 18 13
Proceeds from shares issued as a result of dividend reinvestment plan 174 ––
Balance at end of year 2,846 2,259 2,060
Retained earnings
Balance at beginning of year 9,653 9,039 8,694
Net income (loss) (76) 1,383 1,025
Preferred dividends (84) (83) (56)
Common dividends (718) (684) (572)
Foreign currency translation adjustments, net of income taxes (32) 171 2
Stock options settled in cash, net of income taxes (25) (39) (41)
Obligations arising from adoption of accounting standard
for employee future benefits, net of income taxes (Note 1) –(132) –
Other (8) (2) (13)
Balance at end of year 8,710 9,653 9,039
Total common equity 11,556 11,912 11,099
Total shareholders’ equity $ 13,041 $ 13,404 $ 12,350
See Notes to consolidated financial statements page 48
Consolidated statement of changes in shareholders’ equity