Bank of Montreal 2015 Annual Report Download - page 178

Notes
Components of Deferred Income Tax Balances
(Canadian $ in millions)
Allowance
for credit losses
Employee
future benefits
Deferred
compensation
benefits
Other
comprehensive
income
Tax loss
carry-
forwards Other Total
Deferred Income Tax Assets (1)
As at October 31, 2013 914 329 344 (29) 1,485 461 3,504
Acquisitions – 8 15 – 10 2 35
Benefit (expense) to income statement (252) 31 42 – (180) 49 (310)
Benefit (expense) to equity – 3 – (3) – – –
Translation and other 96 3 18 25 103 72 317
As at October 31, 2014 758 374 419 (7) 1,418 584 3,546
Benefit (expense) to income statement 149 (1) (16) – (300) 14 (154)
Benefit (expense) to equity – – – (20) – – (20)
Translation and other 112 9 28 (4) 206 76 427
As at October 31, 2015 1,019 382 431 (31) 1,324 674 3,799
Premises and
equipment
Pension
benefits
Goodwill and
intangible assets Securities Other Total
Deferred Income Tax Liabilities (2)
As at October 31, 2013 (320) (31) (275) (35) 77 (584)
Acquisitions 5 – (90) – – (85)
Benefit (expense) to income statement (10) (35) 28 32 (62) (47)
Expense to equity –60 –––60
Translation and other (24) 2 (30) 2 1 (49)
As at October 31, 2014 (349) (4) (367) (1) 16 (705)
Benefit (expense) to income statement (71) 29 92 6 (135) (79)
Benefit (expense) to equity – (51) – – – (51)
Translation and other (34) (7) (41) 4 11 (67)
As at October 31, 2015 (454) (33) (316) 9 (108) (902)
(1) Deferred tax assets of $3,162 million and $3,019 million as at October 31, 2015 and 2014, respectively, are presented on the balance sheet net by legal jurisdiction.
(2) Deferred tax liabilities of $265 million and $178 million as at October 31, 2015 and 2014, respectively, are presented on the balance sheet net by legal jurisdiction.
Note 25: Earnings Per Share
Basic earnings per share is calculated by dividing net income attributable to our shareholders, after deducting preferred share dividends by the daily
average number of fully paid common shares outstanding throughout the year.
Diluted earnings per share is calculated in the same manner, with further adjustments made to reflect the dilutive impact of instruments
convertible into our common shares.
The following table presents our basic and diluted earnings per share:
Basic Earnings per Share
(Canadian $ in millions, except as noted) 2015 2014 2013
Net income attributable to bank shareholders 4,370 4,277 4,130
Dividends on preferred shares (117) (120) (120)
Net income available to common shareholders 4,253 4,157 4,010
Average number of common shares outstanding (in thousands) 644,916 645,860 648,476
Basic earnings per share (Canadian $) 6.59 6.44 6.19
Diluted Earnings per Share
Net income available to common shareholders 4,253 4,157 4,010
Stock options potentially exercisable (1) 9,472 10,832 10,656
Common shares potentially repurchased (7,226) (8,217) (9,326)
Average diluted number of common shares outstanding (in thousands) 647,162 648,475 649,806
Diluted earnings per share (Canadian $) 6.57 6.41 6.17
(1) In computing diluted earnings per share, we excluded average stock options outstanding of 1,906,715, 1,734,932 and 2,677,737 with weighted-average exercise prices of $185.22, $235.07 and
$201.93 for the years ended October 31, 2015, 2014 and 2013, respectively, as the average share price for the period did not exceed the exercise price.
BMO Financial Group 198th Annual Report 2015 191