TD Bank 2002 Annual Report Download - page 84

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82
FINANCIAL RESULTS
(millions of dollars) 2002 2001 2000
Consolidated Assets
balance sheet Cash resources $ 6,538 $ 5,945 $ 4,187
Securities purchased under resale agreements 13,060 20,205 13,974
Securities 82,197 97,194 85,387
Loans 69,843 68,866 76,321
Residential mortgages 52,784 50,807 44,400
Customers’ liability under acceptances 7,719 9,122 9,812
Trading derivatives’ market revaluation125,739 21,435 14,258
Goodwill and intangible assets 6,517 6,679 7,835
Land, buildings, equipment and other assets 13,643 7,585 8,644
Total $278,040 $287,838 $264,818
Liabilities
Deposits – personal $100,942 $ 95,982 $ 92,488
– other 88,248 97,932 93,320
Acceptances 7,719 9,122 9,812
Obligations related to securities sold short 17,058 21,436 19,007
Obligations related to securities sold under repurchase agreements 8,655 14,637 8,856
Trading derivatives’ market revaluation125,954 21,770 12,802
Other liabilities 10,830 7,391 9,644
259,406 268,270 245,929
Subordinated notes and debentures 4,343 4,892 4,883
Non-controlling interest in subsidiaries 1,250 1,272 1,656
Shareholders’ equity
Capital stock – preferred 1,485 1,492 1,251
– common 2,846 2,259 2,060
Retained earnings 8,710 9,653 9,039
13,041 13,404 12,350
Total $278,040 $287,838 $264,818
Consolidated statement Net interest income (TEB) $ 5,522 $ 4,636 $ 3,804
of operations2Provision for credit losses 2,925 620 480
Net interest income after credit loss provision 2,597 4,016 3,324
Other income
Investment and securities services 2,085 2,205 2,640
Credit fees 415 425 545
Net investment securities gains 26 216 382
Trading income 529 1,318 1,225
Service charges 596 561 441
Loan securitizations 218 272 236
Card services 249 249 233
Insurance 375 326 198
Trust fees 76 86 75
Other 320 439 425
4,889 6,097 6,400
Net interest and other income 7,486 10,113 9,724
Non-interest expenses
Salaries and employee benefits 3,566 3,708 3,399
Occupancy including depreciation 605 592 498
Equipment including depreciation 661 656 561
Other 1,922 1,969 1,849
Non-interest expenses excluding non-cash goodwill/intangible
amortization and restructuring costs 6,754 6,925 6,307
Income before provision for income taxes and
non-controlling interest in net income of subsidiaries 732 3,188 3,417
Provision for income taxes (TEB) 172 981 1,322
Non-controlling interest in net income of subsidiaries 34 49 77
Net income – operating cash basis $ 526 $ 2,158 $ 2,018
Preferred dividends 84 83 56
Net income applicable to common shares – operating cash basis $ 442 $ 2,075 $ 1,962
Special increase in general provision, net of income taxes –208 –
Gain on sale of mutual fund record keeping and custody business,
net of income taxes 32 ––
Gains on sale of investment real estate, net of income taxes –275 –
Restructuring costs, net of income taxes –138 271
Income tax expense from income tax rate changes –75 –
Special gains, net of income taxes3–––
Net income applicable to common shares – cash basis $ 474 $ 1,929 $ 1,691
Non-cash goodwill amortization, net of income taxes –189 133
Non-cash intangible amortization, net of income taxes 634 440 589
Net income (loss) applicable to common shares – reported basis $ (160) $ 1,300 $ 969
Ten-year statistical review