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Consolidated Statement of Cash Flows
<br />Sources (uses) of cash flows
<br />For the year ended October 31 (f millions)
<br />
<br />2008
<br />
<br />2007
<br />
<br />2006
<br />•
<br />Cash flows from operating activities
<br />Net income S 3,140 $ 4,045 $ 3,579
<br />Adjustments to determine net cash flows from (used in) operating activities:
<br />Depreciation and amortization 291 267 230
<br />Provision for credit losses 630 270 216
<br />Future income taxes (367) (106) (178)
<br />Net gain (loss) on securities, other than trading"' 374 (488) (371)
<br />Net accrued interest receivable and payable 60 18 221
<br />Trading securities 13,721 334 (13,042)
<br />Derivative assets (15,292) (13,616) 222
<br />Derivative liabilities 11,202 14,548 446
<br />Other, net 6,353 (3,261) 2,713
<br /> 20,112 2,011 (5,964)
<br />Cash flows from financing activities
<br />Deposits
<br />Obligations related to securities sold under repurchase agreements
<br />Obligations related to securities sold short
<br />Subordinated debentures issued
<br />Subordinated debentures redemptions/repayments
<br />Capital instrument liabilities redemptions/repayments
<br />Preferred shares issued
<br />Common shares issued
<br />Common shares redeemed/purchased for cancellation
<br />Cash dividends paid
<br />Other, net
<br />Cash flows from investing activities
<br />Interest-bearing deposits with banks
<br />• Securities purchased under resale agreements
<br />Loans, excluding securitizations
<br />Loan securitizations
<br />Securities, other than trading"~
<br />Purchases
<br />Maturities
<br />Sales
<br />Land, buildings and equipment, net of disposals
<br />Other, nets'
<br />Effect of exchange rate changes on cash and cash equivalents
<br />Net change in wsh and wsh equivalents
<br />Cash and cash equivalents at beginning of year
<br />Cash and wsh equivalents at end of yearp1
<br />Cash disbursements made for:
<br />Interest
<br />Income taxes
<br />Certain comparative amounts have been reclassified to conform with current period presentation.
<br />28,106 41,746 44,014
<br />6,913 (3,858) 8,245
<br />(5,020) 3,848 2,190
<br />3,144 - -
<br />(691) (500) (300)
<br />- (250) -
<br />1,225 1,035 -
<br />234 112 118
<br />(40) (629) (350)
<br />(2,003) (1,771) (1,513)
<br />(101) 3,391 684
<br />31,767 43,124 53,088
<br />(5,052) (7,087) (1,664)
<br />3,793 1,897 (5,633)
<br />(47,483) (42,028) (31,978)
<br />5,121 3,756 2,514
<br />(41,444) (32,133) (41,326)
<br />16,842 14,015 18,011
<br />19,346 17,267 15,146
<br />(464) (317) (256)
<br />(2,399) (390) (2,099)
<br />(51,740) (45,020) (47,285)
<br />297 (257) (60)
<br />436 (142) (221)
<br />2,138 2,280 2,501
<br />S 2,574 $ 2,138 $ 2,280
<br />= 14,544 $ 13,625 $ 10,559
<br />S 1,212 $ 905 $ 1,012
<br />(1) Prior to November 1, 2006, this related to securities classified as investment securities. Refer to Note 1 for further details.
<br />(2) Comprises investments in subsidiaries and business units, and the purchase of assets related to these investments, which are net of nontash consideration consisting of
<br />common shares issued from treasury of nil (2007 - f36; 2006 - f 1) and net of cash and cash equivalents at the date of acquisition of $37 (2007 - $6; 2006 - f 167).
<br />(3) Represents cash and non-interest-bearing deposits with banks.
<br />The accompanying notes are an integral part of these consolidated financial statements.
<br />•
<br />2008 Scotiabank Annual Report
<br />109
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