Annual Report 2014
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It was a year of great performance set against a challenging economic backdrop. We overcame continued pressures on our operating environment and delivered adjusted earnings of $8.1 billion with record results in many of our businesses.
![photo of Colleen Johnston](/images/ar2013/ar2013-home-Johnston.jpg)
In Canada, our retail business performed very well. Our Wholesale segment grew significantly, and our U.S. Retail bank delivered good results in a challenging environment.
NET INCOME
available to common shareholders
(millions of Canadian dollars)
Adjusted
Reported
![](/images/ar2014/ar2014-net-income.gif)
11.6% TD’s 5-year CAGR (adjusted)