TD Bank 2010 Annual Report Download - page 142

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TD BANK GROUP ANNUAL REPORT 2010 FINANCIAL RESULTS140
Results by Business Segment
(millions of Canadian dollars) Canadian U.S.
Personal and Personal and
Commercial Wealth Commercial Wholesale
Banking Management Banking1,2 Banking Corporate Total
2009
Net interest income $ 6,348 $ 270 $ 3,607 $ 2,488 $ (1,387) $ 11,326
Non-interest income 3,101 1,935 1,117 733 (352) 6,534
Provision for (reversal of) credit losses 1,155 – 948 164 213 2,480
Non-interest expenses 4,725 1,701 3,213 1,417 1,155 12,211
Income (loss) before income taxes 3,569 504 563 1,640 (3,107) 3,169
Provision for (recovery of) income taxes 1,097 159 (70) 503 (1,448) 241
Non-controlling interests in subsidiaries, net of income taxes – – – – 111 111
Equity in net income of an associated company,
net of income taxes – 252 – – 51 303
Net income (loss) $ 2,472 $ 597 $ 633 $ 1,137 $ (1,719) $ 3,120
Total assets
Balance sheet $ 183,236 $ 20,592 $ 153,820 $ 164,939 $ 34,632 $ 557,219
Securitized3 57,659 – – 4,057 (13,740) 47,976
2008
Net interest income $ 5,790 $ 347 $ 2,144 $ 1,318 $ (1,067) $ 8,532
Non-interest income 3,036 1,981 853 (68) 335 6,137
Provision for (reversal of) credit losses 766 – 226 106 (35) 1,063
Non-interest expenses 4,522 1,615 1,791 1,199 375 9,502
Income (loss) before income taxes 3,538 713 980 (55) (1,072) 4,104
Provision for (recovery of) income taxes 1,114 233 258 (120) (948) 537
Non-controlling interests in subsidiaries, net of income taxes – – – – 43 43
Equity in net income of an associated company,
net of income taxes – 289 – – 20 309
Net income (loss) $ 2,424 $ 769 $ 722 $ 65 $ (147) $ 3,833
Total assets
Balance sheet $ 172,389 $ 15,399 $ 126,996 $ 215,013 $ 33,417 $ 563,214
Securitized3 42,817 – – 3,022 (13,259) 32,580
1 Commencing the third quarter ended July 31, 2008, the results of U.S. Personal
and Commercial Banking include Commerce.
2 As explained in Note 1, effective the second quarter ended April 30, 2009, as a
result of the alignment of reporting period of U.S. entities, TD Bank, N.A., which
currently operates as TD Bank, America’s Most Convenient Bank, is consolidated
using the same period as the Bank.
3 Securitized assets continue to be reported under the segments the original loans
originated from.
assets. This location frequently corresponds with the location of the
legal entity through which the business is conducted and the location
of the customer.
RESULTS BY GEOGRAPHY
For reporting of geographic results, segments are grouped into
Canada, United States and International. Transactions are primarily
recorded in the location responsible for recording the revenue or
(millions of Canadian dollars) Income before
Total revenue income taxes Net income Goodwill Total assets
2010
Canada $ 12,741 $ 3,689 $ 2,637 $ 1,530 $ 355,021
United States 4,953 518 502 12,880 207,755
International 1,871 1,570 1,505 50 56,769
Total $ 19,565 $ 5,777 $ 4,644 $ 14,460 $ 619,545
2009
Canada $ 12,154 $ 2,938 $ 2,256 $ 1,529 $ 329,454
United States 3,906 (1,265) (541) 13,432 177,593
International 1,800 1,496 1,405 54 50,172
Total $ 17,860 $ 3,169 $ 3,120 $ 15,015 $ 557,219
2008
Canada $ 10,770 $ 3,186 $ 2,486 $ 1,529 $ 352,418
United States 2,925 216 487 13,265 154,418
International 974 702 860 48 56,378
Total $ 14,669 $ 4,104 $ 3,833 $ 14,842 $ 563,214