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U.S.
GAAPU.S.
GAAP Management’s
responsibility for financial reporting | ||||||
| Consolidated statement of income | ||||||
| For the year ended October 31 (C$ millions) | 2002 | 2001 | 2000 | |||
| Interest income | ||||||
| Loans | $ | 10,463 | $ | 12,032 | $ | 11,538 |
| Trading account securities | 1,945 | 2,143 | 1,519 | |||
| Available for sale securities | 1,130 | 1,138 | 1,150 | |||
| Assets purchased under reverse repurchase agreements | 651 | 1,163 | 1,078 | |||
| Deposits with banks | 482 | 831 | 824 | |||
| 14,671 | 17,307 | 16,109 | ||||
| Interest expense | ||||||
| Deposits | 5,709 | 8,712 | 9,057 | |||
| Other liabilities | 1,405 | 1,688 | 1,429 | |||
| Subordinated debentures | 406 | 410 | 344 | |||
| 7,520 | 10,810 | 10,830 | ||||
| Net interest income | 7,151 | 6,497 | 5,279 | |||
| Provision for credit losses | 1,065 | 1,119 | 691 | |||
| 6,086 | 5,378 | 4,588 | ||||
| Non-interest revenue | ||||||
| Capital market fees | 1,866 | 1,523 | 1,538 | |||
| Trading revenues | 1,766 | 1,820 | 1,540 | |||
| Investment management and custodial fees | 1,179 | 1,096 | 860 | |||
| Deposit and payment service charges | 1,041 | 887 | 756 | |||
| Mutual fund revenues | 723 | 692 | 624 | |||
| Card service revenues | 285 | 290 | 420 | |||
| Foreign exchange revenue, other than trading | 277 | 300 | 299 | |||
| Insurance revenues | 255 | 263 | 151 | |||
| Mortgage banking revenues | 240 | 206 | – | |||
| Credit fees | 223 | 237 | 212 | |||
| Securitization revenues | 172 | 125 | 104 | |||
| Loss on sale of securities | (95) | (128) | (11) | |||
| Gain from divestitures | – | 445 | – | |||
| Other | 647 | 399 | 187 | |||
| 8,579 | 8,155 | 6,680 | ||||
| Non-interest expense | ||||||
| Human resources | 6,263 | 5,696 | 4,695 | |||
| Occupancy | 788 | 716 | 570 | |||
| Equipment | 752 | 713 | 664 | |||
| Communications | 790 | 679 | 695 | |||
| Professional fees | 419 | 411 | 267 | |||
| Amortization of goodwill | – | 252 | 80 | |||
| Amortization of other intangibles | 72 | 36 | 11 | |||
| Other | 1,160 | 1,138 | 646 | |||
| 10,244 | 9,641 | 7,628 | ||||
| Net income before income taxes | 4,421 | 3,892 | 3,640 | |||
| Income taxes | 1,415 | 1,350 | 1,412 | |||
| Net income before non-controlling interest | 3,006 | 2,542 | 2,228 | |||
| Non-controlling interest in net income of subsidiaries | 108 | 107 | 20 | |||
| Net income | $ | 2,898 | $ | 2,435 | $ | 2,208 |
| Preferred share dividends | 98 | 135 | 134 | |||
| Net income available to common shareholders | $ | 2,800 | $ | 2,300 | $ | 2,074 |
| Average number of common shares (in thousands) | 672,571 | 641,516 | 606,389 | |||
| Earnings per share (in dollars) | $ | 4.16 | $ | 3.58 | $ | 3.42 |
| Average number of diluted common shares (in thousands) | 679,153 | 647,216 | 609,865 | |||
| Diluted earnings per share (in dollars) | $ | 4.12 | $ | 3.55 | $ | 3.40 |
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Consolidated statement of income 
