TD Bank 2006 Annual Report Download - page 120

TD BANK FINANCIAL GROUP ANNUAL REPORT 2006 Ten-year Statistical Review
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Condensed Consolidated Balance Sheet
(millions of Canadian dollars) 2006 2005 2004
Assets
Cash resources and other $ 10,782 $ 13,418 $ 9,038
Securities 124,458 108,096 98,280
Securities purchased under reverse repurchase agreements 30,961 26,375 21,888
Loans (net of allowance for credit losses) 160,608 152,243 123,924
Other 66,105 65,078 57,897
Total 392,914 365,210 311,027
Liabilities
Deposits $260,907 $246,981 $206,893
Other 101,242 93,722 83,262
Subordinated notes and debentures 6,900 5,138 5,644
Liabilities for preferred shares and capital trust securities 1,794 1,795 2,560
Non-controlling interest in subsidiaries 2,439 1,708 –
373,282 349,344 298,359
Shareholders’ equity
Common shares 6,334 5,872 3,373
Preferred shares 425 ––
Contributed surplus 66 4020
Foreign currency translation adjustments (918) (696) (265)
Retained earnings 13,725 10,650 9,540
19,632 15,866 12,668
Total $392,914 $365,210 $311,027
Condensed Consolidated Statement of Income – Reported
(millions of Canadian dollars) 2006 2005 2004
Net interest income $6,371 $6,008 $ 5,773
Other income 6,733 5,889 4,883
Total revenues 13,104 11,897 10,656
Dilution gain on investment, net of cost 1,559 – –
Provision for (reversal of) credit losses 409 55 (386)
Non-interest expenses 8,727 8,782 8,007
Income (loss) beforeprovision for (benefit of) income taxes 5,527 3,060 3,035
Provision for (benefit of) income taxes 874 699 803
Non-controlling interest in net income of subsidiaries 184 132 –
Equity in net income of associated company, net of tax 134 ––
Net income (loss) 4,603 2,229 2,232
Preferred dividends 22 – –
Net income (loss) available to common shareholders $ 4,581 $ 2,229 $ 2,232
Condensed Consolidated Statement of Income – Adjusted
(millions of Canadian dollars) 2006 2005 2004
Net interest income $ 6,371 $ 6,021 $ 5,773
Other income 6,774 6,015 4,961
Total revenues 13,145 12,036 10,734
Dilution gain on investment, net of cost –– –
Provision for (reversal of) credit losses 441 319 336
Non-interest expenses 8,172 7,825 7,081
Income (loss) before provision for (benefit of) income taxes 4,532 3,892 3,317
Provision for (benefit of) income taxes 1,107 899 832
Non-controlling interest in net income of subsidiaries 211 132 –
Equity in net income of associated company,net of tax 162 – –
Net income 3,376 2,861 2,485
Preferred dividends 22 ––
Net income available to common shareholders $ 3,354 $ 2,861 $ 2,485
Reconciliation of non-GAAP measures2
(millions of Canadian dollars) 2006 2005 2004
Net income available to common shareholders – reported $ 4,581 $ 2,229 $ 2,232
Items of note affecting net income, net of income taxes
Amortization of intangibles 316 354 477
Amortization of goodwill –– –
Dilution gain on Ameritrade transaction, net of costs (1,665) ––
Dilution loss on the acquisition of Hudson by TD Banknorth 72 ––
Balance sheet restructuring charge in TD Banknorth 19 – –
Restructuring charge 35 29 –
Goodwill Impairment –– –
Sale of Wealth Management’s Mutual Funds record keeping business –– –
Special Investment Real Estates Gains –– –
General Reserves –––
Hedging impact due to AcG-13 (7) (17) 50
General allowance release (39) (23) (43)
Non-core portfolio loan loss recoveries (sectoral related) –(127) (426)
Loss on structured derivative portfolios –100 –
Tax charge related to reorganizations –163 –
Other tax items324 (98) –
Preferred share redemption –13–
Initial set up of specific allowance for credit card and overdraft loans 18 ––
Litigation charge –238 195
Total items of note (1,227) 632 253
Net income available to common shareholders – adjusted $ 3,354 $ 2,861 $ 2,485
Ten-year Statistical Review1