Cameco Corporation - Investor Relations - Annual Report

Financial Strength|Consolidated Balance Sheets

Uranium production from McArthur River will remain steady in 2008 at 13.1 million pounds U₃O₈.

As at December 31 ($Cdn thousands)		2007		2006
Assets
Current assets
Cash and cash equivalents	$	131,932	$	334,089
Accounts receivable		347,097		402,847
Inventories		437,487		416,479
Supplies and prepaid expenses		210,464		191,831
Current portion of long-term receivables, investments and other		164,164		9,178
		1,291,144		1,354,424

Property, plant and equipment		3,437,450		3,198,133
Intangible assets and goodwill		255,484		294,158
Long-term receivables, investments and other		387,304		293,714
Total assets	$	5,371,382		5,140,429

Liabilities and Shareholders' Equity
Current liabilities
Accounts payable and accrued liabilities	$	541,283	$	392,679
Dividends payable		17,220		14,092
Current portion of long-term debt		8,816		7,900
Current portion of other liabilities		32,492		40,737
Future income taxes		84,653		46,289
		684,464		501,697

Long-term debt		717,130		696,691
Provision for reclamation		284,673		228,496
Other liabilities		258,511		232,641
Future income taxes		246,936		339,451
		2,191,714		1,998,976

Minority interest		435,807		400,071

Shareholders' equity
Share capital		819,268		812,769
Contributed surplus		119,531		540,173
Retained earnings		1,779,629		1,428,206
Accumulated other comprehensive income (loss)		25,433		(39,766)
		2,743,861		2,741,382
Total liabilities and shareholders' equity	$	5,371,382	$	5,140,429

All monetary amounts in this business review are expressed in Canadian dollars, unless otherwise indicated.

Financial information is presented in accordance with Canadian generally accepted accounting principles. In addition, we use non-GAAP financial measures as supplemental indicators of our operating performance and financial position. We use these non-GAAP financial measures internally for comparing actual results from one period to another, as well as for future planning purposes. We have historically reported non-GAAP financial results, as we believe their use provides more insight into our performance. For the reconciliation and description of certain non-GAAP financial measures, please see our audited financial statements and notes, and related MD&A.