Consolidated Financial Statements
Consolidated Statement of
Comprehensive Income
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| For the Year Ended October 31 (Canadian $ in millions) | 2010 | 2009 | 2008 | |||
|---|---|---|---|---|---|---|
| Net income | $ | 2,810 | $ | 1,787 | $ | 1,978 |
| Other Comprehensive Income | ||||||
| Net change in unrealized gains (losses) on available-for-sale securities |
35 | 554 | (109) | |||
| Net change in unrealized gains (losses) on cash flow hedges |
48 | (244) | 424 | |||
| Net gain (loss) on translation of net foreign operations |
(242) | (458) | 967 | |||
Total Comprehensive Income |
$ | 2,651 | $ | 1,639 | $ | 3,260 |
Consolidated Statement of Changes
in Shareholders’ Equity
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| For the Year Ended October 31 (Canadian $ in millions, except as noted) | 2010 | 2009 | 2008 | |||
|---|---|---|---|---|---|---|
|
The accompanying notes are an integral part of these consolidated financial statements. |
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Preferred Shares(Note 20 PDF) |
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| Balance at beginning of year | $ | 2,571 | $ | 1,746 | $ | 1,196 |
| Issued during the year | – | 825 | 550 | |||
| Balance at End of Year | 2,571 | 2,571 | 1,746 | |||
Common Shares(Note 20 PDF) |
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| Balance at beginning of year | 6,198 | 4,773 | 4,411 | |||
| Issued during the year | – | 1,000 | – | |||
| Issued under the Shareholder Dividend Reinvestment and Share Purchase Plan (Note 20 PDF) | 537 | 338 | 122 | |||
| Issued under the Stock Option Plan (Note 20 PDF) | 192 | 87 | 60 | |||
| Issued on the acquisition of a business | – | – | 180 | |||
| Balance at End of Year | 6,927 | 6,198 | 4,773 | |||
Treasury Shares(Note 20 PDF) |
– | – | (65) | |||
Contributed Surplus |
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| Balance at beginning of year | 79 | 69 | 58 | |||
| Stock option expense/exercised (Note 22 PDF) | 13 | 8 | 11 | |||
| Premium on treasury shares | – | 2 | – | |||
| Balance at End of Year | 92 | 79 | 69 | |||
Retained Earnings |
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| Balance at beginning of year | 11,748 | 11,632 | 11,166 | |||
| Net income | 2,810 | 1,787 | 1,978 | |||
| Dividends | ||||||
| – Preferred shares (Note 20 PDF) | (136) | (120) | (73) | |||
| – Common shares (Note 20 PDF) | (1,571) | (1,530) | (1,410) | |||
| Share issue expense | (3) | (32) | (10) | |||
| Treasury shares | – | 11 | (19) | |||
| Balance at End of Year | 12,848 | 11,748 | 11,632 | |||
Accumulated Other Comprehensive Income (Loss) on Available-for-Sale Securities |
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| Balance at beginning of year | 480 | (74) | 35 | |||
| Unrealized gains (losses) on available-for-sale securities arising during the year (net of income tax (provision) recovery of $(21), $(253) and $137) | 108 | 491 | (280) | |||
| Reclassification to earnings of (gains) losses in the year (net of income tax (provision) recovery of $25, $(26) and $(84)) | (73) | 63 | 171 | |||
| Balance at End of Year | 515 | 480 | (74) | |||
Accumulated Other Comprehensive Income on Cash Flow Hedges |
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| Balance at beginning of year | 14 | 258 | (166) | |||
| Gains (losses) on cash flow hedges arising during the year (net of income tax (provision) recovery of $(69), $64 and $(173)) | 154 | (153) | 363 | |||
| Reclassification to earnings of (gains) losses on cash flow hedges (net of income tax (provision) recovery of $48, $44 and $(31)) | (106) | (91) | 61 | |||
| Balance at End of Year | 62 | 14 | 258 | |||
Accumulated Other Comprehensive Loss on Translation of Net Foreign Operations |
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| Balance at beginning of year | (893) | (435) | (1,402) | |||
| Unrealized gain (loss) on translation of net foreign operations | (725) | (1,331) | 2,726 | |||
| Impact of hedging unrealized gain (loss) on translation of net foreign operations (net of income tax (provision) recovery of $(206), $(382) and $881) | 483 | 873 | (1,759) | |||
| Balance at End of Year | (1,135) | (893) | (435) | |||
| Total Accumulated Other Comprehensive Loss | (558) | (399) | (251) | |||
Total Shareholders’ Equity |
$ | 21,880 | $ | 20,197 | $ | 17,904 |
