TD Bank 2002 Annual Report Download - page 88

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86
FINANCIAL RESULTS
2002 2001
Quarter Quarter
ended ended
October 31 July 31 April 30 January 31 October 31 July 31 April 30 January 31
(millions of dollars)
Net interest income (TEB) $ 1,441 $ 1,452 $ 1,368 $ 1,261 $ 1,341 $ 1,147 $ 1,088 $ 1,060
Provision for credit losses (950) (1,250) (400) (325) (190) (190) (120) (120)
Other income 1,054 1,016 1,189 1,630 1,288 1,534 1,559 1,716
Non-interest expenses excluding
non-cash goodwill/intangible
amortization and restructuring
costs (1,635) (1,641) (1,687) (1,791) (1,735) (1,726) (1,726) (1,738)
Income (loss) before provision for
income taxes and non-controlling
interest in subsidiaries (90) (423) 470 775 704 765 801 918
Provison for (benefit of)
income taxes (TEB) (57) (158) 147 240 175 233 242 331
Non-controlling interest in
net income of subsidiaries (9) (6) (10) (9) (8) (10) (13) (18)
Net income (loss) –
operating cash basis1$ (42) $ (271) $ 313 $ 526 $ 521 $ 522 $ 546 $ 569
Preferred dividends (21) (21) (21) (21) (22) (20) (21) (20)
Net income (loss) applicable
to common shares –
operating cash basis $ (63) $ (292) $ 292 $ 505 $ 499 $ 502 $ 525 $ 549
Special increase in general provision,
net of income taxes –––– ––(96) (112)
Gain on sale of mutual fund record
keeping and custody business,
net of income taxes –18 –14 ––––
Gains on sale of investment real
estate, net of income taxes –––– ––163 112
Restructuring costs,
net of income taxes ––––(76) (30) –(32)
Income tax expense from income
tax rate changes –––– –(25) –(50)
Net income (loss) applicable to
common shares – cash basis $ (63) $ (274) $ 292 $ 519 $ 423 $ 447 $ 592 $ 467
Non-cash goodwill amortization,
net of income taxes ––––(49) (48) (48) (44)
Non-cash intangible amortization,
net of income taxes (156) (154) (160) (164) (171) (78) (185) (6)
Net income (loss) applicable to
common shares – reported basis $ (219) $ (428) $ 132 $ 355 $ 203 $ 321 $ 359 $ 417
(dollars)
Basic net income (loss) per common
share –operating cash basis1$ (.10) $ (.46) $ .46 $ .79 $ .79 $ .80 $ .84 $ .88
Diluted net income (loss) per
common share –operating cash
basis1(.10) (.46) .45 .78 .78 .79 .83 .87
Basic net income (loss) per common
share – reported basis (.34) (.67) .20 .56 .32 .51 .57 .67
Diluted net income (loss) per
common share – reported basis (.34) (.67) .20 .55 .32 .51 .56 .66
Dividends per share .28 .28 .28 .28 .28 .28 .28 .25
Return on common shareholders’
equity –operating cash basis1(2.1)% (9.5)% 9.7% 16.4% 16.8% 17.1% 18.7% 19.5%
Return on common shareholders’
equity – reported basis (7.4) (13.9) 4.4 11.5 6.8 10.9 12.8 14.8
(billions of dollars)
Average earning assets $ 260 $ 266 $ 269 $ 265 $ 256 $ 259 $ 252 $ 247
Net interest income (TEB) as a %
of average earning assets 2.20% 2.17% 2.09% 1.89% 2.08% 1.76% 1.77% 1.70%
Reported quarterly results
1Operating cash basis measurements are defined in the
“How the Bank reports”section on page 7 of this annual report.