(Unaudited) (Canadian $ in millions, except as noted) For the three months ended For the twelve months ended --- October 31, July 31, October 31, October 31, October 31, 2018 2018 2017 2018 2017 Interest, Dividend and Fee Income Loans $ 4,486 $ 4,246 $ 3,583 $ 16,275 $ 13,564 Securities 746 686 465 2,535 1,801 Deposits with banks 206 161 106 641 324 --- 5,438 5,093 4,154 19,451 15,689 Interest Expense Deposits 1,881 1,626 1,101 6,080 3,894 Subordinated debt 61 55 43 226 155 Other liabilities 827 805 475 2,832 1,633 --- 2,769 2,486 1,619 9,138 5,682 Net Interest Income 2,669 2,607 2,535 10,313 10,007 --- Non-Interest Revenue Securities commissions and fees 257 259 234 1,029 969 Deposit and payment service charges 292 294 282 1,144 1,123 Trading revenues 477 503 302 1,830 1,352 Lending fees 266 248 230 997 917 Card fees 143 144 132 564 479 Investment management and custodial fees 438 446 416 1,742 1,622 Mutual fund revenues 359 372 354 1,473 1,411 Underwriting and advisory fees 242 262 251 936 1,036 Securities gains, other than trading 83 51 41 239 171 Foreign exchange gains, other than trading 42 41 60 182 191 Insurance revenue 485 427 629 1,879 2,070 Investments in associates and joint ventures 38 44 47 167 386 Other 131 122 142 542 526 --- 3,253 3,213 3,120 12,724 12,253 Total Revenue 5,922 5,820 5,655 23,037 22,260 --- Provision for Credit Losses 175 186 202 662 746 --- Insurance Claims, Commissions and Changes in Policy Benefit Liabilities 390 269 573 1,352 1,538 --- Non-Interest Expense Employee compensation 1,612 1,873 1,842 7,459 7,467 Premises and equipment 745 672 628 2,753 2,491 Amortization of intangible assets 125 126 127 503 485 Travel and business development 186 157 183 673 693 Communications 70 70 69 282 286 Professional fees 158 142 172 564 563 Other 328 346 354 1,379 1,345 --- 3,224 3,386 3,375 13,613 13,330 Income Before Provision for Income Taxes 2,133 1,979 1,505 7,410 6,646 Provision for income taxes 438 443 278 1,960 1,296 --- Net Income $ 1,695 $ 1,536 $ 1,227 $ 5,450 $ 5,350 === Attributable to: Bank shareholders 1,695 1,536 1,227 5,450 5,348 Non-controlling interest in subsidiaries 2 --- Net Income $ 1,695 $ 1,536 $ 1,227 $ 5,450 $ 5,350 === Earnings Per Share (Canadian $) Basic $ 2.58 $ 2.32 $ 1.82 $ 8.19 $ 7.95 Diluted 2.57 2.31 1.81 8.17 7.92 Dividends per common share 0.96 0.96 0.90 3.78 3.56 ===
Certain comparative figures have been reclassified to conform with the period's presentation.
Consolidated Statement of Comprehensive Income
(Unaudited) (Canadian $ in millions) For the three months ended For the twelve months ended --- October 31, July 31, October 31, October 31, October 31, 2018 2018 2017 2018 2017 Net Income $ 1,695 $ 1,536 $ 1,227 $ 5,450 $ 5,350 --- Other Comprehensive Income (Loss), net of taxes Items that may subsequently be reclassified to net income Net change in unrealized gains (losses) on fair value through OCI securities (1) Unrealized gains (losses) on fair value through OCI debt securities arising during the period (2) (49) 16 na (251) na Unrealized gains on available-for-sale securities arising during the period (3) na na 27 na 95 Reclassification to earnings of (gains) in the period (4) (22) (7) (17) (65) (87) --- (71) 9 10 (316) 8 Net change in unrealized gains (losses) on cash flow hedges (Losses) on derivatives designated as cash flow hedges arising during the period (5) (309) (218) (27) (1,228) (839) Reclassification to earnings of losses on derivatives designated as cash flow hedges (6) 120 101 36 336 61 --- (189) (117) 9 (892) (778) Net gains (losses) on translation of net foreign operations Unrealized gains (losses) on translation of net foreign operations 303 145 952 417 (885) Unrealized gains (losses) on hedges of net foreign operations (7) (62) (43) (138) (155) 23 --- 241 102 814 262 (862) Items that will not be reclassified to net income Gains (losses) on remeasurement of pension and other employee future benefit plans (8) (42) 204 103 261 420 Gains on remeasurement of own credit risk on financial liabilities designed at fair value (9) (18) 26 (32) (24) (148) --- (60) 230 71 237 272 Other Comprehensive Income (Loss), net of taxes (79) 224 904 (709) (1,360) --- Total Comprehensive Income $ 1,616 $ 1,760 $ 2,131 $ 4,741 $ 3,990 === Attributable to: Bank shareholders 1,616 1,760 2,131 4,741 3,988 Non-controlling interest in subsidiaries 2 --- Total Comprehensive Income $ 1,616 $ 1,760 $ 2,131 $ 4,741 $ 3,990 ===
(CONTINUA)
