TD Bank 2006 Annual Report Download - page 78

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TD BANK FINANCIAL GROUP ANNUAL REPORT 2006 Financial Results
74
For the years ended October 31
(millions of Canadian dollars) 2006 2005 2004
Interest income
Loans $10,832 $ 8,322 $ 6,958
Securities
Dividends 837 927 859
Interest 3,598 3,112 2,798
Deposits with banks 302 415 517
15,569 12,776 11,132
Interest expense
Deposits 7,081 5,129 3,853
Subordinated notes and debentures 388 328 312
Preferred shares and capital trust securities (Note 12) 126 147 170
Other 1,603 1,164 1,024
9,198 6,768 5,359
Net interest income 6,371 6,008 5,773
Other income
Investment and securities services 2,171 2,417 2,296
Credit fees 371 343 343
Net investment securities gains (Note 2) 305 242 192
Trading income (loss) (Note 22) 797 147 (153)
Service charges 937 787 673
Loan securitizations (Note 4) 346 414 390
Cardservices 383 279 172
Insurance, net of claims (Note 23) 896 826 593
Trust fees 130 111 78
Other 397 323 299
6,733 5,889 4,883
Total revenues 13,104 11,897 10,656
Provision for (reversal of) credit losses (Note 3) 409 55 (386)
Non-interest expenses
Salaries and employee benefits (Note 15) 4,485 4,218 3,780
Occupancy, including depreciation 701 676 612
Equipment, including depreciation 599 609 562
Amortization of other intangibles (Note 5) 505 546 626
Restructuring costs (reversal) (Note 26) 50 43 (7)
Marketing and business development 470 469 384
Brokerage-related fees 164 226 228
Professional and advisory services 510 494 446
Communications 201 205 207
Other (Note 20) 1,042 1,296 1,169
8,727 8,782 8,007
Dilution gain, net (Note 25) 1,559 – –
Income before provision for income taxes,
non-controlling interests in subsidiaries, net of tax,
and equity in net income of associated company 5,527 3,060 3,035
Provision for income taxes (Note 16) 874 699 803
Non-controlling interests in subsidiaries, net of tax 184 132 –
Equity in net income of associated company, net of tax (Note 25) 134 ––
Net income 4,603 2,229 2,232
Preferred dividends 22 ––
Net income available to common shareholders $ 4,581 $ 2,229 $ 2,232
Average number of common shares outstanding (millions) (Note 27)
Basic 716.8 691.3 654.5
Diluted 723.0 696.9 659.4
Earnings per share(Note 27) (in dollars)
Basic $6.39 $3.22 $3.41
Diluted 6.34 3.20 3.39
Dividends per share(in dollars) 1.78 1.58 1.36
The accompanying Notes arean integral part of these Consolidated Financial Statements.
Consolidated Statement of Income