Notes

1. Cameco Corporation
2. Significant Accounting Policies
3. Explanation of Transition to IFRS
4. Accounting Standards
5. Determination of Fair Values
6. Use of Estimates and Judgments
7. Short-Term Investments
8. Accounts Receivable
9. Inventories
10. Property, Plant and Equipment
11. Intangible Assets
12. Long-Term Receivables, Investments and Other
13. Equity-Accounted Investees
14. Accounts Payable and Accrued Liabilities
15. Short-Term Debt
16. Long-Term Debt
17. Finance Lease Obligation
18. Other Liabilities

19. Provisions
20. Share Capital
21. Employee Benefit Expense
22. Finance Costs
23. Other Income
24. Income Taxes
25. Per Share Amounts
26. Statements of Cash Flows
27. Share-Based Compensation Plans
28. Pension and Other Post-Retirement Benefits
29. Financial Instruments and Related Risk Management
30. Capital Management
31. Commitments and Contingencies
32. Segmented Information
33. Group Entities
34. Jointly Controlled Assets
35. Jointly Controlled Entities
36. Acquisition of Controlling Interest in UFP Investments LLC (“UFP”)
37. Related Parties

25. Per Share Amounts

Per share amounts have been calculated based on the weighted average number of common shares outstanding during the period. The weighted average number of paid shares outstanding in 2011 was 394,661,591 (2010 – 393,168,523).

	2011	2010
Basic earnings per share computation
Net earnings attributable to equity holders	$450,404	$516,391
Weighted average common shares outstanding	394,662	393,169
Basic earnings per common share	$1.14	$1.31
Diluted earnings per share computation
Net earnings attributable to equity holders	$450,404	$516,391
Weighted average common shares outstanding	394,662	393,169
Dilutive effect of stock options	817	1,850
Weighted average common shares outstanding, assuming dilution	395,479	395,019
Diluted earnings per common share	$1.14	$1.31