v3.22.4
Consolidated statement of cash flows - CAD ($)
$ in Millions
 3 Months Ended
Jan. 31, 2023
Oct. 31, 2022
Jan. 31, 2022
Cash flows provided by (used in) operating activities      
Net income $ 432 $ 1,185 $ 1,869
Adjustments to reconcile net income to cash flows provided by (used in) operating activities:      
Provision for credit losses 295 436 75
Amortization and impairment [1] 277 278 253
Stock options and restricted shares expense 2 9 9
Deferred income taxes (270) (118) 94
Losses (gains) from debt securities measured at FVOCI and amortized cost (10) 6 (19)
Net losses (gains) on disposal of property and equipment 0 3 1
Other non-cash items, net 60 (786) (107)
Net changes in operating assets and liabilities      
Interest-bearing deposits with banks 3,733 (12,942) 2,333
Loans, net of repayments (2,207) (13,188) (21,119)
Deposits, net of withdrawals (8,240) 20,188 27,462
Obligations related to securities sold short 2,355 (4,895) 482
Accrued interest receivable (288) (532) 141
Accrued interest payable 736 839 (43)
Derivative assets 12,616 (6,740) 2,854
Derivative liabilities (12,864) 12,991 (2,801)
Securities measured at FVTPL (2,411) 3,718 (8,388)
Other assets and liabilities measured/designated at FVTPL 3,892 2,173 1,526
Current income taxes 604 171 (855)
Cash collateral on securities lent (757) 1,554 (177)
Obligations related to securities sold under repurchase agreements (5,914) 13,233 (3,525)
Cash collateral on securities borrowed 2,880 (49) (1,728)
Securities purchased under resale agreements 4,031 (9,078) 730
Other, net 1,189 409 (40)
Cash flows provided by (used in) operating activities 141 8,865 (973)
Cash flows provided by (used in) financing activities      
Issue of subordinated indebtedness 1,000 0 0
Redemption/repurchase/maturity of subordinated indebtedness 0 (2) 0
Issue of limited recourse capital notes, net of issuance cost 0 597 0
Issue of common shares for cash 48 40 93
Purchase of common shares for cancellation 0 0 (134)
Dividends and distributions paid (571) (750) (731)
Repayment of lease liabilities (82) (86) (76)
Cash flows provided by (used in) financing activities 395 (201) (848)
Cash flows provided by (used in) investing activities      
Purchase of securities measured/designated at FVOCI and amortized cost (22,089) (16,689) (23,727)
Proceeds from sale of securities measured/designated at FVOCI and amortized cost 4,493 6,298 7,538
Proceeds from maturity of debt securities measured at FVOCI and amortized cost 8,687 7,555 6,825
Acquisition of Canadian Costco credit card portfolio 0 (7) 0
Net sale (purchase) of property, equipment and software (246) (392) (201)
Cash flows provided by (used in) investing activities (9,155) (3,235) (9,565)
Effect of exchange rate changes on cash and non-interest-bearing deposits with banks (40) 156 72
Net increase (decrease) in cash and non-interest-bearing deposits with banks during the period (8,659) 5,585 (11,314)
Cash and non-interest-bearing deposits with banks at beginning of period 31,535 [2] 25,950 34,573
Cash and non-interest-bearing deposits with banks at end of period [2] 22,876 31,535 23,259
Cash interest paid 6,320 4,168 852
Cash interest received 9,722 7,368 3,796
Cash dividends received 251 292 286
Cash income taxes paid $ 404 $ 231 $ 1,292
[1] Comprises amortization and impairment of buildings, right-of-use assets, furniture, equipment, leasehold improvements, software and other intangible assets, and goodwill.
[2] Includes restricted cash of $485 million (October 31, 2022: $493 million; January 31, 2022: $462 million) and interest-bearing demand deposits with Bank of Canada.