TD Bank 2009 Annual Report Download - page 152

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TD BANK FINANCIAL GROUP ANNUAL REPORT 2009 TEN-YEAR STATISTICAL REVIEW148
Ten-year Statistical Review
Reconciliation of Non-GAAP Financial Measures1
(millions of Canadian dollars) 2009 2008 2007
Net income available to common shareholders – reported $ 2,953 $ 3,774 $ 3,977
Items of note affecting net income, net of income taxes
Amortization of intangibles 492 404 353
Reversal of Enron litigation reserve –(323) –
Increase (decrease) in fair value of derivatives hedging the reclassified
available-for-sale debt securities portfolio 450 (118) –
Gain relating to restructuring of VISA –– (135)
TD Banknorth restructuring, privatization and merger-related charges ––43
Restructuring and integration charges relating to the Commerce acquisition
276 70 –
Increase (decrease) in fair value of credit default swaps hedging the corporate loan book
126 (107) (30)
Other tax items2–34 –
Provision for insurance claims –20 –
General allowance increase (release) relating to Canadian Personal and
Commercial Banking (excluding VFC) and Wholesale Banking 178 – (39)
Settlement of TD Banknorth shareholder litigation 39 ––
FDIC special assessment charge 35 ––
Amortization of goodwill –––
Dilution gain on Ameritrade transaction, net of costs –––
Dilution loss on the acquisition of Hudson by TD Banknorth –––
Balance sheet restructuring charge in TD Banknorth –––
Wholesale banking restructuring charge –––
Goodwill impairment –––
Sale of Wealth Management’s Mutual Funds record keeping business –––
Special Investment Real Estates gains –––
General reserves –––
Non-core portfolio loan loss recoveries (sectoral related) –––
Loss on structured derivative portfolios –––
Tax charge related to reorganizations –––
Preferred share redemption –––
Initial set up of specific allowance for credit card and overdraft loans –––
Litigation charge –––
Total items of note 1,596 (20) 192
Net income available to common shareholders – adjusted $ 4,549 $ 3,754 $ 4,169
Condensed Consolidated Statement of Changes in Shareholders’ Equity
(millions of Canadian dollars) 2009 2008 2007
Common shares $ 15,357 $ 13,241 $ 6,577
Preferred shares 3,395 1,875 425
Contributed surplus 321 350 119
Retained earnings 18,632 17,857 15,954
Accumulated other comprehensive income (loss) 1,015 (1,649) (1,671)
Total shareholders’ equity $ 38,720 $ 31,674 $ 21,404
Other Statistics – Reported
2009 2008 2007
Per common share31Basic earnings $ 3.49 $ 4.90 $ 5.53
2Diluted earnings 3.47 4.87 5.48
3Dividends 2.44 2.36 2.11
4Book value 41.13 36.78 29.23
5Closing market price 61.68 56.92 71.35
6Closing market price to book value 1.50 1.55 2.44
7Closing market price appreciation 8.4% (20.2)% 9.6%
8Total shareholder return 13.6 (17.1) 13.0
Performance ratios 9 Return on total common equity 8.4% 14.4% 19.3%
10 Return on risk-weighted assets 1.56 2.22 2.69
11 Efficiency ratio 68.4 64.8 62.8
12 Net interest rate margin 2.54 2.22 2.06
13 Common dividend payout ratio 70.3 49.0 38.1
14 Dividend yield44.8 3.8 3.0
15 Price earnings ratio517.8 11.7 13.0
Asset quality 16 Impaired loans net of specific allowance as a % of net loans60.67% 0.35% 0.20%
17 Net impaired loans as a % of common equity 4.96 2.70 1.74
18 Provision for credit losses as a % of net average loans60.97 0.50 0.37
Capital ratios 19 Tier 1 capital ratio 11.3% 9.8% 10.3%
20 Total capital ratio 14.9 12.0 13.0
Other 21 Common equity to total assets 6.3 5.3 5.0
22 Number of common shares outstanding (thousands)3858,822 810,121 717,814
23 Market capitalization (millions of Canadian dollars) $ 52,972 $ 46,112 $ 51,216
24 Average number of employees765,930 58,792 51,163
25 Number of retail outlets82,205 2,238 1,733
26 Number of retail brokerage offices 190 249 211
27 Number of Automated Banking Machines 4,197 4,147 3,344
Other Statistics – Adjusted
2009 2008 2007
Per common share31Basic earnings $ 5.37 $ 4.92 $ 5.80
2Diluted earnings 5.35 4.88 5.75
Performance ratios 3 Return on total common equity 12.9% 14.3% 20.3%
4Return on risk-weighted assets 2.27 2.18 2.80
5Efficiency ratio 59.2 64.6 59.6
6Common dividend payout ratio 45.6 49.3 36.4
7Price earnings ratio511.6 11.6 12.4