Notes to Consolidated Financial Statements:
- These interim financial statements have been prepared in accordance with Canadian generally accepted accounting principles.
- The interim financial statements, which include the use of estimates and judgments, contain all adjustments that management believes are necessary for a fair presentation of Cameco's financial position, results of operations and changes in financial position.
- The interim financial statements should be read in conjunction with, and are based on the same accounting policies as contained in, Cameco's 1998 annual report.
- At June 30, 1999, there were 57,703,374 common shares outstanding.
- Cameco's contingent obligation under guarantees of the repayment of Kumtor senior debt exceed the amount included in Cameco's long-term debt at June 30, 1999 by $212 million.
- In the second quarter of 1999, Cameco changed its policy for accounting for income taxes. Section 3465 of the Handbook of the Canadian Institute of Chartered Accountants has been adopted effective January 1, 1999. The provisions of this section were applied retroactively without restatement of prior period financial statements. The effect of this change was an increase to property, plant and equipment of $292 million with an offsetting increase in deferred income taxes payable. There was no impact on retained earnings.
- Certain comparative figures for the prior period have been reclassified to conform to the current period's presentation.