Investment in Associates and Joint Ventures (Tables)

3 Months Ended

Jan. 31, 2020

TD Ameritrade Holding Corporation [member]

Statement [LineItems]

Summary of Condensed Financial Statements

The condensed financial statements of TD Ameritrade, based on its consolidated financial statements, are included in the following tables.

Condensed Consolidated Balance Sheets1
(millions of Canadian dollars)				As at
		December 31 2019		September 30 2019
Assets
Receivables from brokers, dealers, and clearing organizations	$	2,287	$	3,212
Receivables from clients, net		28,039		27,156
Other assets, net		27,217		27,303
Total assets	$	57,543	$	57,671
Liabilities
Payable to brokers, dealers, and clearing organizations	$	3,285	$	4,357
Payable to clients		36,196		35,650
Other liabilities		6,486		6,205
Total liabilities		45,967		46,212
Stockholders' equity2		11,576		11,459
Total liabilities and stockholders' equity	$	57,543	$	57,671

¹ Customers' securities are reported on a settlement date basis whereas the Bank reports customers' securities on a trade date basis.

² The difference between the carrying value of the Bank's investment in TD Ameritrade and the Bank's share of TD Ameritrade's stockholders' equity is comprised of goodwill, other intangibles, and the cumulative translation adjustment.

Condensed Consolidated Statements of Income
(millions of Canadian dollars, except as noted)		For the three months ended
		December 31 2019		December 31 2018
Revenues
Net interest revenue	$	474	$	497
Fee-based and other revenue		1,230		1,506
Total revenues		1,704		2,003
Operating expenses
Employee compensation and benefits		437		419
Other		579		532
Total operating expenses		1,016		951
Other expense (income)		40		24
Pre-tax income		648		1,028
Provision for income taxes		148		230
Net income1	$	500	$	798
Earnings per share – basic (Canadian dollars)	$	0.92	$	1.42
Earnings per share – diluted (Canadian dollars)		0.92		1.41

¹ The Bank's equity share of net income of TD Ameritrade is based on the published consolidated financial statements of TD Ameritrade after converting into Canadian dollars and is subject to adjustments relating to the amortization of certain intangibles.