TD Bank 2003 Annual Report Download - page 98

TD BANK FINANCIAL GROUP ANNUAL REPORT 2003 • Quarterly Results96
Quarterly results – reported basis
2003 2002
Quarter ended Quarter ended
(millions of dollars) October 31 July 31 April 30 January 31 October 31 July 31 April 30 January 31
Net interest income $1,379 $1,402 $1,445 $1,390 $1,388 $1,404 $1,308 $1,200
Provision for credit losses (83) 59 98 112 950 1,250 400 325
Net interest income after
credit loss provision 1,462 1,343 1,347 1,278 438 154 908 875
Other income 1,094 1,193 968 1,169 1,054 1,038 1,189 1,648
Net interest and other income 2,556 2,536 2,315 2,447 1,492 1,192 2,097 2,523
Non-interest expenses 1,960 1,883 2,564 1,957 1,861 1,882 1,944 2,065
Income (loss) before provision
for (benefit of) income taxes
and non-controlling interest in
net income of subsidiaries 596 653 (249) 490 (369) (690) 153 458
Provision for (benefit of) income taxes 72 129 1 120 (189) (298) (21) 63
Non-controlling interest in net
income of subsidiaries 23 23 23 23 16 13 18 17
Net income (loss) 501 501 (273) 347 (196) (405) 156 378
Preferred dividends 21 21 22 23 23 23 24 23
Net income (loss) applicable
to common shares $ 480 $ 480 $ (295) $ 324 $ (219) $ (428) $ 132 $ 355
(dollars)
Basic net income (loss) per
common share $ .74 $ .74 $ (.46) $ .50 $ (.34) $ (.67) $ .20 $ .56
Diluted net income (loss) per
common share .73 .73 (.46) .50 (.34) (.67) .20 .55
Return on common shareholders’ equity 16.7% 17.1% (10.5)% 11.1% (7.4)% (13.9)% 4.4% 11.5%
(billions of dollars)
Average earning assets $ 242 $ 259 $ 259 $ 248 $ 250 $ 257 $ 261 $ 259
Net interest income as a % of
average earning assets 2.26% 2.15% 2.29% 2.22% 2.20% 2.17% 2.06% 1.84%
Quarterly results – operating cash basis1
2003 2002
Quarter ended Quarter ended
(millions of dollars) October 31 July 31 April 30 January 31 October 31 July 31 April 30 January 31
Net interest income (TEB) $1,441 $1,460 $1,501 $1,444 $1,441 $1,452 $1,368 $1,261
Provision for credit losses (83) 59 98 112 950 1,250 400 325
Net interest income after
credit loss provision 1,524 1,401 1,403 1,332 491 202 968 936
Other income 1,094 1,193 968 1,169 1,054 1,016 1,189 1,630
Net interest and other income 2,618 2,594 2,371 2,501 1,545 1,218 2,157 2,566
Non-interest expenses 1,785 1,697 2,365 1,745 1,635 1,641 1,687 1,791
Income (loss) before provision for
(benefit of) income taxes and
non-controlling interest in net
income of subsidiaries 833 897 6 756 (90) (423) 470 775
Provision for (benefit of) income
taxes (TEB) 197 254 129 253 (66) (167) 136 230
Non-controlling interest in net
income of subsidiaries 23 23 23 23 16 13 18 17
Net income (loss) 613 620 (146) 480 (40) (269) 316 528
Preferred dividends 21 21 22 23 23 23 24 23
Net income (loss) applicable to
common shares $ 592 $ 599 $ (168) $ 457 $ (63) $ (292) $ 292 $ 505
(dollars)
Basic net income (loss) per
common share $ .91 $ .92 $ (.26) $ .71 $ (.10) $ (.46) $ .46 $ .79
Diluted net income (loss) per
common share .90 .91 (.26) .70 (.10) (.46) .45 .78
Return on common shareholders’equity 20.6% 21.4% (6.0)% 15.6% (2.1)% (9.5)% 9.7% 16.4%
(billions of dollars)
Average earning assets $ 242 $ 259 $ 259 $ 248 $ 250 $ 257 $ 261 $ 259
Net interest income (TEB) as a %
of average earning assets 2.36% 2.24% 2.38% 2.31% 2.29% 2.25% 2.15% 1.93%
Quarterly Results
1Operating cash basis measurements are defined in the
“How the Bank reports” section on page 10 of this Annual Report.