Consolidated Financial Statements
Consolidated Statement of Cash Flows
Download Excel version| For the Year Ended October 31 (Canadian $ in millions) | 2010 | 2009 | 2008 | |||
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The accompanying notes are an integral part of these consolidated financial statements. |
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Cash Flows from Operating Activities |
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| Net income | $ | 2,810 | $ | 1,787 | $ | 1,978 |
| Adjustments to determine net cash flows provided by (used in) operating activities | ||||||
| Impairment write-down of securities, other than trading (Note 3 PDF) | 40 | 301 | 324 | |||
| Net (gain) loss on securities, other than trading (Note 3 PDF) | (190) | 53 | (9) | |||
| Net (increase) decrease in trading securities | (13,707) | 7,207 | 8,275 | |||
| Provision for credit losses | 1,049 | 1,603 | 1,330 | |||
| (Gain) on sale of securitized loans (Note 8 PDF) | (496) | (700) | (420) | |||
| Change in derivative instruments | ||||||
| – (Increase) decrease in derivative asset | (2,803) | 14,010 | (29,370) | |||
| – Increase (decrease) in derivative liability | 4,775 | (9,510) | 20,645 | |||
| Amortization of premises and equipment (Note 11 PDF) | 267 | 269 | 252 | |||
| (Gain) on sales of land and buildings | (4) | (10) | (13) | |||
| Amortization of intangible assets | 203 | 203 | 183 | |||
| Net (increase) decrease in future income taxes | (62) | 186 | (157) | |||
| Net (increase) decrease in current income taxes | (229) | 296 | (314) | |||
| Change in accrued interest | ||||||
| – (Increase) decrease in interest receivable | (75) | 387 | 303 | |||
| – (Decrease) in interest payable | (119) | (492) | (351) | |||
| Changes in other items and accruals, net | 1,957 | (2,796) | 1,590 | |||
| Net Cash Provided by (Used in) Operating Activities | (6,584) | 12,794 | 4,246 | |||
Cash Flows from Financing Activities |
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| Net increase (decrease) in deposits | 16,762 | (11,149) | (1,412) | |||
| Net increase (decrease) in securities sold but not yet purchased | 4,662 | (6,446) | (7,251) | |||
| Net increase (decrease) in securities lent or sold under repurchase agreements | 2,043 | 17,467 | (3,731) | |||
| Net increase (decrease) in liabilities of subsidiaries | (10) | (113) | 2,045 | |||
| Repayment of subordinated debt (Note 17 PDF) | (500) | (140) | (150) | |||
| Proceeds from issuance of subordinated debt (Note 17 PDF) | – | – | 900 | |||
| Redemption of preferred share liability (Note 20 PDF) | – | (250) | – | |||
| Proceeds from issuance of preferred shares (Note 20 PDF) | – | 825 | 550 | |||
| Proceeds from issuance of common shares (Note 20 PDF) | 197 | 1,087 | 60 | |||
| Redemption of Capital Trust Securities (Note 18 PDF) | (350) | – | – | |||
| Share issue expense | (3) | (32) | (10) | |||
| Cash dividends paid | (1,175) | (1,312) | (1,361) | |||
| Net Cash Provided by (Used in) Financing Activities | 21,626 | (63) | (10,360) | |||
Cash Flows from Investing Activities |
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| Net decrease in interest bearing deposits with banks | 383 | 8,656 | 10,077 | |||
| Purchases of securities, other than trading | (28,587) | (41,041) | (21,303) | |||
| Maturities of securities, other than trading | 13,879 | 10,800 | 16,984 | |||
| Proceeds from sales of securities, other than trading | 15,329 | 18,917 | 8,268 | |||
| Net (increase) in loans | (17,531) | (3,107) | (28,507) | |||
| Proceeds from securitization of loans (Note 8) | 4,279 | 6,796 | 11,448 | |||
| Net (increase) decrease in securities borrowed or purchased under resale agreements | 6,725 | (10,985) | 14,665 | |||
| Proceeds from sales of land and buildings | 5 | 17 | 19 | |||
| Premises and equipment – net purchases | (207) | (204) | (285) | |||
| Purchased and developed software – net purchases | (274) | (176) | (164) | |||
| Acquisitions (Note 12 PDF) | (1,029) | (328) | (155) | |||
| Net Cash Provided by (Used in) Investing Activities | (7,028) | (10,655) | 11,047 | |||
| Effect of Exchange Rate Changes on Cash and Cash Equivalents | (601) | (1,255) | 551 | |||
| Net Increase in Cash and Cash Equivalents | 7,413 | 821 | 5,484 | |||
| Cash and Cash Equivalents at Beginning of Year | 9,955 | 9,134 | 3,650 | |||
Cash and Cash Equivalents at End of Year |
$ | 17,368 | $ | 9,955 | $ | 9,134 |
Represented by: |
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| Cash and non-interest bearing deposits with Bank of Canada and other banks | $ | 16,693 | $ | 8,656 | $ | 6,936 |
| Cheques and other items in transit, net | 675 | 1,299 | 2,198 | |||
| $ | 17,368 | $ | 9,955 | $ | 9,134 | |
Supplemental Disclosure of Cash Flow Information |
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| Amount of interest paid in the year | $ | 3,371 | $ | 5,507 | $ | 9,900 |
| Amount of income taxes paid (refunded) in the year | $ | 897 | $ | (232) | $ | 456 |
