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Key financial metrics1

(millions of Canadian dollars, except where noted) 2014    2013    2012   
Results of operations
Total revenues – reported $ 29,961    $ 27,259    $ 25,546   
Total revenues – adjusted 29,681    27,188    25,677   
Net income – reported 7,883    6,640    6,460   
Net income – adjusted 8,127    7,136    7,064   
Financial positions at year-end (billions of Canadian dollars)
Total assets 944.7    862.0    811.1   
Total deposits 600.7    541.6    487.8   
Total loans net of allowance for loan losses 478.9    444.9    408.8   
Per common share (Canadian dollars, except where noted)
Diluted earnings – reported 4.14    3.44    3.38   
Diluted earnings – adjusted 4.27    3.71    3.71   
Dividend payout ratio – adjusted 43.0% 43.5% 38.7%
Total shareholder return (1 year)2 20.1% 22.3% 11.9%
Closing market price (fiscal year end)3 55.47    47.82    40.62   
Financial ratios
Common Equity Tier 1 Capital ratio4,5,6 9.4% 9.0% n.a.%
Tier 1 Capital ratio4,5,6 10.9    11.0    12.6   
Total Capital ratio4,5,6 13.4    14.2    15.7   
Efficiency ratio – reported 55.1    55.3    54.9   
Efficiency ratio – adjusted 53.4    52.9    51.3   

1 Effective November 1, 2011, The Toronto-Dominion Bank (the “Bank” or “TD”) prepares its Consolidated Financial Statements in accordance with International Financial Reporting Standards (IFRS), the current Generally Accepted Accounting Principles (GAAP), and refers to results prepared in accordance with IFRS as the ”reported” results. The Bank also utilizes non-GAAP financial measures to arrive at “adjusted” results to assess each of its businesses and to measure overall Bank performance. To arrive at adjusted results, the Bank removes “items of note”, net of income taxes, from reported results. See “How the Bank Reports” in the accompanying 2014 Management’s Discussion and Analysis (MD&A) for further explanation, a list of the items of note, and a reconciliation of non-GAAP financial measures.
 Certain comparative amounts have been restated as a result of the adoption of new and amended standards under IFRS (New IFRS Standards and Amend­ments) which required retrospective application and to retrospectively reflect the impact of the January 31, 2014 stock dividend, as further discussed in Note 4 and Note 21 of the 2014 Consolidated Financial Statements, respectively, and due to reclassifications to conform with the presentation adopted in the current period. In addition, the Bank’s comparative segment results have been restated to reflect the segment realignment which occurred on November 1, 2013, which is further discussed in Note 31 of the 2014 Consolidated Financial Statements.

2 Total Shareholder Return based on Bloomberg for the one year period ended October 31 of the stated year.

3 Toronto Stock Exchange closing market price.

4 Prior to 2014, amounts have not been adjusted to reflect the impact of the New IFRS Standards and Amendments.

5 Effective the third quarter of 2014, each capital ratio has its own risk-weighted asset (RWA) measure due to the OSFI prescribed scalar for inclusion of the Credit Valuation Adjustment (CVA). Effective the third quarter of 2014, the scalars for inclusion of CVA for Common Equity Tier 1, Tier 1, and Total Capital RWA are 57%, 65%, and 77% respectively.

6 Effective 2013, amounts are calculated in accordance with the Basel III regulatory framework, and are presented based on the “all-in” methodology. Prior to 2013, amounts were calculated in accordance with the Basel II regulatory framework.