| |
Three Months Ended |
Year Ended |
| |
Dec 31/07 |
Dec 31/06 |
Dec 31/07 |
Dec 31/06 |
 |
| |
| Operating activities |
|
| |
Net earnings |
$61,498 |
$40,340 |
$416,112 |
$375,715 |
| |
Items not requiring (providing) cash: |
|
| |
|
Depreciation, depletion and reclamation |
56,672 |
58,642 |
225,539 |
199,665 |
| |
Provision for future taxes [note 11] |
(25,950) |
(49,330) |
(134,129) |
(184,639) |
| |
Deferred charges (gains) |
13,505 |
(3,793) |
(18,441) |
(43,449) |
| |
Unrealized losses (gains) on derivatives |
1,487 |
9,702 |
(50,032) |
10,400 |
| |
Stock-based compensation [note 13] |
5,567 |
2,995 |
13,770 |
17,549 |
| |
Stock option plan amendment [note 13] |
- |
- |
94,175 |
- |
| |
Loss (gain) on sale of assets [note 9] |
(927) |
458 |
(4,028) |
(51,826) |
| |
Equity in loss of associated companies [note 10] |
973 |
744 |
6,439 |
5,320 |
| |
Restructuring of gold business [note 16] |
8,000 |
- |
113,000 |
- |
| |
Cigar Lake remediation |
- |
15,356 |
- |
15,356 |
| |
Minority interest |
7,395 |
3,008 |
20,352 |
38,554 |
| |
Other operating items [note 15] |
(71,176) |
(64,810) |
117,969 |
35,375 |
|
| Cash provided by operations |
57,044 |
13,312 |
800,726 |
418,020 |
|
| |
| Investing activities |
|
| |
Acquisition of net business assets, net of cash acquired |
- |
- |
- |
(83,856) |
| |
Additions to property, plant and equipment |
(135,461) |
(148,576) |
(494,473) |
(459,559) |
| |
Increase in long-term receivables, investments and other |
2,322 |
(2,562) |
(38,167) |
(29,687) |
| |
Proceeds on sale of property, plant and equipment |
926 |
46 |
5,824 |
46,404 |
|
| Cash used in investing |
(132,213) |
(151,092) |
(526,816) |
(526,698) |
|
| |
| Financing activities |
|
| |
Shares repurchased [note 7] |
(205,356) |
- |
(429,327) |
- |
| |
Decrease in debt |
(2,050) |
(1,700) |
(7,900) |
(156,700) |
| |
Increase in debt |
28,126 |
- |
43,815 |
- |
| |
Issue of shares |
215 |
1,882 |
23,289 |
27,058 |
| |
Dividends |
(17,447) |
(14,084) |
(66,906) |
(52,660) |
|
| Cash used in financing |
(196,512) |
(13,902) |
(437,029) |
(182,302) |
|
| |
Decrease in cash during the period |
(271,681) |
(151,682) |
(163,119) |
(290,980) |
| |
Exchange rate changes on foreign currency cash balances |
296 |
12,642 |
(39,038) |
1,876 |
| |
Cash and cash equivalents at beginning of period |
403,317 |
473,129 |
334,089 |
623,193 |
|
| Cash and cash equivalents at end of period* |
$131,932 |
$334,089 |
$131,932 |
$334,089 |
|
| |
| Supplemental cash flow disclosure |
|
| |
Interest paid |
$11,287 |
$11,334 |
$47,691 |
$53,551 |
| |
Income taxes paid |
$21,377 |
$22,659 |
$154,748 |
$115,352 |
|
| |
| *As at December 31, 2007, our cash and cash equivalents balance consisted of $89,438 in cash and $42,494 in cash equivalents (primarily treasury bills). As at December 31, 2006 - $73,159 in cash and $260,930 in cash equivalents (primarily commercial paper). |
| |
| See accompanying notes to consolidated financial statements |
