For the years ended December 31, 2007 and 2006
($Cdn thousands except per share amounts and as noted)
Cameco holds a 31.6% interest in the BPLP partnership, which is governed by an agreement that provides for joint control of the strategic operating, investing and financing activities among the three major partners. Cameco proportionately consolidates its 31.6% interest in BPLP.
Cameco has entered into fuel supply agreements with BPLP for the procurement of fabricated fuel. Under these agreements, Cameco will supply uranium and conversion services and finance the purchase of fabrication services. Contract terms are at market rates and on normal trade terms. During 2007, sales of uranium and conversion services to BPLP amounted to $49,608,000 (2006 – $41,650,000), approximately 2.1% (2006 – 2.3%) of Cameco's total revenue. At December 31, 2007, amounts receivable under these agreements totaled $4,550,000 (2006 – $15,055,000).
| (Millions) | 2007 | 2006 | ||
| Current assets | $ | 159 | $ | 129 |
| Property, plant and equipment | 411 | 417 | ||
| Long-term receivables and investments | 181 | 131 | ||
| $ | 751 | $ | 677 | |
| Current liabilities | $ | 97 | $ | 100 |
| Long-term liabilities | 370 | 358 | ||
| 467 | 458 | |||
| Equity | 284 | 219 | ||
| $ | 751 | $ | 677 |
| (Millions) | 2007 | 2006 | ||
| Revenue | $ | 417 | $ | 393 |
| Operating costs | 278 | 256 | ||
| Earnings before interest and taxes | 139 | 137 | ||
| Interest | – | 14 | ||
| Earnings before taxes | $ | 139 | $ | 123 |
| (Millions) | 2007 | 2006 | ||
| Cash provided by operations | $ | 159 | $ | 163 |
| Cash used in investing | (35) | (38) | ||
| Cash used in financing | (126) | (143) |