TD Bank 2002 Annual Report Download - page 86

84
FINANCIAL RESULTS
(millions of dollars) 2002 2001 2000
Consolidated Preferred shares
statement of changes Balance at beginning of year $ 1,492 $ 1,251 $ 833
in shareholders’ equity Proceeds from share issues –225 410
Share redemptions –––
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
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 ––
Shares purchased for cancellation –––
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
Shares purchased for cancellation –––
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 –(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 equity $ 13,041 $ 13,404 $ 12,350
Other statistics1
Per common share21Basic net income –operating cash basis3$ .69 $ 3.31 $ 3.16
2Diluted net income –operating cash basis3,4 .68 3.27 3.12
3Basic net income –reported basis (.25) 2.07 1.56
4Diluted net income – reported basis4(.25) 2.05 1.53
5Dividends 1.12 1.09 .92
6Book value 17.91 18.97 17.83
7Closing market price 29.35 35.94 41.95
8Closing market price to book value 1.64 1.89 2.35
9Closing market price appreciation (18.3)% (14.3)% 24.3%
10 Total market return (15.2) (11.7) 27.0
Performance ratios 11 Return on common shareholders’equity –operating cash basis33.6% 18.0% 18.0%
12 Return on common shareholders’ equity – reported basis (1.3) 11.3 8.9
13 Return on risk-weighted assets – operating cash basis3.42 1.68 1.67
14 Return on risk-weighted assets – reported basis (.06) 1.07 .85
15 Efficiency ratio –operating cash basis3,5 64.9 64.5 61.8
16 Efficiency ratio – reported basis 74.2 78.1 79.6
17 Net interest rate margin (TEB) 2.09 1.83 1.63
18 Common dividend payout ratio – operating cash basis3162.4 33.0 29.2
19 Common dividend payout ratio – reported basis –52.6 59.0
20 Dividend yield63.2 2.7 2.3
21 Price earnings ratio –operating cash basis3,7 43.8 11.0 13.4
22 Price earnings ratio –reported basis7–17.5 27.4
Asset quality 23 Net impaired loans as a % of net loans8(.7)% –% (.1)%
24 Net impaired loans as a % of common equity (8.4) (.4) (1.4)
25 Provision for credit losses as a % of net average loans82.24 .71 .39
Capital ratios 26 Tier 1 capital to risk-weighted assets 8.1% 8.4% 7.2%
27 Total capital to risk-weighted assets 11.6 11.9 10.8
28 Common equity to total assets 4.2 4.1 4.2
Other 29 Number of common shares outstanding (thousands)2645,399 628,451 622,616
30 Market capitalization (millions) $ 18,942 $ 22,587 $ 26,119
31 Number of employees942,817 45,565 45,026
32 Number of domestic retail outlets10 1,178 1,294 1,355
33 Number of retail brokerage offices 283 276 292
34 Number of Automated Banking Machines 2,608 2,777 2,836