|
 |
 |
|
 |
|
|
|
|
|
|
|
|
|
|
CONSOLIDATED STATEMENT OF CHANGES
IN SHAREHOLDERS' EQUITY |
|
 |
|
For the year ended
October 31 (C$ millions) |
|
2004 |
|
|
2003 |
|
|
2002 |
|
 |
|
|
|
|
|
|
|
Preferred
shares |
|
|
|
|
|
|
|
|
|
|
|
Balance at beginning of year |
$ |
832 |
|
$ |
1,545 |
|
$ |
2,024 |
|
|
|
Redeemed for cancellation |
|
– |
|
|
(645 |
) |
|
(468 |
) |
|
|
Translation adjustment on shares
denominated in foreign currency |
|
– |
|
|
(68 |
) |
|
(11 |
) |
|
|
|
|
|
|
|
|
|
Balance at
end of year |
|
832 |
|
|
832 |
|
|
1,545 |
|
|
|
|
|
|
|
|
|
Common shares |
|
|
|
|
|
|
|
|
|
|
|
Balance at beginning of year |
|
7,018 |
|
|
6,979 |
|
|
6,940 |
|
|
|
Issued |
|
127 |
|
|
193 |
|
|
191 |
|
|
|
Purchased for cancellation |
|
(157 |
) |
|
(154 |
) |
|
(152 |
) |
|
|
|
|
|
|
|
|
|
Balance at
end of year |
|
6,988 |
|
|
7,018 |
|
|
6,979 |
|
|
|
|
|
|
|
|
|
Additional
paid-in capital |
|
|
|
|
|
|
|
|
|
|
|
Balance at beginning of year |
|
85 |
|
|
78 |
|
|
33 |
|
|
|
Renounced stock appreciation
rights, net of related income taxes |
|
– |
|
|
– |
|
|
31 |
|
|
|
Stock-based compensation awards |
|
56 |
|
|
7 |
|
|
14 |
|
|
|
Reclassified amounts |
|
34 |
|
|
– |
|
|
– |
|
|
|
Other |
|
(6 |
) |
|
– |
|
|
– |
|
|
|
|
|
|
|
|
|
|
Balance at
end of year |
|
169 |
|
|
85 |
|
|
78 |
|
|
|
|
|
|
|
|
|
Retained earnings |
|
|
|
|
|
|
|
|
|
|
|
Balance at beginning of year |
|
11,333 |
|
|
10,235 |
|
|
9,206 |
|
|
|
Net income |
|
2,817 |
|
|
3,005 |
|
|
2,762 |
|
|
|
Preferred share dividends |
|
(45 |
) |
|
(68 |
) |
|
(98 |
) |
|
|
Common share dividends |
|
(1,303 |
) |
|
(1,137 |
) |
|
(1,022 |
) |
|
|
Premium paid on common shares
purchased for cancellation |
|
(735 |
) |
|
(698 |
) |
|
(612 |
) |
|
|
Issuance costs, net of related
income taxes |
|
– |
|
|
(4 |
) |
|
(1 |
) |
|
|
Cumulative effect of adopting
AcG 17, Equity-Linked Deposit Contracts, net
of related income taxes |
|
(2 |
) |
|
– |
|
|
– |
|
|
|
|
|
|
|
|
|
|
Balance at
end of year |
|
12,065 |
|
|
11,333 |
|
|
10,235 |
|
|
|
|
|
|
|
|
|
Treasury stock |
|
|
|
|
|
|
|
|
|
|
|
Reclassified amounts |
|
(304 |
) |
|
– |
|
|
– |
|
|
|
Net sales |
|
10 |
|
|
– |
|
|
– |
|
|
|
|
|
|
|
|
|
|
Balance at
end of year |
|
(294 |
) |
|
– |
|
|
– |
|
|
|
|
|
|
|
|
|
Foreign currency
translation adjustments, net of related income taxes |
|
|
|
|
|
|
|
|
|
Balance at beginning of year |
|
(893 |
) |
|
(54 |
) |
|
(38 |
) |
|
|
Change in unrealized foreign
currency translation gains and losses |
|
(1,341 |
) |
|
(2,988 |
) |
|
(59 |
) |
|
|
Impact of hedging unrealized
foreign currency translation gains and losses |
|
678 |
|
|
2,149 |
|
|
43 |
|
|
|
|
|
|
|
|
|
|
Balance at
end of year |
|
(1,556 |
) |
|
(893 |
) |
|
(54 |
) |
|
|
|
|
|
|
|
|
Shareholders'
equity at end of year |
$ |
18,204 |
|
$ |
18,375 |
|
$ |
18,783 |
|
|
|
|
|
|
|
|
|
|
