v3.24.3
Premises and equipment
 12 Months Ended
Oct. 31, 2024
Text Block [Abstract]  
Premises and equipment
Note 10 Premises and equipment
 
  
 
For the year ended October 31, 2024
 
 
 
Owned by the Bank
(1)
 
 
 
 
 
Right-of-use lease assets
 
 
 
 
(Millions of Canadian dollars)
 
Land
 
 
Buildings
 
 
Computer
equipment
 
 
Furniture,
fixtures
and other
equipment
 
 
Leasehold
improvements
 
 
Work in
process
 
 
  
 
 
Buildings
 
 
Equipment
 
 
Total
(2)
 
Cost
 
 
 
 
 
 
 
 
 
 
Balance at beginning of period
  
$
140
 
  
$
1,251
 
  
$
1,283
 
  
$
835
 
  
$
3,007
 
  
$
108
 
    
$
5,893
 
  
$
317
 
  
$
12,834
 
Additions
  
 
103
 
  
 
77
 
  
 
21
 
  
 
11
 
  
 
50
 
  
 
522
 
    
 
526
 
  
 
2
 
  
 
1,312
 
Acquisition through business combination
  
 
–
 
  
 
–
 
  
 
–
 
  
 
13
 
  
 
59
 
  
 
–
 
    
 
226
 
  
 
–
 
  
 
298
 
Transfers from work in process
  
 
–
 
  
 
5
 
  
 
240
 
  
 
132
 
  
 
102
 
  
 
(479
)
    
 
–
 
  
 
–
 
  
 
–
 
Disposals
  
 
–
 
  
 
(6
)
  
 
(140
)
  
 
(82
)
  
 
(29
)
  
 
–
 
    
 
(
165
)
  
 
–
 
  
 
(422
)
Foreign exchange translation
  
 
1
 
  
 
2
 
  
 
10
 
  
 
3
 
  
 
19
 
  
 
–
 
    
 
61
 
  
 
–
 
  
 
96
 
Other
  
 
–
 
  
 
(4
)
  
 
(3
)
 
  
 
(12
)
 
  
 
(39
)
 
  
 
(22
)
 
  
 
 
 
  
 
(
109
)
  
 
–
 
  
 
(189
)
Balance at end of period
  
$
 244
 
  
$
 1,325
 
  
$
 1,411
 
  
$
 900
 
  
$
 3,169
 
  
$
 129
 
  
 
 
 
  
$
 6,432
 
  
$
 319
 
  
$
 13,929
 
Accumulated depreciation
                    
Balance at beginning of period
  
$
–
 
  
$
646
 
  
$
723
 
  
$
550
 
  
$
1,863
 
  
$
–
 
    
$
2,149
 
  
$
154
 
  
$
6,085
 
Depreciation
  
 
–
 
  
 
59
 
  
 
249
 
  
 
73
 
  
 
279
 
  
 
–
 
    
 
620
 
  
 
84
 
  
 
1,364
 
Disposals
  
 
–
 
  
 
(6
)
  
 
(140
)
  
 
(82
)
  
 
(25
)
  
 
–
 
    
 
(54
)
 
  
 
–
 
  
 
(307
)
Foreign exchange translation
  
 
–
 
  
 
1
 
  
 
8
 
  
 
2
 
  
 
7
 
  
 
–
 
    
 
21
 
  
 
–
 
  
 
39
 
Other
  
 
–
 
  
 
(6
)
 
  
 
(6
)
  
 
11
 
  
 
(52
)
  
 
–
 
  
 
 
 
  
 
(51
)
 
  
 
–
 
  
 
(104
)
Balance at end of period
  
$
–
 
  
$
694
 
  
$
834
 
  
$
554
 
  
$
2,072
 
  
$
–
 
  
 
 
 
  
$
2,685
 
  
$
238
 
  
$
7,077
 
Net carrying amount at end of period
  
$
244
 
  
$
631
 
  
$
577
 
  
$
346
 
  
$
1,097
 
  
$
129
 
  
 
 
 
  
$
3,747
 
  
$
81
 
  
$
6,852
 
 
   
    For the year ended October 31, 2023  
    Owned by the Bank
(1)
          
Right-of-use lease assets
        
(Millions of Canadian dollars)
   Land     Buildings     Computer
equipment		     Furniture,
fixtures
and other
equipment		     Leasehold
improvements		     Work in
process		            Buildings     Equipment     Total  
Cost
                    
Balance at beginning of period
   $ 141     $ 1,261     $ 1,169     $ 836     $ 2,845     $ 120       $ 5,748     $ 299     $ 12,419  
Additions
     –       –       32       12       29       511         385       80       1,049  
Acquisition through business combination
     –       –       –       –       –       –         –       –       –  
Transfers from work in process
     –       19       246       62       187       (514 )        –       –       –  
Disposals
     –       (53 )      (216 )      (96 )      (78 )      (2 )        (331 )      (31 )      (807 ) 
Foreign exchange translation
     1       6       22       9       32       1         103       –       174  
Other
     (2 )      18       30       12       (8 )      (8 )   
 
 
 
     (12 )      (31 )      (1 ) 
Balance at end of period
   $  140     $  1,251     $  1,283     $  835     $  3,007     $  108    
 
 
 
   $  5,893     $  317     $  12,834  
Accumulated depreciation
                    
Balance at beginning of period
   $ –     $ 627     $ 640     $ 525     $ 1,656     $ –       $ 1,643     $ 114     $ 5,205  
Depreciation
     –       51       247       91       235       –         559       92       1,275  
Disposals
     –       (50 )      (216 )      (88 )      (70 )      –         (112 )      (31 )      (567 ) 
Foreign exchange translation
     –       3       16       6       16       –         31       –       72  
Other
     –       15       36       16       26       –    
 
 
 
     28       (21 )      100  
Balance at end of period
   $ –     $ 646     $ 723     $ 550     $ 1,863     $ –    
 
 
 
   $ 2,149     $ 154     $ 6,085  
Net carrying amount at end of period
   $ 140     $ 605     $ 560     $ 285     $ 1,144     $ 108    
 
 
 
   $ 3,744     $ 163     $ 6,749  
 
(1)
As at October 31, 2024, we had total contractual commitments of $137 million to purchase premises and equipment (October 31, 2023 – $120 million).
(2)
Includes investment properties
with a cost
 
of $186 million (October 31, 2023 – $nil) which are subject to operating leases and carried at cost less accumulated amortization. The fair value, determined by a combination of internal investment professionals and external independent property appraisers with the relevant professional qualifications and experience, is $188
million (October 31, 2023 – $nil). 
Lease payments
Total lease payments for the year ended October 31, 2024 were $1,440
 
million
,
of which $
708
million or
49% relates to variable payments and $732
million or
 51% relates to fixed payments. Total lease payments for the year ended October 31, 2023 were $1,326 million
,
of which $655 million or 49% relates to variable payments and $671 million or 51% relates to fixed payments.
Total variable lease payments not included in the measurement of lease liabilities were $697
million for the year ended October 31, 2024 (Oct
ob
er 31, 2023 – $
647 million).