NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Table of Contents

For the years ended December 31, 2007 and 2006

($Cdn thousands except per share amounts and as noted)

28. Per Share Amounts

Per share amounts have been calculated based on the weighted average number of common shares outstanding during the year net of shares held as security for employee loans to purchase such shares. The weighted average number of paid shares outstanding in 2007 was 351,175,226 (2006 – 351,223,724).

  2007 2006
Basic earnings per share computation    
Net earnings $ 416,112 $ 375,715
Weighted average common shares outstanding 351,175 351,224
Basic earnings per common share $ 1.18 $ 1.07
     
Diluted earnings per share computation    
Net earnings $ 416,112 $ 375,715
Dilutive effect of:
Convertible debentures
   9,624   8,992
Net earnings, assuming dilution $ 425,736 $ 384,707
Weighted average common shares outstanding 351,175 351,224
Dilutive effect of:    
Convertible debentures
 21,209 21,209
Stock options
 4,487 4,402
Weighted average common shares outstanding, assuming dilution 376,871 376,835
Diluted earnings per common share $ 1.13 $ 1.02