TD Bank 2011 Annual Report Download - page 50

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TD BANK GROUP ANNUAL REPORT 2011 MANAGEMENT’S DISCUSSION AND ANALYSIS48
(millions of Canadian dollars, except as noted) Percentage of total
2011 2010 2009 2011 2010 2009
Canada
Residential mortgages1,2 $ 11 $ 5 $ 5 0.8% 0.3% 0.3%
Credit card, consumer instalment and other personal 754 856 882 52.7 49.6 54.7
Total personal 765 861 887 53.5 49.9 55.0
Real estate
Residential (6) 5 11 (0.4) 0.3 0.7
Non-residential 2 2 1 0.1 0.1 0.1
Total real estate (4) 7 12 (0.3) 0.4 0.8
Agriculture – 2 (1) – 0.1 (0.1)
Automotive 2 5 10 0.1 0.3 0.6
Financial 1 2 16 0.1 0.1 0.9
Food, beverage, and tobacco 5 7 5 0.4 0.4 0.3
Forestry – (12) 18 – (0.7) 1.1
Government, public sector entities and education3 2 2 – 0.1 0.1 –
Health and social services3 – 8 1 – 0.5 0.1
Industrial construction and trade contractors 13 12 9 0.9 0.7 0.6
Metals and mining (1) 2 4 (0.1) 0.1 0.2
Pipelines, oil and gas (8) 2 8 (0.6) 0.1 0.5
Power and utilities3 – – – – – –
Professional and other services3 11 8 12 0.8 0.5 0.7
Retail sector 24 43 31 1.7 2.6 1.9
Sundry manufacturing and wholesale – 24 13 – 1.4 0.8
Telecommunications, cable and media3 (2) (5) 19 (0.1) (0.3) 1.2
Transportation 7 4 9 0.5 0.2 0.6
Other3 3 6 11 0.2 0.3 0.7
Total business and government 53 117 177 3.7 6.8 10.9
Total Canada 818 978 1,064 57.2 56.7 65.9
United States
Residential mortgages 17 20 17 1.2 1.2 1.1
Credit card, consumer instalment and other personal 197 223 198 13.8 12.9 12.3
Total personal 214 243 215 15.0 14.1 13.4
Real estate
Residential 70 103 73 4.9 6.0 4.5
Non-residential 60 57 51 4.2 3.3 3.1
Total real estate 130 160 124 9.1 9.3 7.6
Agriculture – 3 1 – 0.2 0.1
Automotive 1 6 6 0.1 0.3 0.4
Financial 8 16 28 0.6 0.9 1.7
Food, beverage, and tobacco 1 6 – 0.1 0.3 –
Forestry – (16) 19 – (0.9) 1.2
Government, public sector entities and education3 1 – – 0.1 – –
Health and social services 4 13 8 0.3 0.8 0.5
Industrial construction and trade contractors 22 17 12 1.5 1.0 0.7
Metals and mining 9 2 5 0.6 0.1 0.3
Pipelines, oil and gas (18) 2 5 (1.3) 0.1 0.3
Power and utilities 3 (1) (2) 0.2 (0.1) (0.1)
Professional and other services3 25 34 19 1.7 2.0 1.2
Retail sector 20 50 20 1.4 2.9 1.2
Sundry manufacturing and wholesale 7 48 26 0.5 2.8 1.6
Telecommunications, cable and media 4 28 9 0.3 1.6 0.6
Transportation 9 7 – 0.6 0.4 –
Other3 6 4 8 0.4 0.2 0.5
Total business and government1 232 379 288 16.2 21.9 17.8
Total United States 446 622 503 31.2 36.0 31.2
International
Business and government – (2) 3 – (0.1) 0.2
Total international – (2) 3 – (0.1) 0.2
Total excluding other loans 1,264 1,598 1,570 88.4 92.6 97.3
Other loans
Debt securities classified as loans4 85 128 44 5.9 7.4 2.7
Acquired credit-impaired loans5 81 – – 5.7 – –
Total other loans 166 128 44 11.6 7.4 2.7
Total specific provision $ 1,430 $ 1,726 $ 1,614 100.0% 100.0% 100.0%
General provision
Personal, business and government 45 (4) 660
Debt securities classified as loans4 (10) (97) 206
Total general provision 35 (101) 866
Total provision for credit losses $ 1,465 $ 1,625 $ 2,480
PROVISION FOR CREDIT LOSSES BY INDUSTRY SECTOR
TABLE 37
1 Includes trading loans that the Bank intends to sell immediately or in the near
term with a fair value of $253 million (2010 – $188 million) and amortized cost of
$253 million (2010 – $188 million), and loans designated as trading under the fair
value option of $14 million (2010 – $85 million) and amortized cost of $5 million
(2010 – $86 million). No allowance is recorded for trading loans or loans desig-
nated as trading under the fair value option.
2 Effective 2009, MUR mortgages, and any related credit losses, have been reclassified
from personal – residential mortgages to business & government retroactively to
2008. This is to achieve consistent reporting across all operating business segments.
3 Certain industry categories have been consolidated and certain amounts have been
reclassified in line with accepted norms and thresholds for industry disclosure.
4 As a result of the 2009 Amendments to CICA Handbook Section 3855, certain
available-for-sale and held-to-maturity securities were reclassified to loans.
5 Includes all FDIC covered loans and other acquired credit-impaired loans.