TD Bank 2003 Annual Report Download - page 47

TD BANK FINANCIAL GROUP ANNUAL REPORT 2003 • Management’s Discussion and Analysis 45
TABLE 2Analysis of change in net interest income
Operating cash basis
(millions of dollars) 2003 vs. 2002 2002 vs. 2001
Favourable (unfavourable) Favourable (unfavourable)
due to change in due to change in
Average Average Net Average Average Net
volume rate change volume rate change
Total earning assets $(191) $ (205) $ (396) $ 373 $(3,061) $ (2,688)
Total interest-bearing liabilities 223 497 720 (176) 3,750 3,574
Net interest income (TEB) $ 32 $ 292 $ 324 $ 197 $ 689 $ 886
TABLE 1 Page 45 Operating cash basis measurements
TABLE 2 Page 45 Analysis of change in net interest income
TABLE 3 Page 46 Net interest rate margin
TABLE 4 Page 46 Average earning balances and interest rates
TABLE 5 Page 47 Other income
TABLE 6 Page 47 Trading related income
TABLE 7 Page 48 Non-interest expenses and efficiency ratio
TABLE 8 Page 49 Taxes
TABLE 9 Page 49 Loans to small and mid-sized business customers
TABLE 10 Page 49 Fees paid to the shareholders’ auditors
TABLE 11 Page 50 Loans and customers’ liability under acceptances,
net of allowance for credit losses
TABLE 12 Page 51 Impaired loans less allowance for credit losses
TABLE 13 Page 51 Impact on net interest income due to impaired
loans
TABLE 14 Page 52 Provision for credit losses
TABLE 15 Page 53 Current replacement cost of derivatives
TABLE 16 Page 53 Assets under administration and assets under
management
TABLE 17 Page 53 Contractual obligations by remaining maturity
Supplementary Information
1Operating cash basis measurements are defined in the “How the Bank
reports” section on page 10 of this Annual Report.
2The Bank’s non-cash identified intangible amortization charges relate
to the Canada Trust acquisition in fiscal 2000.
TABLE 1Operating cash basis measurements1
2003 2002 2001
Diluted earnings (loss) per common share – operating cash basis $ 2.26 $ .68 $ 3.27
Adjustments for non-cash/special items:
Amortization of intangible assets, net of income taxes2(.75) (.98) (.69)
Amortization of goodwill, net of income taxes ––(.30)
Special increase in general provision, net of income taxes ––(.33)
Gain on sale of mutual fund record keeping and custody business, net of income taxes –.05 –
Gains on sale of investment real estate, net of income taxes ––.43
Restructuring costs, net of income taxes ––(.21)
Income tax expense from income tax rate changes ––(.12)
Diluted earnings (loss) per common share – reported basis $ 1.51 $ (.25) $ 2.05
Return on common shareholders’ equity – operating cash basis
Net income applicable to common shares (millions of dollars) $ 1,480 $ 442 $ 2,075
Average common shareholders’ equity (millions of dollars) 11,396 12,144 11,505
Return on common shareholders’ equity 13.0% 3.6% 18.0%
Return on common shareholders’ equity – reported basis
Net income applicable to common shares (millions of dollars) $ 989 $ (160) $ 1,300
Average common shareholders’ equity (millions of dollars) 11,396 12,144 11,505
Return on common shareholders’ equity 8.7% (1.3)% 11.3%
Reported basis
(millions of dollars) 2003 vs. 2002 2002 vs. 2001
Favourable (unfavourable) Favourable (unfavourable)
due to change in due to change in
Average Average Net Average Average Net
volume rate change volume rate change
Total earning assets $ (182) $ (222) $ (404) $ 379 $(3,044) $ (2,665)
Total interest-bearing liabilities 223 497 720 (176) 3,750 3,574
Net interest income $ 41 $ 275 $ 316 $ 203 $ 706 $ 909