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BMO Financial Group 186th Annual Report 2003 67
Table 25 Summarized Statement of Income ($ millions)
Oct. 31 July 31 April 30 Jan. 31 Oct. 31 July 31 April 30 Jan. 31
2003 2003 2003 2003 2002 2002 2002 2002 2003 2002 2001
Net interest income (teb) 1,279 1,250 1,251 1,271 1,230 1,217 1,200 1,288 5,051 4,935 4,641
Non-interest revenue 1,132 1,084 957 1,047 1,059 926 1,022 917 4,220 3,924 4,222
Total revenue (teb) 2,411 2,334 2,208 2,318 2,289 2,143 2,222 2,205 9,271 8,859 8,863
Provision for credit losses 95 90 120 150 160 160 320 180 455 820 980
Non-interest expense 1,545 1,485 1,484 1,573 1,604 1,488 1,476 1,462 6,087 6,030 5,671
Income before provision for income taxes,
non-controlling interest in subsidiaries
and goodwill amortization 771 759 604 595 525 495 426 563 2,729 2,009 2,212
Provision for income taxes (teb) 242 239 179 180 110 135 110 175 840 530 643
Non-controlling interest in subsidiaries 16 16 16 16 17 14 15 16 64 62 42
Amortization of goodwill, net of applicable income tax
––––––––––
56
Net income 513 504 409 399 398 346 301 372 1,825 1,417 1,471
Amortization of goodwill and intangible assets,
net of income taxes 18 19 20 22 22 22 15 16 79 75 101
Cash net income 531 523 429 421 420 368 316 388 1,904 1,492 1,572
Taxable equivalent basis adjustment (teb) 42 27 44 39 24 26 29 27 152 106 142
Reported revenue per financial statements 2,369 2,307 2,164 2,279 2,265 2,117 2,193 2,178 9,119 8,753 8,721
Table 26 Unusual Items ($ millions)
Oct. 31 July 31 April 30 Jan. 31 Oct. 31 July 31 April 30 Jan. 31
2003 2003 2003 2003 2002 2002 2002 2002 2003 2002 2001
Non-Interest Revenue
Gain on sales of branches
––
12
Gain on sale of Bancomer
––
321
Write-down of equity investments in CBOs
––
(178)
Total non-interest revenue
––––––––––
155
Provision for Credit Losses
Increase of general allowance
––
100
Total provision for credit losses
––––––––––
100
Non-Interest Expense
Acquisition-related costs 39 23
–
62
–
Total non-interest expense
––––
39 23
–––
62
–
Pre-tax impact of unusual items
––––
(39) (23)
–––
(62) 55
Income taxes thereon (14) (9)
–
(23) (63)
Adjustment of future tax assets
––
25
After-tax unusual items
––––
(25) (14)
–––
(39) 93