For the years ended December 31
($Cdn thousands) |
2007 |
2006 |
| |
| Share capital |
|
|
|
|
| Balance at beginning of year |
$ |
812,769 |
$ |
779,420 |
| Shares repurchased [note 11] |
|
(22,750) |
|
– |
| Stock option plan |
|
29,249 |
|
33,285 |
| Debenture conversions |
|
– |
|
64 |
| Balance at end of year |
|
819,268 |
|
812,769 |
| |
| Contributed surplus |
|
|
|
|
| Balance at beginning of year |
|
540,173 |
|
529,245 |
| Shares repurchased [note 11] |
|
(406,577) |
|
– |
| Stock option plan amendment [note 21] |
|
(21,875) |
|
– |
| Stock-based compensation |
|
13,770 |
|
17,549 |
| Options exercised |
|
(5,960) |
|
(6,612) |
| Debenture conversions |
|
– |
|
(9) |
| Balance at end of year |
|
119,531 |
|
540,173 |
| |
| Retained earnings |
|
|
|
|
| Balance at beginning of year |
|
1,428,206 |
|
1,108,748 |
| Transition adjustment - financial instruments [note 3(a)] |
|
5,343 |
|
– |
| Net earnings |
|
416,112 |
|
375,715 |
| Dividends on common shares |
|
(70,032) |
|
(56,257) |
| Balance at end of year |
|
1,779,629 |
|
1,428,206 |
| |
| Accumulated other comprehensive income (loss) |
|
|
|
|
| Balance at beginning of year |
|
(39,766) |
|
(53,397) |
| Transition adjustment - financial instruments [note 3(a)] |
|
38,839 |
|
– |
| Other comprehensive income |
|
26,360 |
|
13,631 |
| Balance at end of year [note 12] |
|
25,433 |
|
(39,766) |
| Total retained earnings and accumulated other comprehensive income |
|
1,805,062 |
|
1,388,440 |
| Shareholders' equity at end of year |
$ |
2,743,861 |
$ |
2,741,382 |
|
