TD Bank 2001 Annual Report Download - page 46

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44
FINANCIAL RESULTS
For the years ended October 31
(millions of dollars) 2001 2000 1999
Preferred shares (Note 9)
Balance at beginning of year $ 1,251 $ 833 $ 845
Proceeds from share issues 225 410 –
Translation adjustment on shares issued in a foreign currency 16 8 (12)
Balance at end of year 1,492 1,251 833
Common shares (Note 9)
Balance at beginning of year 2,060 2,006 1,301
Issued on acquisition of subsidiaries 181 41 –
Proceeds from shares issued for cash –– 700
Proceeds from shares issued on exercise of options 18 13 5
Balance at end of year 2,259 2,060 2,006
Retained earnings
Balance at beginning of year 9,039 8,694 6,387
Net income 1,383 1,025 2,981
Preferred dividends (83) (56) (43)
Common dividends (684) (572) (433)
Foreign currency translation adjustments, net of income taxes 171 2 (149)
Stock options settled in cash, net of income taxes (39) (41) (37)
Obligations arising from adoption of new accounting standard
for employee future benefits, net of income taxes (Note 1) (132) ––
Other (2) (13) (12)
Balance at end of year 9,653 9,039 8,694
Total common equity 11,912 11,099 10,700
Total shareholders’ equity $ 13,404 $ 12,350 $ 11,533
See Notes to consolidated financial statements page 46
Consolidated statement of changes in shareholders’ equity