TD Bank 2006 Annual Report Download - page 79

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TD BANK FINANCIAL GROUP ANNUAL REPORT 2006 Financial Results 75
For the years ended October 31
(millions of Canadian dollars) 2006 2005 2004
Common shares (Note 13)
Balance at beginning of year $ 5,872 $ 3,373 $ 3,179
Shares issued on exercise of options 119 125 99
Shares issued as a result of dividend reinvestment plan 328 380 174
Impact of shares (acquired) sold in Wholesale Banking (20) 6(41)
Repurchase of common shares (35) – (38)
Issued on acquisition of TD Banknorth (Note 25) –1,988 –
Issued on acquisition of VFC (Note 25) 70 ––
Balance at end of year 6,334 5,872 3,373
Preferred shares
Shares issued (Note 13) 425 ––
Balance at end of year 425 ––
Contributed surplus
Balance at beginning of year 40 20 9
Stock options (Note 14) 26 20 11
Balance at end of year 66 40 20
Foreign currency translation adjustments
Balance at beginning of year (696) (265) (130)
Net foreign exchange losses from investments in subsidiaries and other items (720) (718) (739)
Impact of reduction in investment in TD Waterhouse U.S.A. (Note 25) 66 ––
Net foreign exchange gains from hedging activities 641 428 1,004
Provision for income taxes (Note 16) (209) (141) (400)
Balance at end of year (918) (696) (265)
Retained earnings
Balance at beginning of year 10,650 9,540 8,518
Net income 4,603 2,229 2,232
Common dividends (1,278) (1,098) (890)
Preferred dividends (22) – –
Termination of equity-based compensation plan ––(24)
Premium paid on repurchase of common shares (229) –(312)
Other 1(21) 16
Balance at end of year 13,725 10,650 9,540
Total shareholders’ equity $19,632 $15,866 $12,668
The accompanying Notes are an integral part of these Consolidated Financial Statements.
Consolidated Statement of Changes in Shareholders’ Equity