Employee Benefits (Tables) |
6 Months Ended |
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Apr. 30, 2024 | |
Employee Benefits [Abstract] | |
Summary of Employee Benefit Plans Expenses | The following table summarizes expenses for defined benefit pension plans, for the and certain of its subsidiaries are not considered Defined Benefit Plan Expenses (millions of Canadian dollars) Principal post-retirement Principal pension plans benefit plan Other pension plans 1 For the three months ended April 30 April 30 April 30 April 30 April 30 April 30 2024 2023 2024 2023 2024 2023 Service cost – benefits earned $ 54 $ 62 $ 1 $ 1 $ 4 $ 4 Net interest cost (income) on net defined (21) (25) 5 5 6 5 Interest cost on asset limitation and minimum requirement 3 5 – – 1 1 Past service cost 2 35 – – – – – Defined benefit administrative expenses 2 3 – – 1 2 Total $ 73 $ 45 $ 6 $ 6 $ 12 $ 12 For the six months ended April 30 April 30 April 30 April 30 April 30 April 30 2024 2023 2024 2023 2024 2023 Service cost – benefits earned $ 108 $ 124 $ 2 $ 2 $ 8 $ 8 Net interest cost (income) on net defined (41) (50) 10 10 12 11 Interest cost on asset limitation and minimum requirement 6 10 – – 2 2 Past service cost 2 35 – – – – – Defined benefit administrative expenses 4 5 – – 2 3 Total $ 112 $ 89 $ 12 $ 12 $ 24 $ 24 Includes Canada Trust defined benefit pension plan, TD Banknorth defined benefit pension plan, and supplemental executive defined benefit pension plans. 2 |
Summary of Expenses for Bank's Defined Contribution Plans | The following table summarizes expenses for Defined Contribution Plan Expenses (millions of Canadian dollars) For the three months ended For the six months ended April 30 April 30 April 30 April 30 2024 2023 2024 2023 Defined contribution pension plans 1 $ 73 $ 62 $ 158 $ 126 Government pension plans 2 132 121 329 294 Total $ 205 $ 183 $ 487 $ 420 Includes defined contribution portion of the TD Pension Plan (Canada) and TD Bank, N.A. defined contribution 401(k) 2 Federal Insurance Contributions Act . |
Summary of Remeasurement of Defined Benefit Plans | The following table summarizes the remeasurements the Bank’s other material defined benefit pension Amounts Recognized in Other Comprehensive 1,2,3 (millions of Canadian dollars) Principal post-retirement Principal pension plans benefit plan Other pension plans For the three months ended April 30 April 30 April 30 April 30 April 30 April 30 2024 2023 2024 2023 2024 2023 Remeasurement gain/(loss) – financial $ 439 $ (147) $ 13 $ (3) $ 18 $ – Remeasurement gain/(loss) – return on plan interest income (524) 38 – – – – Change in asset limitation and minimum 24 63 – – – – Total $ (61) $ (46) $ 13 $ (3) $ 18 $ – For the six months ended April 30 April 30 April 30 April 30 April 30 April 30 2024 2023 2024 2023 2024 2023 Remeasurement gain/(loss) – financial $ (685) $ (529) $ (23) $ (27) $ (25) $ – Remeasurement gain/(loss) – return on plan interest income 276 424 – – – – Change in asset limitation and minimum 200 179 – – – – Total $ (209) $ 74 $ (23) $ (27) $ (25) $ – 1 plan, and other employee defined benefit plans operated by the Bank and certain of its subsidiaries not considered a quarterly basis. 2 3 |