Consolidated financial statements Consolidated balance sheet Millions of Canadian dollars, as at October 31 ASSETS Cash and non-interest-bearing deposits with banks Interest-bearing deposits with banks Securities (Note 4) Cash collateral on securities borrowed Securities purchased under resale agreements Loans (Note 5) Residential mortgages Personal Credit card Business and government. Allowance for credit losses 2022 $ 31,535 Other Derivative instruments (Note 12) Customers' liability under acceptances Property and equipment (Note 7) Goodwill (Note 8) Software and other intangible assets (Note 8) Investments in equity-accounted associates and joint ventures (Note 25) Deferred tax assets (Note 19) Other assets (Note 9) 2021 $ 34,573 32,326 22,424 175,879 161,401 15,326 12,368 69,213 67,572 269,706 251,526 45,429 41,897 16,479 11,134 188,542 150,213 (3,073) (2,849) 517,083 451,921 43,035 35,912 11,574 10,958 3,377 3,286 5,348 4,954 2,592 2,029 632 658 480 402 35,197 29,225 102,235 87,424 $ 943,597 $ 837,683 LIABILITIES AND EQUITY Deposits (Note 10) Personal Business and government $ 232,095 $ 213,932 397,188 344,388 Bank 22,523 20,246 Secured borrowings 45,766 42,592 697,572 621,158 Obligations related to securities sold short 15,284 22,790 Cash collateral on securities lent 4,853 2,463 Obligations related to securities sold under repurchase agreements 77,171 71,880 Other Derivative instruments (Note 12) 52,340 32,101 Acceptances 11,586 10,961 Deferred tax liabilities (Note 19) 45 38 Other liabilities (Note 11) 28,072 24,923 92,043 68,023 Subordinated indebtedness (Note 14) 6,292 5,539 Equity Preferred shares and other equity instruments (Note 15) 4,923 4,325 Common shares (Note 15) 14,726 14,351 Contributed surplus 115 110 Retained earnings 28,823 25,793 Accumulated other comprehensive income (AOCI) Total shareholders' equity Non-controlling interests Total equity 1,594 1,069 50,181 201 50,382 45,648 182 45,830 $ 943,597 $ 837,683 The accompanying notes and shaded sections in "MD&A - Management of risk" are an integral part of these consolidated financial statements. Consolidated financial statements Consolidated statement of income Millions of Canadian dollars, except as noted, for the year ended October 31 Interest income (Note 29) (1) Loans Securities Securities borrowed or purchased under resale agreements Deposits with banks Interest expense (Note 29) Deposits Securities sold short Securities lent or sold under repurchase agreements Subordinated indebtedness Other 2022 2021 $ 16,874 $ 12,150 3,422 2,141 1,175 319 708 131 22,179 14,741 7,887 2,651 380 236 943 208 203 122 125 65 9,538 3,282 Net interest income Non-interest income Underwriting and advisory fees Deposit and payment fees 12,641 11,459 557 713 880 797 Credit fees 1,286 1,152 Card fees 437 460 Investment management and custodial fees 1,760 1,621 Mutual fund fees 1,776 1,772 Insurance fees, net of claims 351 358 Commissions on securities transactions 378 426 Gains (losses) from financial instruments measured/designated at fair value through profit or loss (FVTPL), net 1,172 607 Gains (losses) from debt securities measured at fair value through other comprehensive income (FVOCI) and amortized cost, net Foreign exchange other than trading (FXOTT) 35 90 242 276 Income from equity-accounted associates and joint ventures (Note 25) 47 55 Other 271 229 9,192 8,556 Total revenue Provision for credit losses (Note 5) Non-interest expenses Employee compensation and benefits Occupancy costs Computer, software and office equipment Communications Advertising and business development Professional fees Business and capital taxes Other (Notes 3 and 8) 21,833 20,015 1,057 158 7,157 6,450 853 916 2,297 2,030 352 318 334 237 313 277 123 111 1,374 1,196 12,803 11,535 Income before income taxes Income taxes (Note 19) Net income Net income attributable to non-controlling interests 7,973 8,322 1,730 1,876 $ 6,243 $ 6,446 $ 23 $ 17 Preferred shareholders and other equity instrument holders Common shareholders Net income attributable to equity shareholders $ 171 $ 158 6,049 6,271 $ 6,220 $ 6,429 Earnings per share (EPS) (in dollars) (Note 20) (2) Basic Diluted $ 6.70 $ 6.98 6.68 6.96 Dividends per common share (in dollars) (Note 15) (2) 3.270 2.920