TD Bank 2012 Annual Report Download - page 180
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TD BANK GROUP ANNUAL REPORT 2012 FINANCIAL RESULTS178
2. RECONCILIATION OF ADDITIONAL PERIODS FROM
CANADIAN GAAP TO IFRS
(a) Equity Reconciliation as at October 31, 2011
The following is a reconciliation of the Bank’s equity reported in
accordance with Canadian GAAP to its equity in accordance with IFRS
as at October 31, 2011 by type of adjustment.
Reconciliation of Consolidated Equity from Canadian GAAP to IFRS
(millions of Canadian dollars) October 31
Section 2011
Equity under Canadian GAAP1 $ 46,852
Effect of transition to IFRS
Mandatory exception under IFRS 1:
Derecognition of financial instruments (securitizations) 3(a) (568)
Hedge accounting 3(b) (12)
(580)
Elective exemption under IFRS 1:
Employee benefits 3(c)(i) (748)
Business combinations 3(d) (2,153)
Designation of financial instruments 3(e) 170
Currency translation differences 3(f) –
(2,731)
Other adjustments:
Loan origination costs 3(g) (356)
Consolidation 3(h) (90)
Employee benefits 3(c)(ii) (77)
Share-based payments 3(i) (110)
Income taxes2 3(j) (81)
Equity securities classified as available-for-sale with no quoted market price 3(k) 89
Currency translation differences 3(l) (265)
Other 3(m) (130)
(1,020)
Presentation differences:
Non-controlling interests in subsidiaries 3(n) 1,483
Total effect of transition to IFRS $ (2,848)
Equity under IFRS $ 44,004
1
’Equity’ was referred to as ‘Shareholders’ Equity’ under Canadian GAAP and did
not include non-controlling interests in subsidiaries.
2
Income taxes relates to all IAS 12 adjustments. All other adjustments are net of
income taxes.
(b) Net Income for the Year Ended October 31, 2011
The following is a reconciliation of the Bank’s net income reported in
accordance with Canadian GAAP to its net income under IFRS for the
year ended October 31, 2011.
Reconciliation of Net Income from Canadian GAAP to IFRS
(millions of Canadian dollars) For the year ended
October 31, 2011
Net income under Canadian GAAP $ 5,889
Effect of transition to IFRS
IFRS adjustments:
Derecognition of financial instruments (securitizations) 38
Employee benefits 70
Business combinations (19)
Loan origination costs 16
Share-based payments (13)
Other (40)
52
Presentation differences:
Non-controlling interests in subsidiaries 104
Total effect of transition to IFRS $ 156
Net income under IFRS $ 6,045