Cameco Annual Report 2011

Consolidated Statements of Earnings

For the years ended December 31
($Cdn thousands, except per share amounts)
Note 2011 2010
See accompanying notes to consolidated financial statements.
Revenue from products and services $2,384,404  $2,123,655 
       
Cost of products and services sold 1,333,449  1,113,963 
Depreciation and amortization 274,835  238,308 
Cost of sales 1,608,284  1,352,271 
Gross profit 776,120  771,384 
       
Administration 157,476  154,698 
Exploration 95,924  95,796 
Research and development 4,514  4,794 
Cigar Lake remediation 4,363  16,633 
Loss on disposal of assets 7,602  107 
Earnings from operations 506,241  499,356 
Finance costs 22 (73,668) (86,179)
Gains (losses) on derivatives 29 (4,417) 75,183 
Finance income 24,547  20,894 
Share of loss from equity-accounted investees 13 (7,233) (4,176)
Other income 23 4,920  4,388 
Earnings before income taxes 450,390  509,466 
Income tax expense 24 11,755  3,427 
Net earnings $438,635  $506,039 
       
Net earnings (loss) attributable to:
Equity holders $450,404  $516,391 
Non-controlling interest (11,769) (10,352)
Net earnings $438,635  $506,039 
       
Earnings per common share attributable to equity holders
Basic 25 $1.14  $1.31 
Diluted 25 $1.14  $1.31