CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME For the Years Ended October 31 ($ thousands)
2023
2022
Net Income
$
350,649
$
336,896
Other Comprehensive Income (Loss), net of tax Items that will be subsequently reclassified to net income Debt securities measured at fair value through other comprehensive income Gains (losses) from change in fair value (1)
65,694
(89,817)
Reclassification to net income, of (gains) losses in the year ( 2)
(209)
8
65,485
(89,809)
Derivatives designated as cash flow hedges
(Note 10)
Losses from change in fair value (3)
(55,058)
(38,852)
Reclassification to net income, of (gains) losses in the year (4)
32,303
(16,508)
(22,755)
(55,360)
Items that will not be subsequently reclassified to net income Unrealized losses on equity securities designated at fair value through other comprehensive income (5)
(986)
(167)
41,744
(145,336)
Comprehensive Income
$
392,393
$
191,560
Net of income tax of $21,458 (2022 – $27,855).
(1) (2) (3) (4) (5)
Net of income tax of $116 (2022 – $6).
Net of income tax of $18,412 (2022 – $11,969). Net of income tax of $10,510 (2022 – $5,045). Net of income tax of $365 (2022 – $39).
The accompanying notes are an integral part of the consolidated financial statements.
66 | CWB Financial Group 2023 Annual Report
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