Consolidated Financial Statements

Consolidated Statement of Changes in Equity

For the Year Ended October 31 (Canadian $ in millions) 2017   2016   2015

(1) Net of income tax (provision) recovery of $(21) million, $(64) million and $63 million for the year ended, respectively.

(2) Net of income tax provision of $36 million, $11 million and $24 million for the year ended, respectively.

(3) Net of income tax (provision) recovery of $322 million, $(4) million and $(188) million for the year ended, respectively.

(4) Net of income tax provision (recovery) of $(21) million, $(6) million and $14 million for the year ended, respectively.

(5) Net of income tax (provision) recovery of $(8) million, $(10) million and $167 million for the year ended, respectively.

(6) Net of income tax (provision) recovery of $(157) million, $156 million and $(51) million for the year ended, respectively.

(7) Net of income tax (provision) recovery of $53 million, $55 million and $(43) million for the year ended, respectively.

The accompanying notes are an integral part of these consolidated financial statements.

Preferred Shares (Note 16 PDF)

         
Balance at beginning of year $ 3,840 $ 3,240 $ 3,040
Issued during the year   900   600   950
Redeemed during the year   (500)     (750)
Balance at End of Year   4,240   3,840   3,240

Common Shares (Note 16 PDF)

           
Balance at beginning of year   12,539   12,313   12,357
Issued under the Shareholder Dividend Reinvestment and Share Purchase Plan (Note 16 PDF)   448   90   58
Issued under the Stock Option Plan (Note 16 PDF)   146   136   51
Repurchased for cancellation (Note 16 PDF)   (101)     (153)
Balance at End of Year   13,032   12,539   12,313

Contributed Surplus

           
Balance at beginning of year   294   299   304
Stock option expense/exercised (Note 21 PDF)   6   (14)  
Other   7   9   (5)
Balance at End of Year   307   294   299

Retained Earnings

           
Balance at beginning of year   21,205   18,930   17,237
Net income attributable to bank shareholders   5,348   4,622   4,370
Dividends            
– Preferred shares (Note 16 PDF)   (184)   (150)   (117)
– Common shares (Note 16 PDF)   (2,312)   (2,191)   (2,087)
Preferred shares redeemed during the year (Note 16 PDF)       (3)
Common shares repurchased for cancellation (Note 16 PDF)   (339)     (465)
Share issue expense   (9)   (6)   (5)
Balance at End of Year   23,709   21,205   18,930

Accumulated Other Comprehensive Income (Loss) on Available-for-Sale Securities, net of taxes

           
Balance at beginning of year   48   (75)   156
Unrealized gains (losses) on available-for-sale securities arising during the year (1)   95   151   (166)
Reclassification to earnings of (gains) in the year (2)   (87)   (28)   (65)
Balance at End of Year   56   48   (75)

Accumulated Other Comprehensive Income (Loss) on Cash Flow Hedges, net of taxes

           
Balance at beginning of year   596   612   141
Gains (losses) on cash flow hedges arising during the year (3)   (839)   (26)   528
Reclassification to earnings of (gains) losses in the year (4)   61   10   (57)
Balance at End of Year   (182)   596   612

Accumulated Other Comprehensive Income on Translation of Net Foreign Operations, net of taxes

           
Balance at beginning of year   4,327   4,073   1,368
Unrealized gains (losses) on translation of net foreign operations   (885)   213   3,187
Unrealized gains (losses) on hedges of net foreign operations (5)   23   41   (482)
Balance at End of Year   3,465   4,327   4,073

Accumulated Other Comprehensive Income (Loss) on Pension and Other Employee Future Benefit Plans, net of taxes

           
Balance at beginning of year   (512)   (90)   (290)
Gains (losses) on remeasurement of pension and other employee future benefit plans (6)   420   (422)   200
Balance at End of Year   (92)   (512)   (90)

Accumulated Other Comprehensive Income (Loss) on Own Credit Risk on Financial Liabilities Designated at Fair Value, net of taxes

           
Balance at beginning of year   (33)   120  
Gains (losses) on remeasurement of own credit risk on financial liabilities designated at fair value (Note 1 PDF) (7)   (148)   (153)   120
Balance at End of Year   (181)   (33)   120

Total Accumulated Other Comprehensive Income

  3,066   4,426   4,640

Total Shareholders’ Equity

$ 44,354 $ 42,304 $ 39,422

Non-controlling Interest in Subsidiaries

           
Balance at beginning of year   24   491   1,091
Net income attributable to non-controlling interest   2   9   35
Dividends to non-controlling interest     (10)   (37)
Redemption/purchase of non-controlling interest (Note 16 PDF)   (25)   (450)   (600)
Other   (1)   (16)   2
Balance at End of Year     24   491

Total Equity

$ 44,354 $ 42,328 $ 39,913